Sources
Every claim and data surface this site cites, so nobody has to take our word for it.
Wave evidence — CeDeFi: -6.7% TVL in 7 days (7 protocols, $0.22B)
- https://defillama.com/protocols/cedefi (onchain)
Claims
- Arc mainnet launched with fees paid in USDC.
“Fees are paid in USDC, with no volatile native token required.”
· source - Morpho serves as a lending/credit layer on Arc at mainnet.
“Morpho to serve as a credit layer on Arc, bringing open, composable, and capital-efficient lending markets”
· source - Aave V4 on Arc deployed with one Liquidity Hub and two Spokes.
“one Liquidity Hub and two Spokes”
· source - Arc documents a public mainnet RPC and uses USDC with 18 decimals as native gas token.
“Arc uses USDC as the native gas token (18 decimals).”
· source - Blockscout per-instance APIs are deprecated in favour of the keyed Universal PRO API.
“Our Universal PRO API is now available, and per-instance API support has been deprecated.”
· source - The Morpho API has a standard rate limit of 750 requests per minute.
“750 requests/minute”
· source - The Morpho GraphQL API serves Blue markets, vaults and positions; whether Arc is among its supported networks is not confirmed.
“For all data related to Blue markets, vaults, and positions”
· source - DefiLlama's API is open and free to use.
“Our API is an open API and it free to use.”
· source - The Bitwise PAPY-USDC vault on Arc takes USDC deposits on Morpho.
“Lenders deposit USDC into the PAPY-USDC vault on the Morpho protocol.”
· source - PAPY vault deposits are lent to borrowers posting whitelisted RWA collateral, so the yield chain continues offchain.
“Those deposits are then lent to borrowers who post white-listed RWA collateral.”
· source - Elixir lent about 65% of deUSD backing to Stream through private Morpho vaults.
“Elixir had lent roughly 65% of deUSD's backing (about $68M) to Stream through private Morpho vaults.”
· source - The Yields and More exposure map of Stream-linked debt was explicitly incomplete.
“This is not an extensive list; there likely are more stables/vaults affected”
· source - Stream and Elixir were described as recursively minting each other's tokens to inflate TVL.
“recursively minting each other's tokens in order to inflate their own TVL”
· source - Stablewatch sources yield data from onchain contracts, price oracles and DefiLlama.
“on-chain contracts, verified price oracles, and DefiLlama”
· source - On 2026-09-11 Frgmnt's fUSD/sfUSD became accessible through institutional custody rails, a CeDeFi-style wrapping of onchain lending yield.
“accessible through institutional custody rails for the first time”
· source - sfUSD advertised double-digit staking rewards sourced from onchain lending markets.
“13.32% in protocol staking rewards from on-chain lending markets”
· source - DeFi TVL fell about 39% in 2026 through late June.
“has fallen by about 39% in 2026 so far”
· source - The Arc mainnet RPC answers eth_chainId with 0x13b2 (5042).
“Arc uses USDC as the native gas token (18 decimals).”
· source
Data surfaces this site reads
/api/traces/latest (edge count)— hero "traces poured / stations surveyed" counter.Arc RPC Borrow logs— the latest-survey preview and the borrow tape, read live from Morpho Blue on Arc./api/traces/[id]/cycles— the siphon verdict (a Tarjan strongly-connected-components pass over the surveyed graph)./api/edges?status=unsurveyed— dark, unsurveyed passages.