https://lending-intelligence-terminal.vercel.app/_next/static/chunks/347-98161be4c6b1030f.js

1"use strict";(self.webpackChunk_N_E=self.webpackChunk_N_E||[]).push([[347],{91686:function(e,t,r){r.d(t,{AsOfFooter:function(){return o}});var a=r(57437);function o(e){let{timestamp:t,source:r}=e;return t?(0,a.jsxs)("div",{className:"text-[9px] text-text-muted px-4 pb-2",style:{letterSpacing:"0.05em"},title:new Date(1e3*t).toISOString().replace("T"," ").slice(0,16)+"Z",children:["As of ",function(e){let t=Math.max(0,Math.floor(Date.now()/1e3)-e);return t<60?"just now":t<3600?"".concat(Math.floor(t/60)," min ago"):t<86400?"".concat(Math.floor(t/3600)," h ago"):"".concat(Math.floor(t/86400)," d ago")}(t),r&&" \xb7 ".concat(r)]}):null}},32379:function(e,t,r){r.d(t,{h:function(){return l}});var a=r(57437),o=r(84962),n=r(34994),i=r(90567);function l(e){let{events:t,bucket:r}=e;return t&&0!==t.length?(0,a.jsx)(a.Fragment,{children:t.map(e=>{var t;let l=(0,n.UW)(e.timestamp,r),s=e.protocolSlug&&(null===(t=i.WT[e.protocolSlug])||void 0===t?void 0:t.color)||"var(--text-muted)";return(0,a.jsx)(o.d,{x:l,stroke:s,strokeDasharray:"3 3",strokeWidth:1,strokeOpacity:.7,label:{value:e.label,position:"top",fontSize:9,fill:s,dy:-2},ifOverflow:"extendDomain"},e.id)})}):null}},44743:function(e,t,r){r.d(t,{CiteThisPage:function(){return l}});var a=r(57437),o=r(2265),n=r(30401),i=r(50201);function l(e){let{pageTitle:t,pageUrl:r}=e,[l,s]=(0,o.useState)(!1),c=new Date().toLocaleDateString("en-US",{month:"long",day:"numeric",year:"numeric"}),d="Datum Labs. (".concat(new Date().getUTCFullYear(),"). Lending Intelligence Terminal: ").concat(t,". Retrieved ").concat(c," from ").concat(r,".");return(0,a.jsxs)("div",{className:"tui-card bg-card-bg border border-card-border rounded p-4 flex flex-col gap-2",children:[(0,a.jsx)("div",{className:"text-[10px] uppercase tracking-[0.1em] font-bold",style:{color:"var(--accent-orange)"},children:"Cite this page"}),(0,a.jsx)("p",{className:"text-[11px] leading-relaxed font-mono",style:{color:"var(--text-secondary)"},children:d}),(0,a.jsx)("button",{type:"button",onClick:function(){"undefined"!=typeof navigator&&navigator.clipboard&&navigator.clipboard.writeText(d).then(()=>{s(!0),setTimeout(()=>s(!1),1800)})},className:"self-start inline-flex items-center gap-1.5 text-[10px] uppercase tracking-[0.08em]",style:{padding:"4px 10px",border:"1px solid var(--card-border)",borderRadius:"4px",background:"var(--background)",color:l?"var(--success)":"var(--text-muted)",cursor:"pointer"},children:l?(0,a.jsxs)(a.Fragment,{children:[(0,a.jsx)(n.Z,{size:11,strokeWidth:2.5}),(0,a.jsx)("span",{children:"Copied"})]}):(0,a.jsxs)(a.Fragment,{children:[(0,a.jsx)(i.Z,{size:11,strokeWidth:2.25}),(0,a.jsx)("span",{children:"Copy citation"})]})})]})}},68885:function(e,t,r){r.d(t,{RevenueBarChart:function(){return k}});var a=r(57437),o=r(2265),n=r(47625),i=r(77031),l=r(97059),s=r(62994),c=r(8147),d=r(31699),u=r(90567),p=r(94508),m=r(82798),x=r(26618),h=r(97309),f=r(72434),v=r(34994),y=r(47805),g=r(32379);function b(e){var t;let{active:r,payload:o,bucket:n,shareMode:i,originals:l}=e;if(!r||!(null==o?void 0:o.length))return null;let s=null===(t=o[0])||void 0===t?void 0:t.payload;if(!s)return null;let c=null==l?void 0:l.get(s.timestamp),d=null!=c?c:s,m=u.UM.map(e=>({slug:e.slug,name:e.name,color:e.color,value:d[e.slug]||0})).filter(e=>e.value>0).sort((e,t)=>t.value-e.value),x=m.reduce((e,t)=>e+t.value,0);return(0,a.jsxs)("div",{className:"custom-tooltip min-w-[240px]",children:[(0,a.jsx)("p",{className:"text-xs text-text-muted mb-2",children:(0,v.hy)(s.timestamp,n)}),(0,a.jsx)("div",{className:"space-y-1.5",children:m.map(e=>(0,a.jsxs)("div",{className:"flex items-center justify-between gap-4",children:[(0,a.jsxs)("div",{className:"flex items-center gap-2",children:[(0,a.jsx)("span",{className:"w-2 h-2 rounded-full flex-shrink-0",style:{backgroundColor:e.color}}),(0,a.jsx)("span",{className:"text-xs text-text-secondary",children:e.name})]}),(0,a.jsxs)("span",{className:"text-xs font-medium text-text-primary",children:[(0,p.ZP)(e.value),i&&x>0&&(0,a.jsxs)("span",{className:"text-text-muted ml-1.5",children:[(e.value/x*100).toFixed(0),"%"]})]})]},e.slug))}),(0,a.jsxs)("div",{className:"border-t border-card-border mt-2 pt-2 flex items-center justify-between",children:[(0,a.jsx)("span",{className:"text-xs font-medium text-text-secondary",children:"Total"}),(0,a.jsx)("span",{className:"text-sm font-semibold text-text-primary",children:(0,p.ZP)(x)})]})]})}function k(e){let{title:t,data:r,defaultRange:k=30,methodologyKey:w,bucketLimits:M,enableShareToggle:N=!1,annotationKey:S}=e,[C,A]=(0,o.useState)(k),[T,Z]=(0,o.useState)(!1),z=(0,m._B)(),D=(0,o.useRef)(null),L=(0,v.ts)(C),F=null==M?void 0:M[L],E=(0,o.useMemo)(()=>(0,v.Mi)(r,L,"sum",u.UM.map(e=>e.slug),F),[r,L,F]),U=(0,o.useMemo)(()=>T?E.map(e=>{let t=u.UM.reduce((t,r)=>{var a;return t+(null!==(a=e[r.slug])&&void 0!==a?a:0)},0),r={timestamp:e.timestamp};for(let o of u.UM){var a;let n=null!==(a=e[o.slug])&&void 0!==a?a:0;r[o.slug]=t>0?n/t*100:0}return r}):E,[E,T]),K=(0,o.useMemo)(()=>{let e=new Map;for(let t of E)e.set(t.timestamp,t);return e},[E]),R=(0,y.O)(null!=S?S:"");return(0,a.jsxs)("div",{ref:D,className:"tui-card bg-card-bg border border-card-border rounded overflow-hidden flex flex-col",children:[(0,a.jsxs)("div",{className:"border-b border-card-border flex items-center justify-between",style:{padding:"10px 16px"},children:[(0,a.jsxs)("span",{className:"text-accent flex items-center gap-1.5",style:{fontSize:"11px",fontWeight:700,textTransform:"uppercase",letterSpacing:"0.1em"},children:[t,(0,a.jsx)(f.MethodologyTooltip,{methodologyKey:w})]}),(0,a.jsxs)("div",{className:"flex items-center gap-2",children:[N&&(0,a.jsx)(j,{shareMode:T,setShareMode:Z}),(0,a.jsx)(x.n,{selected:C,onChange:A,options:[7,30,90],labels:{7:"W",30:"M",90:"Q"}}),(0,a.jsx)(h.L,{cardRef:D,title:t})]})]}),(0,a.jsx)("div",{className:"relative p-4 h-[280px] chart-body",children:(0,a.jsx)(n.h,{width:"100%",height:"100%",children:(0,a.jsxs)(i.v,{data:U,margin:{top:5,right:5,left:5,bottom:0}

1,children:[(0,a.jsx)(l.K,{dataKey:"timestamp",axisLine:!1,tickLine:!1,tick:{fontSize:10,fill:z.textMuted},tickFormatter:e=>(0,v.rJ)(e,L),interval:"preserveStartEnd",minTickGap:30}),(0,a.jsx)(s.B,{axisLine:!1,tickLine:!1,tick:{fontSize:10,fill:z.textMuted},tickFormatter:e=>T?"".concat(e.toFixed(0),"%"):(0,p.ZP)(e),width:T?42:70,domain:T?[0,100]:void 0}),(0,a.jsx)(c.u,{content:(0,a.jsx)(b,{bucket:L,shareMode:T,originals:K}),cursor:{fill:"rgba(255, 255, 255, 0.03)"}}),(0,a.jsx)(g.h,{events:R,bucket:L}),u.UM.map(e=>(0,a.jsx)(d.$,{dataKey:e.slug,stackId:"1",fill:e.color,fillOpacity:.8},e.slug))]})})}),(0,a.jsx)("div",{className:"flex flex-wrap gap-x-3 gap-y-1 px-4 pb-3 text-[10px]",style:{color:"var(--text-muted)"},children:u.UM.map(e=>(0,a.jsxs)("div",{className:"flex items-center gap-1.5",children:[(0,a.jsx)("span",{className:"w-2 h-2 rounded-full",style:{backgroundColor:e.color}}),(0,a.jsx)("span",{children:e.name})]},e.slug))})]})}function j(e){let{shareMode:t,setShareMode:r}=e;return(0,a.jsx)("div",{style:{display:"inline-flex",border:"1px solid var(--card-border)",borderRadius:"4px",overflow:"hidden",background:"var(--background)"},children:[{value:!1,label:"Dollars"},{value:!0,label:"Share"}].map(e=>(0,a.jsx)("button",{onClick:()=>r(e.value),style:{padding:"4px 10px",fontSize:"10px",fontWeight:500,cursor:"pointer",border:"none",fontFamily:"inherit",backgroundColor:t===e.value?"var(--card-border)":"transparent",color:t===e.value?"var(--text-primary)":"var(--text-muted)",textTransform:"uppercase",letterSpacing:"0.05em"},title:e.value?"Renormalize each bucket to 100% so the share dynamics across protocols are visible.":"Show absolute fee dollars per protocol per bucket.",children:e.label},String(e.value)))})}},26618:function(e,t,r){r.d(t,{n:function(){return n}});var a=r(57437);let o={7:"7D",30:"30D",90:"90D",365:"1Y",0:"All"};function n(e){let{selected:t,onChange:r,options:n=[7,30,90,365,0],labels:i}=e,l=e=>{var t;return null!==(t=null==i?void 0:i[e])&&void 0!==t?t:o[e]};return(0,a.jsx)("div",{"data-chart-export-hide":"time-toggle",style:{display:"inline-flex",borderRadius:"4px",border:"1px solid var(--card-border)",overflow:"hidden",backgroundColor:"var(--background)"},children:n.map(e=>(0,a.jsx)("button",{onClick:()=>r(e),style:{padding:"4px 10px",fontSize:"11px",fontWeight:500,cursor:"pointer",border:"none",fontFamily:"inherit",backgroundColor:t===e?"var(--card-border)":"transparent",color:t===e?"var(--text-primary)":"var(--text-muted)",textTransform:"uppercase",letterSpacing:"0.05em"},children:l(e)},e))})}},47805:function(e,t,r){r.d(t,{O:function(){return o}});var a=JSON.parse('{"$schema":"Annotation events for chart overlays. See lib/annotations.ts for the schema. Add events as the Lending Pulse drafts surface them; charts opt in via the `chartKeys` filter.","events":[{"id":"morpho-pyusd-allocator-rotation-2026-04","timestamp":1745020800,"label":"Allocator rotation","description":"Morpho PYUSD utilization briefly spiked above 95% as a single MetaMorpho allocator rotated capital between markets, lifting supply APY into double digits for ~3 days.","chartKeys":["market-cross-protocol-rate-pyusd"],"protocolSlug":"morpho-blue"},{"id":"rseth-contagion-2026-02","timestamp":1771027200,"label":"rsETH contagion","description":"Mid-Feb 2026 rsETH redemption queue extended past several positions\' liquidation windows, triggering forced liquidations across Aave V3 and Spark and curator-vault losses on Morpho. Sector liquidation volume ~5\xd7 the trailing-90d weekly mean.","chartKeys":["risk-liquidation-volume-weekly"]},{"id":"compare-aave-usdc-spike-2026-04","timestamp":1776384000,"label":"Aave V3 USDC spike","description":"Apr 17-21 cross-protocol dispersion peaked at 833 bps as Aave V3 USDC supply APY jumped on a borrow surge while the other three protocols stayed inside their 90d range.","chartKeys":["compare-cross-protocol-dispersion"]},{"id":"collateral-sector-peak-2025-08","timestamp":1756080000,"label":"Sector peak ~$80B","description":"Late August 2025 marked the all-time-high for cross-protocol lending collateral on Ethereum, driven by LRT inflows on Aave V3 + Spark and the rsETH growth wave that later contracted in early 2026.","chartKeys":["collateral-by-asset-type"]}]}');function o(e){return a.events.filter(t=>t.chartKeys.includes(e)).sort((e,t)=>

1e.timestamp-t.timestamp)}},79205:function(e,t,r){r.d(t,{Z:function(){return s}});var a=r(2265);let o=e=>e.replace(/([a-z0-9])([A-Z])/g,"$1-$2").toLowerCase(),n=function(){for(var e=arguments.length,t=Array(e),r=0;r<e;r++)t[r]=arguments[r];return t.filter((e,t,r)=>!!e&&""!==e.trim()&&r.indexOf(e)===t).join(" ").trim()};var i={xmlns:"http://www.w3.org/2000/svg",width:24,height:24,viewBox:"0 0 24 24",fill:"none",stroke:"currentColor",strokeWidth:2,strokeLinecap:"round",strokeLinejoin:"round"};let l=(0,a.forwardRef)((e,t)=>{let{color:r="currentColor",size:o=24,strokeWidth:l=2,absoluteStrokeWidth:s,className:c="",children:d,iconNode:u,...p}=e;return(0,a.createElement)("svg",{ref:t,...i,width:o,height:o,stroke:r,strokeWidth:s?24*Number(l)/Number(o):l,className:n("lucide",c),...p},[...u.map(e=>{let[t,r]=e;return(0,a.createElement)(t,r)}),...Array.isArray(d)?d:[d]])}),s=(e,t)=>{let r=(0,a.forwardRef)((r,i)=>{let{className:s,...c}=r;return(0,a.createElement)(l,{ref:i,iconNode:t,className:n("lucide-".concat(o(e)),s),...c})});return r.displayName="".concat(e),r}},30401:function(e,t,r){r.d(t,{Z:function(){return a}});let a=(0,r(79205).Z)("Check",[["path",{d:"M20 6 9 17l-5-5",key:"1gmf2c"}]])},50201:function(e,t,r){r.d(t,{Z:function(){return a}});let a=(0,r(79205).Z)("ClipboardCopy",[["rect",{width:"8",height:"4",x:"8",y:"2",rx:"1",ry:"1",key:"tgr4d6"}],["path",{d:"M8 4H6a2 2 0 0 0-2 2v14a2 2 0 0 0 2 2h12a2 2 0 0 0 2-2v-2",key:"4jdomd"}],["path",{d:"M16 4h2a2 2 0 0 1 2 2v4",key:"3hqy98"}],["path",{d:"M21 14H11",key:"1bme5i"}],["path",{d:"m15 10-4 4 4 4",key:"5dvupr"}]])},94942:function(e,t,r){r.d(t,{Z:function(){return a}});let a=(0,r(79205).Z)("FileDown",[["path",{d:"M15 2H6a2 2 0 0 0-2 2v16a2 2 0 0 0 2 2h12a2 2 0 0 0 2-2V7Z",key:"1rqfz7"}],["path",{d:"M14 2v4a2 2 0 0 0 2 2h4",key:"tnqrlb"}],["path",{d:"M12 18v-6",key:"17g6i2"}],["path",{d:"m9 15 3 3 3-3",key:"1npd3o"}]])},33245:function(e,t,r){r.d(t,{Z:function(){return a}});let a=(0,r(79205).Z)("Info",[["circle",{cx:"12",cy:"12",r:"10",key:"1mglay"}],["path",{d:"M12 16v-4",key:"1dtifu"}],["path",{d:"M12 8h.01",key:"e9boi3"}]])},47416:function(e,t,r){r.d(t,{Z:function(){return a}});let a=(0,r(79205).Z)("Maximize2",[["polyline",{points:"15 3 21 3 21 9",key:"mznyad"}],["polyline",{points:"9 21 3 21 3 15",key:"1avn1i"}],["line",{x1:"21",x2:"14",y1:"3",y2:"10",key:"ota7mn"}],["line",{x1:"3",x2:"10",y1:"21",y2:"14",key:"1atl0r"}]])},74440:function(e,t,r){r.d(t,{Z:function(){return a}});let a=(0,r(79205).Z)("Minimize2",[["polyline",{points:"4 14 10 14 10 20",key:"11kfnr"}],["polyline",{points:"20 10 14 10 14 4",key:"rlmsce"}],["line",{x1:"14",x2:"21",y1:"10",y2:"3",key:"o5lafz"}],["line",{x1:"3",x2:"10",y1:"21",y2:"14",key:"1atl0r"}]])},77031:function(e,t,r){r.d(t,{v:function(){return s}});var a=r(12606),o=r(31699),n=r(97059),i=r(62994),l=r(25311),s=(0,a.z)({chartName:"BarChart",GraphicalChild:o.$,defaultTooltipEventType:"axis",validateTooltipEventTypes:["axis","item"],axisComponents:[{axisType:"xAxis",AxisComp:n.K},{axisType:"yAxis",AxisComp:i.B}],formatAxisMap:l.t9})}}]);