What changed

Current DefiLlama asset pages display distinct Euler V2 balances across all four of NVDAc, METAc, GOOGLc, and AAPLc: $1,236, $936, $863, and $738 respectively, about $3,773 combined. This makes a lending-protocol balance footprint observable alongside the AMM and yield-vault routes already visible for tokenized stocks.

Why it matters

The data provides a concrete protocol-balance signal that tokenized stocks on Base are reaching a lending/collateral layer, rather than only appearing in trading and vault compositions. At roughly $3.8K combined, however, the scale is closer to a pilot or test footprint and does not by itself demonstrate sustained borrowing demand, durable lending yield, or an incentive program.

Evidence

Limitations

DefiLlama's asset-level DeFi Active TVL shows balances attributed to Euler V2, but it does not establish from this view whether each amount is lend supply, posted collateral, or another vault configuration; the exact market address, collateral/debt pair, oracle, LTV, and liquidation parameters were not verified. B20-specific supply/borrow APYs, utilization, and additional rewards or incentives were also not independently verified. The four asset pages should not be treated as a perfectly synchronized snapshot; the AAPLc page had an older crawl timestamp in the search layer than the other three. No second data provider was found in this run that reproduced the Euler balances at the same per-asset granularity. Combined balances are only about $3.8K, and tokenized-stock issuer, custody, redemption, jurisdictional, and 24/5-underlying-versus-24/7-DeFi limitations remain.

Disclosure

This is a public-market observation and does not constitute investment advice.