Integral Insights: May '25
Jun 2, 2025
May delivered high capital efficiency across all deployments, with Ethereum's WETH-USDT pool achieving a 21,140% utilization rate. That's $112.45M in trading volume powered by just $531.91K in average TVL—proof that our passive concentrated liquidity model isn't just working, it's accelerating.
Metrics Overview
May's performance underscored the protocol's ability to generate outsized returns from minimal capital deployment. Total trading volume reached $279.14M across eight active pools, while maintaining an average TVL of just $2.49M. The result: utilization rates that would make traditional AMMs question their entire model.
Key highlights:
Total Volume: $279.14M
Average TVL: $2.49M
Top Utilization: 21,140% (WETH-USDT, Ethereum)
Highest APR: 33.67% (WETH-USDC, Arbitrum)
Network Distribution
Network | Volume | % of Total |
|---|---|---|
Ethereum | $241.99M | 86.7% |
Arbitrum | $37.15M | 13.3% |
While Ethereum continues to dominate by raw volume, Arbitrum punches above its weight class yet again. With just 11.1% of total TVL ($275K average), Arbitrum pools generated 13.3% of protocol volume—classic David and Goliath dynamics at play.
Top 5 Pools by Utilization
Pool | Network | Utilization (%) | Volume | TVL |
|---|---|---|---|---|
WETH-USDT | Ethereum | 21,140.4 | $112.45M | $531.91K |
WETH-USDC | Arbitrum | 17,130.7 | $21.90M | $127.82K |
WETH-USDC.E | Arbitrum | 14,131.7 | $8.85M | $62.64K |
WBTC-WETH | Ethereum | 13,654.6 | $66.21M | $484.88K |
WSTETH-WETH | Arbitrum | 8,986.7 | $2.62M | $29.21K |
May's standout metric: the WETH-USDT pool on Ethereum processed $211 in volume for every dollar of liquidity. This isn't an anomaly—it's the model working as designed. Our oracle-based pricing and TWAP execution continue to prove that you don't need deep pools when you have smart pools.
The efficiency cascade continues down the rankings. WETH-USDC on Arbitrum turned $127.82K into $21.90M of trading activity, while even our "underperformers" like WSTETH-WETH on Ethereum achieved nearly 49x capital efficiency.
Real Yield
Every basis point of yield on Integral comes from one source: trading fees. May's APR leaders demonstrate that sustainable returns don't require inflationary tokenomics:
WETH-USDC (Arbitrum): 33.67% APR, 41.24% 30-day APY
WBTC-WETH (Ethereum): 22.34% APR, 17.43% 30-day APY
WETH-USDT (Ethereum): 20.53% APR, 25.88% 30-day APY
Even our stablecoin pairs deliver. USDC-WETH generated 9.2% APR from $53.06M in volume—pure fee generation, zero impermanent loss risk.
Arbitrum's Efficiency Edge
Arbitrum pools averaged 11,502% utilization across active pairs, compared to Ethereum's 9,602%. The WETH-USDC.E pool exemplifies this edge: $62.64K in TVL facilitated $8.85M in trades, generating 15.71% APR for LPs.
This isn't about choosing sides. It's about recognizing that capital efficiency scales differently across chains, and Integral's architecture captures value regardless of where traders execute.
Beyond the Numbers
May's results reinforce a simple truth: in DeFi, efficiency beats size. While other protocols chase TVL rankings, Integral focuses on what matters—turning every dollar of liquidity into maximum trading capacity and LP returns.
As we enter June, the protocol continues to optimize for one metric above all: capital productivity. Because in a world where yield is scarce and sustainable returns are scarcer, Integral remains built different.
Try our pools for yourself at app.integral.link/pools
Stay tuned for more updates and follow us on Twitter (@IntegralHQ) for the latest news and announcements.
(All metrics above are sourced directly from on-chain activity between 2025-05-01 and 2025-05-31. APR figures are realized, not forward-looking projections.)