WSTETH
Morpho · Curated by Steakhouse · Mainnet
Frequently Asked Questions
What is the current APY for WSTETH?
The current spot APY for WSTETH on Morpho (Mainnet) is 0.51%. The 30-day average APY is 0.50%. All figures exclude external token rewards and are calculated from on-chain exchange rates only.
How much total value is locked in WSTETH?
The total value locked (TVL) in WSTETH is $4.7M. TVL measures the total ETH assets currently deposited in this vault.
Does the WSTETH yield include token rewards?
No. Earnbase tracks on-chain APY only, derived from the vault's exchange rate changes over time. External incentives, token rewards, points programs, and liquidity mining bonuses are not included in the reported APY.
Who curates WSTETH?
WSTETH is curated by Steakhouse. Curators set the risk parameters, asset allocations, and rebalancing strategy for the vault. They are responsible for selecting which lending markets or protocols receive deposits. You can view all strategies curated by Steakhouse on the Steakhouse curator page on Earnbase.
Compare with Other ETH Strategies
| Strategy | Platform | Network | APY | TVL |
|---|---|---|---|---|
| WETH Lend Pool | Arcadia | Base | 39.72% | $13.7K |
| Arcadia - Lend Autocompounder | Harvest | Base | 35.49% | $24.0K |
| stETH Looping | IPOR Fusion | Ethereum | 6.20% | $6.4M |
| Pool | IPOR Fusion | Base | 5.83% | $135.2K |
| ETH Reactor | Morpho | Base | 5.74% | $354.2K |
| Flagship ETH | Lagoon | Mainnet | 4.96% | $4.9M |
| Swaap Lend Vault | Euler | Mainnet | 4.92% | $809.6K |
| WETH Autopilot | Harvest | Base | 4.16% | $1.2M |
| Gami ETH | Lagoon | Ethereum | 3.86% | $279.7K |
| Wintermute Trading (Private Credit) | Wildcat | Mainnet | 3.75% | $1.7K |
More Morpho Strategies
WSTETH
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Yield Overview
WSTETH is a ETH yield strategy on Morpho, curated by Steakhouse. It currently generates 0.51% APY (24h) with a 30-day average of 0.50%. The vault holds $4.7M in total value locked. APY is derived from the vault's on-chain exchange rate and does not include external incentives.
Curated by Steakhouse · Mainnet
Market Benchmarking
Within the ETH ecosystem, this product ranks #52 out of 77 strategies. Its 0.51% yield is 79.7% lower than the market average of 2.50%.
How WSTETH Compares
WSTETH currently ranks #52 among 77 monitored ETH strategies. However, with a TVL of $4.7M, it holds significantly less capital than higher-TVL alternatives like Steakhouse Prime ETH V2 ($56.5M).
Ecosystem Context
Positioned within the Mainnet ecosystem, this product's yield is 64.7% lower than the network average for ETH strategies. This strategy is curated by Steakhouse, with 2 Steakhouse strategies tracked on Earnbase across 2 networks. Within Morpho, it competes against 15 other ETH strategies. By TVL, this product ranks #28 of 45 ETH strategies on Mainnet.
About Morpho
Morpho is a decentralized lending protocol that enables the creation of isolated lending markets and curated vaults. Earnbase tracks 16 strategies on Morpho.
ETH on Mainnet#31 of 45
Yield Sustainability
The 24h APY of 0.51% is nearly identical to the 30-day mean, with only a 2.5% variance. This level of consistency is uncommon in DeFi and reflects a mature, well-calibrated yield source with predictable returns.
Yield Trajectory
WSTETH has been on a 3-day flat streak, with APY rising from 0.51% to 0.51% over this period. Over the past 30 days, the product delivered positive yields on 30 out of 30 days. Week-over-week, yields have declined by 1.4%. The strongest 7-day period was May 05–May 11 averaging 0.52%, while the weakest was Apr 28–May 04 at 0.47%. Current 24h APY of 0.51% is 2.7% above the product's own 30-day average.
Weekly yields have declined for 1 consecutive week. The most recent 7-day average stands at 0.51%.
Weekly Breakdown
Historical APY Statistics
Over the past 165 days, WSTETH's yield has shown a downward trend, with yields compressing from 0.70% to 0.46%, a 35.1% decline. The sustainability score of 97/100 aligns with a period of relative yield stability.
Historical TVL Statistics
Over the past 165 days, WSTETH's total value locked has experienced a contraction, declining from $8.0M to $5.7M, a 28.3% reduction.
History
FAQ
Yield & Performance
WSTETH on Morpho offers a 24-hour APY of 0.51%, a 30-day average of 0.50% on ETH. Yields are variable and update daily based on protocol activity.
WSTETH ranks #52 out of 77 monitored ETH strategies. Its current yield of 0.51% is 79.7% below the market average of 2.50%.
Earnbase rates the yield sustainability of WSTETH at 97/100, classified as "Very Stable". The 24h APY of 0.51% is nearly identical to the 30-day mean, with only a 2.5% variance. This level of consistency is uncommon in DeFi and reflects a mature, well-calibrated yield source with predictable returns.
Over the past 165 days, WSTETH has shown a downward yield trajectory. The average APY moved from 0.70% to 0.46%.
WSTETH has a yield volatility rating of "Moderate" (standard deviation: 1.11pp over 165 days). The APY has ranged from 0.30% to 7.40% in the tracked period, with an average of 1.05%.
Liquidity & TVL
WSTETH currently has a total value locked (TVL) of $4.7M in ETH deposits.
WSTETH holds $4.7M in ETH deposits. Across all 77 tracked ETH strategies, deposits range widely depending on the protocol and curator reputation. This vault's TVL of $4.7M places it within the broader spectrum of ETH opportunities tracked on Earnbase.
By total value locked, WSTETH ranks #28 of 45 ETH strategies on Mainnet. It currently holds $4.7M.
WSTETH's TVL is currently declining. Over the past 165 days, TVL moved from $8.0M to $5.7M, a -28.3% change. The 30-day high was $9.4M and the 30-day low was $3.1M.
Despite rising yields, capital has been flowing out. This may indicate concerns about sustainability or broader market rotation. In general, rising TVL in a lending vault can compress yields as more capital competes for the same borrow demand.
Over the past 30 days, WSTETH had 12 days of inflows and 17 days of outflows. The largest single-day inflow was +$111.0K (Apr 24, 2026) and the largest outflow was -$562.1K (May 04, 2026). Net 30-day TVL change: -17.2%.
Strategy & Access
WSTETH operates on the Mainnet network and is managed by Morpho. It accepts ETH deposits. The strategy is curated by Steakhouse.
To deposit into WSTETH, you need ETH tokens on the Mainnet network. Visit the Morpho platform directly to connect your wallet and make a deposit.
WSTETH ranks among 45 monitored ETH strategies on Mainnet. Its yield of 0.51% is 64.7% below the Mainnet average of 1.44%.
WSTETH is deployed on Morpho's vault infrastructure. Fee structures are set at the protocol and curator level. Consult the vault directly for current performance and management fee rates.
Morpho is the DeFi protocol infrastructure that WSTETH operates on. It provides the smart contract layer for deposits, withdrawals, and strategy execution on the Mainnet network.
For illustrative purposes only. Based on the current 0.51% on-chain APY for ETH. Does not include external incentives. Past performance does not guarantee future results. Actual returns may vary.
This page provides informational data aggregated from on-chain sources and is not financial advice. Always verify data directly with Morpho before depositing.
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