USDC Core
Morpho · Curated by Gauntlet · Arbitrum
Frequently Asked Questions
What is the current APY for USDC Core?
The current spot APY for USDC Core on Morpho (Arbitrum) is 3.01%. The 30-day average APY is 3.27%. All figures exclude external token rewards and are calculated from on-chain exchange rates only.
How much total value is locked in USDC Core?
The total value locked (TVL) in USDC Core is $5.1M. TVL measures the total USDC assets currently deposited in this vault.
Does the USDC Core 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 USDC Core?
USDC Core is curated by Gauntlet. 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 Gauntlet on the Gauntlet curator page on Earnbase.
Compare with Other USDC Strategies
| Strategy | Platform | Network | APY | TVL |
|---|---|---|---|---|
| Hub Capital USDC vault | Lagoon | Ethereum | 104.04% | $1.0M |
| High Yield USDC | Morpho | Mainnet | 103.36% | $1.8M |
| V2 - ID:20 | Silo | Sonic | 71.06% | $8.3K |
| Resolv USDC | Euler | Mainnet | 33.98% | $2.3K |
| Apostro | Euler | BNB | 28.33% | $1.0K |
| Euler Arbitrum Yield | Euler | Arbitrum | 21.93% | $1.4K |
| wsrUSD (Leveraged Looping) | IPOR Fusion | Mainnet | 16.59% | $4.1M |
| Hyperithm (Private Credit) | Wildcat | Mainnet | 15.00% | $30.0M |
| TAU Reservoir Pointsmax | IPOR Fusion | Ethereum | 14.04% | $589.4K |
| Coinshift Conservative USPC | Lagoon | Ethereum | 11.19% | $340.1K |
More Morpho Strategies
USDC Core
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Yield Overview
USDC Core is a USDC yield strategy on Morpho, curated by Gauntlet. It currently generates 3.01% APY (24h) with a 30-day average of 3.27%. The vault holds $5.1M in total value locked. APY is derived from the vault's on-chain exchange rate and does not include external incentives.
Curated by Gauntlet · Arbitrum
Market Benchmarking
Within the USDC ecosystem, this product ranks #99 out of 160 strategies. Its 3.01% yield is 50.0% lower than the market average of 6.02%.
How USDC Core Compares
USDC Core currently ranks #99 among 160 monitored USDC strategies. However, with a TVL of $5.1M, it holds significantly less capital than higher-TVL alternatives like High Yield USDC ($24.0M).
Ecosystem Context
Positioned within the Arbitrum ecosystem, this product's yield is 35.2% lower than the network average for USDC strategies. This strategy is curated by Gauntlet, with 37 Gauntlet strategies tracked on Earnbase across 5 networks. Within Morpho, it competes against 63 other USDC strategies. By TVL, this product ranks #4 of 20 USDC strategies on Arbitrum.
About Morpho
Morpho is a decentralized lending protocol that enables the creation of isolated lending markets and curated vaults. Earnbase tracks 105 strategies on Morpho.
USDC on Arbitrum#13 of 20
Yield Sustainability
The 24h APY of 3.01% is nearly identical to the 30-day mean, with only a 8.0% variance. This level of consistency is uncommon in DeFi and reflects a mature, well-calibrated yield source with predictable returns.
Yield Trajectory
USDC Core has been on a 2-day upward streak, with APY rising from 3.42% to 3.93% over this period. Over the past 30 days, the product delivered positive yields on 30 out of 30 days. Week-over-week, yields have increased by 13.5%. The strongest 7-day period was Mar 28–Apr 03 averaging 3.78%, while the weakest was Mar 14–Mar 20 at 2.90%. Current 24h APY of 3.01% is 8.1% below the product's own 30-day average.
Weekly yields have improved for 2 consecutive weeks, with the most recent 7-day average of 3.78% representing a sustained weekly performance in the tracked period.
Weekly Breakdown
Historical APY Statistics
Over the past 120 days, USDC Core's yield has shown a downward trend, with yields compressing from 4.54% to 3.31%, a 27.0% decline. The sustainability score of 90/100 aligns with a period of relative yield stability.
Historical TVL Statistics
Over the past 120 days, USDC Core's total value locked has experienced a contraction, declining from $50.3M to $10.1M, a 80.0% reduction.
History
FAQ
Yield & Performance
USDC Core on Morpho offers a 24-hour APY of 3.01%, a 30-day average of 3.27% on USDC. Yields are variable and update daily based on protocol activity.
USDC Core ranks #99 out of 160 monitored USDC strategies. Its current yield of 3.01% is 50.0% below the market average of 6.02%.
Earnbase rates the yield sustainability of USDC Core at 90/100, classified as "Very Stable". The 24h APY of 3.01% is nearly identical to the 30-day mean, with only a 8.0% variance. This level of consistency is uncommon in DeFi and reflects a mature, well-calibrated yield source with predictable returns.
Over the past 120 days, USDC Core has shown a downward yield trajectory. The average APY moved from 4.54% to 3.31%.
USDC Core has a yield volatility rating of "Moderate" (standard deviation: 1.26pp over 120 days). The APY has ranged from 1.88% to 9.16% in the tracked period, with an average of 4.23%.
Liquidity & TVL
USDC Core currently has a total value locked (TVL) of $5.1M in USDC deposits.
USDC Core holds $5.1M in USDC deposits. Across all 160 tracked USDC strategies, deposits range widely depending on the protocol and curator reputation. This vault's TVL of $5.1M places it within the broader spectrum of USDC opportunities tracked on Earnbase.
By total value locked, USDC Core ranks #4 of 20 USDC strategies on Arbitrum. It currently holds $5.1M.
USDC Core's TVL is currently declining. Over the past 120 days, TVL moved from $50.3M to $10.1M, a -80.0% change. The 30-day high was $62.3M and the 30-day low was $5.3M.
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, USDC Core had 8 days of inflows and 21 days of outflows. The largest single-day inflow was +$222.7K (Mar 30, 2026) and the largest outflow was -$2.8M (Mar 24, 2026). Net 30-day TVL change: -60.2%.
Strategy & Access
USDC Core operates on the Arbitrum network and is managed by Morpho. It accepts USDC deposits. The strategy is curated by Gauntlet.
To deposit into USDC Core, you need USDC tokens on the Arbitrum network. Visit the Morpho platform directly to connect your wallet and make a deposit.
USDC Core ranks among 20 monitored USDC strategies on Arbitrum. Its yield of 3.01% is 35.2% below the Arbitrum average of 4.65%.
USDC Core 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 USDC Core operates on. It provides the smart contract layer for deposits, withdrawals, and strategy execution on the Arbitrum network.
For illustrative purposes only. Based on the current 3.01% on-chain APY for USDC. 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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