Degen USDC
Morpho · Curated by Yearn · Arbitrum
Frequently Asked Questions
What is the current APY for Degen USDC?
The current spot APY for Degen USDC on Morpho (Arbitrum) is 8.77%. The 30-day average APY is 4.04%. All figures exclude external token rewards and are calculated from on-chain exchange rates only.
How much total value is locked in Degen USDC?
The total value locked (TVL) in Degen USDC is $1.2M. TVL measures the total USDC assets currently deposited in this vault.
Does the Degen USDC 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 Degen USDC?
Degen USDC is curated by Yearn. 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 Yearn on the Yearn 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
Degen USDC
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Yield Overview
Degen USDC is a USDC yield strategy on Morpho, curated by Yearn. It currently generates 8.77% APY (24h) with a 30-day average of 4.04%. The vault holds $1.2M in total value locked. APY is derived from the vault's on-chain exchange rate and does not include external incentives.
Curated by Yearn · Arbitrum
Market Benchmarking
Within the USDC ecosystem, this product ranks #18 out of 160 strategies. Its 8.77% yield is 45.8% higher than the market average of 6.02%. While not the highest available, this strategy outperforms the majority of tracked USDC opportunities.
How Degen USDC Compares
Degen USDC currently ranks #18 among 160 monitored USDC strategies. However, with a TVL of $1.2M, it holds significantly less capital than higher-TVL alternatives like Earn - avUSDC ($66.0M).
Ecosystem Context
Positioned within the Arbitrum ecosystem, this product's yield is 88.8% higher than the network average for USDC strategies. This strategy is curated by Yearn, with 4 Yearn strategies tracked on Earnbase across 3 networks. Within Morpho, it competes against 63 other USDC strategies. By TVL, this product ranks #8 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#2 of 20
Yield Sustainability
An extreme 117.1% deviation from the historical average suggests the current yield level is unlikely to persist. This pattern is often driven by temporary incentive programs, one-off events, or rapid capital reallocation.
Yield Trajectory
Degen USDC recorded a 24h APY of 8.77% in the most recent data point. Over the past 30 days, the product delivered positive yields on 30 out of 30 days. Week-over-week, yields have increased by 0.8%. The strongest 7-day period was Mar 28–Apr 03 averaging 4.00%, while the weakest was Mar 14–Mar 20 at 3.10%. Current 24h APY of 8.77% is 134.1% above the product's own 30-day average.
Weekly yields have improved for 2 consecutive weeks, with the most recent 7-day average of 4.00% representing a sustained weekly performance in the tracked period.
Weekly Breakdown
Historical APY Statistics
Over the past 120 days, Degen USDC's yield has shown a downward trend, with yields compressing from 5.58% to 3.77%, a 32.5% decline. The sustainability score of 10/100 aligns with a reversion from previously unsustainable levels.
Historical TVL Statistics
Over the past 120 days, Degen USDC's total value locked has experienced a contraction, declining from $3.2M to $1.2M, a 64.3% reduction.
History
FAQ
Yield & Performance
Degen USDC on Morpho offers a 24-hour APY of 8.77%, a 30-day average of 4.04% on USDC. Yields are variable and update daily based on protocol activity.
Degen USDC ranks #18 out of 160 monitored USDC strategies. Its current yield of 8.77% is 45.8% above the market average of 6.02%.
Earnbase rates the yield sustainability of Degen USDC at 10/100, classified as "Very Low Stability". An extreme 117.1% deviation from the historical average suggests the current yield level is unlikely to persist.
Over the past 120 days, Degen USDC has shown a downward yield trajectory. The average APY moved from 5.58% to 3.77%.
Degen USDC has a yield volatility rating of "Moderate" (standard deviation: 1.60pp over 120 days). The APY has ranged from 2.09% to 10.97% in the tracked period, with an average of 5.26%.
Liquidity & TVL
Degen USDC currently has a total value locked (TVL) of $1.2M in USDC deposits.
Degen USDC holds $1.2M in USDC deposits. Across all 160 tracked USDC strategies, deposits range widely depending on the protocol and curator reputation. This vault's TVL of $1.2M places it within the broader spectrum of USDC opportunities tracked on Earnbase.
By total value locked, Degen USDC ranks #8 of 20 USDC strategies on Arbitrum. It currently holds $1.2M.
Degen USDC's TVL is currently declining. Over the past 120 days, TVL moved from $3.2M to $1.2M, a -64.3% change. The 30-day high was $4.6M and the 30-day low was $764.5K.
Rising yields have attracted capital, with both APY and TVL trending upward over the past 30 days. 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, Degen USDC had 10 days of inflows and 19 days of outflows. The largest single-day inflow was +$157.2K (Mar 27, 2026) and the largest outflow was -$116.6K (Mar 29, 2026). Net 30-day TVL change: +1.5%.
Strategy & Access
Degen USDC operates on the Arbitrum network and is managed by Morpho. It accepts USDC deposits. The strategy is curated by Yearn.
To deposit into Degen USDC, you need USDC tokens on the Arbitrum network. Visit the Morpho platform directly to connect your wallet and make a deposit.
Degen USDC ranks among 20 monitored USDC strategies on Arbitrum. Its yield of 8.77% is 88.8% above the Arbitrum average of 4.65%.
Degen USDC 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 Degen USDC 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 8.77% 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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