f(x) Protocol
Morpho · Curated by Re7 · Mainnet
Frequently Asked Questions
What is the current APY for f(x) Protocol?
The current spot APY for f(x) Protocol on Morpho (Mainnet) is 5.54%. The 30-day average APY is 7.18%. All figures exclude external token rewards and are calculated from on-chain exchange rates only.
How much total value is locked in f(x) Protocol?
The total value locked (TVL) in f(x) Protocol is $257.6K. TVL measures the total USDC assets currently deposited in this vault.
Does the f(x) Protocol 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 f(x) Protocol?
f(x) Protocol is curated by Re7. 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 Re7 on the Re7 curator page on Earnbase.
Compare with Other USDC Strategies
| Strategy | Platform | Network | APY | TVL |
|---|---|---|---|---|
| High Yield USDC | Morpho | Mainnet | 108.58% | $1.8M |
| Hub Capital USDC vault | Lagoon | Ethereum | 104.04% | $1.0M |
| V2 - ID:20 | Silo | Sonic | 72.48% | $8.5K |
| Resolv USDC | Euler | Mainnet | 33.98% | $2.3K |
| Apostro | Euler | BNB | 28.33% | $1.0K |
| Euler Arbitrum Yield | Euler | Arbitrum | 21.93% | $1.4K |
| Hyperithm (Private Credit) | Wildcat | Mainnet | 15.00% | $30.0M |
| wsrUSD (Leveraged Looping) | IPOR Fusion | Mainnet | 14.73% | $4.1M |
| TAU Reservoir Pointsmax | IPOR Fusion | Ethereum | 14.07% | $589.4K |
| Coinshift Conservative USPC | Lagoon | Ethereum | 11.19% | $340.1K |
More Morpho Strategies
f(x) Protocol
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Yield Overview
f(x) Protocol is a USDC yield strategy on Morpho, curated by Re7. It currently generates 5.54% APY (24h) with a 30-day average of 7.18%. The vault holds $257.6K in total value locked. APY is derived from the vault's on-chain exchange rate and does not include external incentives.
Curated by Re7 · Mainnet
Market Benchmarking
Within the USDC ecosystem, this product ranks #37 out of 160 strategies. Its 5.54% yield is 7.4% lower than the market average of 5.99%.
How f(x) Protocol Compares
f(x) Protocol currently ranks #37 among 160 monitored USDC strategies. However, with a TVL of $257.6K, it holds significantly less capital than higher-TVL alternatives like USDC to yvUSDS Farmer ($1.9M).
Ecosystem Context
Positioned within the Mainnet ecosystem, this product's yield is 9.0% lower than the network average for USDC strategies. This strategy is curated by Re7, with 13 Re7 strategies tracked on Earnbase across 4 networks. Within Morpho, it competes against 63 other USDC strategies. By TVL, this product ranks #41 of 57 USDC strategies on Mainnet.
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 Mainnet#12 of 57
Yield Sustainability
Yield is 22.8% below the monthly average.
Yield Trajectory
f(x) Protocol has been on a 2-day upward streak, with APY rising from 4.79% to 5.55% 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 28.3%. The strongest 7-day period was Mar 21–Mar 27 averaging 9.18%, while the weakest was Mar 14–Mar 20 at 5.44%. Current 24h APY of 5.54% is 24.5% below the product's own 30-day average.
Weekly yields have declined for 1 consecutive week. The most recent 7-day average stands at 6.58%.
Weekly Breakdown
Historical APY Statistics
Over the past 121 days, f(x) Protocol's yield has shown a upward trend, with yields expanding from 5.62% to 6.84%, a 21.6% increase. The sustainability score of 73/100 aligns with moderate yield variability.
Historical TVL Statistics
Over the past 121 days, f(x) Protocol's total value locked has experienced a period of stability, with TVL remaining relatively steady around $280.0K.
History
FAQ
Yield & Performance
f(x) Protocol on Morpho offers a 24-hour APY of 5.54%, a 30-day average of 7.18% on USDC. Yields are variable and update daily based on protocol activity.
f(x) Protocol ranks #37 out of 160 monitored USDC strategies. Its current yield of 5.54% is 7.4% below the market average of 5.99%.
Earnbase rates the yield sustainability of f(x) Protocol at 73/100, classified as "Moderate". Yield is 22.8% below the monthly average.
Over the past 121 days, f(x) Protocol has shown an upward yield trajectory. The average APY moved from 5.62% to 6.84%.
f(x) Protocol has a yield volatility rating of "High" (standard deviation: 2.39pp over 121 days). The APY has ranged from 0.61% to 19.19% in the tracked period, with an average of 6.06%.
Liquidity & TVL
f(x) Protocol currently has a total value locked (TVL) of $257.6K in USDC deposits.
f(x) Protocol holds $257.6K in USDC deposits. Across all 160 tracked USDC strategies, deposits range widely depending on the protocol and curator reputation. This vault's TVL of $257.6K places it within the broader spectrum of USDC opportunities tracked on Earnbase.
By total value locked, f(x) Protocol ranks #41 of 57 USDC strategies on Mainnet. It currently holds $257.6K.
f(x) Protocol's TVL is currently relatively stable. Over the past 121 days, TVL moved from $301.2K to $289.7K, a -3.8% change. The 30-day high was $553.8K and the 30-day low was $240.0K.
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, f(x) Protocol had 18 days of inflows and 11 days of outflows. The largest single-day inflow was +$45.0K (Mar 24, 2026) and the largest outflow was -$44.8K (Mar 25, 2026). Net 30-day TVL change: -9.3%.
Strategy & Access
f(x) Protocol operates on the Mainnet network and is managed by Morpho. It accepts USDC deposits. The strategy is curated by Re7.
To deposit into f(x) Protocol, you need USDC tokens on the Mainnet network. Visit the Morpho platform directly to connect your wallet and make a deposit.
f(x) Protocol ranks among 57 monitored USDC strategies on Mainnet. Its yield of 5.54% is 9.0% below the Mainnet average of 6.09%.
f(x) Protocol 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 f(x) Protocol 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 5.54% 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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