High Yield USDC
Morpho · Curated by Steakhouse · Base
Frequently Asked Questions
What is the current APY for High Yield USDC?
The current spot APY for High Yield USDC on Morpho (Base) is 3.35%. The 30-day average APY is 3.32%. All figures exclude external token rewards and are calculated from on-chain exchange rates only.
How much total value is locked in High Yield USDC?
The total value locked (TVL) in High Yield USDC is $58.5K. TVL measures the total USDC assets currently deposited in this vault.
Does the High Yield 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 High Yield USDC?
High Yield USDC 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 USDC Strategies
| Strategy | Platform | Network | APY | TVL |
|---|---|---|---|---|
| Syntropia Boosted | Lagoon | Ethereum | 16.05% | $345.2K |
| Bitcoin Dollar USDC | IPOR Fusion | Ethereum | 15.62% | $312.8K |
| 722Capital USDC | Lagoon | Base | 15.52% | $1.2M |
| Hyperithm (Private Credit) | Wildcat | Mainnet | 15.00% | $30.0M |
| USDC Vault | 40 Acres | Base | 13.74% | $8.1M |
| mHYPER Looping | IPOR Fusion | Ethereum | 13.70% | $124.0K |
| Coinshift Conservative USPC | Lagoon | Ethereum | 13.33% | $193.5K |
| 40 Acres Autocompounder | Harvest | Base | 12.24% | $2.0M |
| Earn - avUSDC | Avantis | Base | 11.98% | $45.3M |
| Gami Stake DAO USDC | Lagoon | Ethereum | 11.91% | $303.9K |
More Morpho Strategies
High Yield USDC
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Yield Overview
High Yield USDC is a USDC yield strategy on Morpho, curated by Steakhouse. It currently generates 3.35% APY (24h) with a 30-day average of 3.32%. The vault holds $58.5K in total value locked. APY is derived from the vault's on-chain exchange rate and does not include external incentives.
Curated by Steakhouse · Base
Market Benchmarking
Within the USDC ecosystem, this product ranks #94 out of 153 strategies. Its 3.35% yield is 25.7% lower than the market average of 4.51%.
How High Yield USDC Compares
High Yield USDC currently ranks #94 among 153 monitored USDC strategies. However, with a TVL of $58.5K, it holds significantly less capital than higher-TVL alternatives like Steakhouse ($293.5M).
Ecosystem Context
Positioned within the Base ecosystem, this product's yield is 32.4% lower than the network average for USDC strategies. This strategy is curated by Steakhouse, with 10 Steakhouse strategies tracked on Earnbase across 3 networks. Within Morpho, it competes against 60 other USDC strategies. By TVL, this product ranks #41 of 45 USDC strategies on Base.
About Morpho
Morpho is a decentralized lending protocol that enables the creation of isolated lending markets and curated vaults. Earnbase tracks 61 strategies on Morpho.
USDC on Base#34 of 45
Yield Sustainability
This is a private credit product with a contractually fixed yield rate of 3.35%. The yield does not fluctuate based on market conditions.
Yield Trajectory
Weekly Breakdown
Historical APY Statistics
Over the past 165 days, High Yield USDC's yield has shown a downward trend, with yields compressing from 5.04% to 3.76%, a 25.4% decline. The sustainability score of 99/100 aligns with a period of relative yield stability.
Historical TVL Statistics
Over the past 165 days, High Yield USDC's total value locked has experienced a contraction, declining from $335.1K to $133.6K, a 60.1% reduction.
History
FAQ
Yield & Performance
High Yield USDC offers a fixed yield of 3.35% on USDC. This rate is contractually set and remains constant regardless of market conditions.
High Yield USDC ranks #94 out of 153 monitored USDC strategies. Its current yield of 3.35% is 25.7% below the market average of 4.51%.
High Yield USDC has a sustainability score of 100 out of 100, reflecting its fixed-rate structure.
High Yield USDC maintains a constant APY of 3.35% as a private credit instrument.
Liquidity & TVL
High Yield USDC currently has a total value locked (TVL) of $58.5K in USDC deposits.
High Yield USDC holds $58.5K in USDC deposits. Across all 153 tracked USDC strategies, deposits range widely depending on the protocol and curator reputation. This vault's TVL of $58.5K places it within the broader spectrum of USDC opportunities tracked on Earnbase.
By total value locked, High Yield USDC ranks #41 of 45 USDC strategies on Base. It currently holds $58.5K.
High Yield USDC's TVL is currently declining. Over the past 165 days, TVL moved from $335.1K to $133.6K, a -60.1% change. The 30-day high was $351.2K and the 30-day low was $10.9K.
Over the past 30 days, High Yield USDC had 23 days of inflows and 6 days of outflows. The largest single-day inflow was +$47.5K (May 15, 2026) and the largest outflow was -$105.8K (May 13, 2026). Net 30-day TVL change: -67.4%.
Strategy & Access
High Yield USDC operates on the Base network and is managed by Morpho. It accepts USDC deposits. The strategy is curated by Steakhouse.
To deposit into High Yield USDC, you need USDC tokens on the Base network. Visit the Morpho platform directly to connect your wallet and make a deposit.
High Yield USDC ranks among 45 monitored USDC strategies on Base. Its yield of 3.35% is 32.4% below the Base average of 4.95%.
High Yield 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 High Yield USDC operates on. It provides the smart contract layer for deposits, withdrawals, and strategy execution on the Base network.
For illustrative purposes only. Based on the current 3.35% on-chain APY for USDC. This is a fixed-rate product.
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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