USDC
Morpho · Curated by MEV Capital · Mainnet
Frequently Asked Questions
What is the current APY for USDC?
The current spot APY for USDC on Morpho (Mainnet) is 4.27%. The 30-day average APY is 5.50%. All figures exclude external token rewards and are calculated from on-chain exchange rates only.
How much total value is locked in USDC?
The total value locked (TVL) in USDC is $6.1M. TVL measures the total USDC assets currently deposited in this vault.
Does the 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 USDC?
USDC is curated by MEV Capital. 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 MEV Capital on the MEV Capital 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
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Yield Overview
USDC is a USDC yield strategy on Morpho, curated by MEV Capital. It currently generates 4.27% APY (24h) with a 30-day average of 5.50%. The vault holds $6.1M in total value locked. APY is derived from the vault's on-chain exchange rate and does not include external incentives.
Curated by MEV Capital · Mainnet
Market Benchmarking
Within the USDC ecosystem, this product ranks #57 out of 160 strategies. Its 4.27% yield is 29.0% lower than the market average of 6.02%.
How USDC Compares
USDC currently ranks #57 among 160 monitored USDC strategies. However, with a TVL of $6.1M, it holds significantly less capital than higher-TVL alternatives like Earn ($3.15B).
Ecosystem Context
Positioned within the Mainnet ecosystem, this product's yield is 29.1% lower than the network average for USDC strategies. This strategy is curated by MEV Capital, with 7 MEV Capital strategies tracked on Earnbase across 3 networks. Within Morpho, it competes against 63 other USDC strategies. By TVL, this product ranks #20 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#18 of 57
Yield Sustainability
Yield is 22.4% below the monthly average.
Yield Trajectory
USDC recorded a 24h APY of 4.27% 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 declined by 19.9%. The strongest 7-day period was Mar 21–Mar 27 averaging 7.47%, while the weakest was Mar 07–Mar 13 at 4.20%. Current 24h APY of 4.27% is 23.4% below the product's own 30-day average.
Weekly yields have declined for 1 consecutive week. The most recent 7-day average stands at 5.98%.
Weekly Breakdown
Historical APY Statistics
Over the past 120 days, USDC's yield has shown a stable trend, with yields expanding from 5.58% to 5.46%, a 2.1% increase. The sustainability score of 73/100 aligns with moderate yield variability.
Historical TVL Statistics
Over the past 120 days, USDC's total value locked has experienced a contraction, declining from $21.3M to $8.9M, a 58.0% reduction.
History
FAQ
Yield & Performance
USDC on Morpho offers a 24-hour APY of 4.27%, a 30-day average of 5.50% on USDC. Yields are variable and update daily based on protocol activity.
USDC ranks #57 out of 160 monitored USDC strategies. Its current yield of 4.27% is 29.0% below the market average of 6.02%.
Earnbase rates the yield sustainability of USDC at 73/100, classified as "Moderate". Yield is 22.4% below the monthly average.
Over the past 120 days, USDC has shown a stable yield trajectory. The average APY moved from 5.58% to 5.46%.
USDC has a yield volatility rating of "Moderate" (standard deviation: 1.59pp over 120 days). The APY has ranged from 3.20% to 16.05% in the tracked period, with an average of 5.44%.
Liquidity & TVL
USDC currently has a total value locked (TVL) of $6.1M in USDC deposits.
USDC holds $6.1M in USDC deposits. Across all 160 tracked USDC strategies, deposits range widely depending on the protocol and curator reputation. This vault's TVL of $6.1M places it within the broader spectrum of USDC opportunities tracked on Earnbase.
By total value locked, USDC ranks #20 of 57 USDC strategies on Mainnet. It currently holds $6.1M.
USDC's TVL is currently declining. Over the past 120 days, TVL moved from $21.3M to $8.9M, a -58.0% change. The 30-day high was $27.6M and the 30-day low was $6.1M.
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, USDC had 7 days of inflows and 22 days of outflows. The largest single-day inflow was +$35.0K (Mar 18, 2026) and the largest outflow was -$2.3M (Mar 24, 2026). Net 30-day TVL change: -38.7%.
Strategy & Access
USDC operates on the Mainnet network and is managed by Morpho. It accepts USDC deposits. The strategy is curated by MEV Capital.
To deposit into USDC, you need USDC tokens on the Mainnet network. Visit the Morpho platform directly to connect your wallet and make a deposit.
USDC ranks among 57 monitored USDC strategies on Mainnet. Its yield of 4.27% is 29.1% below the Mainnet average of 6.02%.
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 USDC 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 4.27% 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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