Frequently Asked Questions
What is the current APY for Prime USDC?
The current spot APY for Prime USDC on Morpho (Base) is 4.26%. The 30-day average APY is 4.25%. All figures exclude external token rewards and are calculated from on-chain exchange rates only.
How much total value is locked in Prime USDC?
The total value locked (TVL) in Prime USDC is $372.1M. TVL measures the total USDC assets currently deposited in this vault.
Does the Prime 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 Prime USDC?
Prime USDC 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 |
|---|---|---|---|---|
| Bitcoin Dollar USDC | IPOR Fusion | Ethereum | 17.17% | $312.6K |
| Syntropia Boosted | Lagoon | Ethereum | 16.05% | $345.2K |
| 722Capital USDC | Lagoon | Base | 15.52% | $1.2M |
| Hyperithm (Private Credit) | Wildcat | Mainnet | 15.00% | $30.0M |
| mHYPER Looping | IPOR Fusion | Ethereum | 13.65% | $124.0K |
| Coinshift Conservative USPC | Lagoon | Ethereum | 13.33% | $193.5K |
| USDC Vault | 40 Acres | Base | 12.39% | $7.8M |
| Earn - avUSDC | Avantis | Base | 11.95% | $45.2M |
| Gami Stake DAO USDC | Lagoon | Ethereum | 11.91% | $303.9K |
| Syntropia USDC Core | Lagoon | Ethereum | 11.74% | $996.0K |
More Morpho Strategies
Prime USDC
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Yield Overview
Prime USDC is a USDC yield strategy on Morpho, curated by Gauntlet. It currently generates 4.26% APY (24h) with a 30-day average of 4.25%. The vault holds $372.1M in total value locked. APY is derived from the vault's on-chain exchange rate and does not include external incentives.
Curated by Gauntlet · Base
Market Benchmarking
Within the USDC ecosystem, this product ranks #74 out of 153 strategies. Its 4.26% yield is 5.7% lower than the market average of 4.51%.
How Prime USDC Compares
Ecosystem Context
Positioned within the Base ecosystem, this product's yield is 6.7% lower than the network average for USDC strategies. This strategy is curated by Gauntlet, with 14 Gauntlet strategies tracked on Earnbase across 5 networks. Within Morpho, it competes against 60 other USDC strategies. By TVL, this product ranks #2 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#25 of 45
Yield Sustainability
The 24h APY of 4.26% is nearly identical to the 30-day mean, with only a 0.1% variance. This level of consistency is uncommon in DeFi and reflects a mature, well-calibrated yield source with predictable returns.
Yield Trajectory
Prime USDC recorded a 24h APY of 4.26% 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 7.4%. The strongest 7-day period was May 13–May 19 averaging 4.60%, while the weakest was Apr 29–May 05 at 4.09%. Current 24h APY of 4.26% is 2.4% below the product's own 30-day average.
Weekly yields have improved for 2 consecutive weeks, with the most recent 7-day average of 4.60% representing a sustained weekly performance in the tracked period.
Weekly Breakdown
Historical APY Statistics
Over the past 165 days, Prime USDC's yield has shown a downward trend, with yields compressing from 5.05% to 4.24%, a 15.9% decline. The sustainability score of 100/100 aligns with a period of relative yield stability.
Historical TVL Statistics
Over the past 165 days, Prime USDC's total value locked has experienced a growth phase, growing from $261.9M to $357.0M, a 36.3% increase.
History
FAQ
Yield & Performance
Prime USDC on Morpho offers a 24-hour APY of 4.26%, a 30-day average of 4.25% on USDC. Yields are variable and update daily based on protocol activity.
Prime USDC ranks #74 out of 153 monitored USDC strategies. Its current yield of 4.26% is 5.7% below the market average of 4.51%.
Earnbase rates the yield sustainability of Prime USDC at 100/100, classified as "Very Stable". The 24h APY of 4.26% is nearly identical to the 30-day mean, with only a 0.1% variance. This level of consistency is uncommon in DeFi and reflects a mature, well-calibrated yield source with predictable returns.
Over the past 165 days, Prime USDC has shown a downward yield trajectory. The average APY moved from 5.05% to 4.24%.
Prime USDC has a yield volatility rating of "Moderate" (standard deviation: 0.71pp over 165 days). The APY has ranged from 2.70% to 6.05% in the tracked period, with an average of 4.37%.
Liquidity & TVL
Prime USDC currently has a total value locked (TVL) of $372.1M in USDC deposits.
Prime USDC holds $372.1M in USDC deposits. Across all 153 tracked USDC strategies, deposits range widely depending on the protocol and curator reputation. This vault's TVL of $372.1M places it within the broader spectrum of USDC opportunities tracked on Earnbase.
By total value locked, Prime USDC ranks #2 of 45 USDC strategies on Base. It currently holds $372.1M.
Prime USDC's TVL is currently on an upward trajectory. Over the past 165 days, TVL moved from $261.9M to $357.0M, a +36.3% change. The 30-day high was $437.7M and the 30-day low was $169.5M.
Yields are declining as more capital enters the vault, a common dynamic where increased deposits dilute per-depositor returns. 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, Prime USDC had 17 days of inflows and 12 days of outflows. The largest single-day inflow was +$17.4M (May 15, 2026) and the largest outflow was -$4.7M (May 17, 2026). Net 30-day TVL change: +10.1%.
Strategy & Access
Prime USDC operates on the Base network and is managed by Morpho. It accepts USDC deposits. The strategy is curated by Gauntlet.
To deposit into Prime USDC, you need USDC tokens on the Base network. Visit the Morpho platform directly to connect your wallet and make a deposit.
Prime USDC ranks among 45 monitored USDC strategies on Base. Its yield of 4.26% is 6.7% below the Base average of 4.56%.
Prime 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 Prime 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 4.26% 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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