USDC RWA
Morpho · Curated by Steakhouse · Mainnet
Frequently Asked Questions
What is the current APY for USDC RWA?
The current spot APY for USDC RWA on Morpho (Mainnet) is 0.00%. The 30-day average APY is 0.00%. All figures exclude external token rewards and are calculated from on-chain exchange rates only.
How much total value is locked in USDC RWA?
The total value locked (TVL) in USDC RWA is $14.5K. TVL measures the total USDC assets currently deposited in this vault.
Does the USDC RWA 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 RWA?
USDC RWA 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
USDC RWA
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Yield Overview
USDC RWA is a USDC yield strategy on Morpho, curated by Steakhouse. It currently generates 0.00% APY (24h) with a 30-day average of 0.00%. The vault holds $14.5K in total value locked. APY is derived from the vault's on-chain exchange rate and does not include external incentives.
Curated by Steakhouse · Mainnet
Market Benchmarking
Within the USDC ecosystem, this product ranks #131 out of 153 strategies. Its 0.00% yield is 100.0% lower than the market average of 4.51%.
How USDC RWA Compares
USDC RWA currently ranks #131 among 153 monitored USDC strategies. However, with a TVL of $14.5K, it holds significantly less capital than higher-TVL alternatives like USDC Vault #1 ($6.8M).
Ecosystem Context
Positioned within the Mainnet ecosystem, this product's yield is 100.0% 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 #46 of 52 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 61 strategies on Morpho.
USDC on Mainnet#46 of 52
Yield Sustainability
The 24h APY of 0.00% is nearly identical to the 30-day mean, with only a 3.4% variance. This level of consistency is uncommon in DeFi and reflects a mature, well-calibrated yield source with predictable returns.
Yield Trajectory
USDC RWA has been on a 29-day flat streak, with APY rising from 0.00% to 0.00% over this period. Over the past 30 days, the product delivered positive yields on 28 out of 30 days. Week-over-week, yields have declined by 21.4%. The strongest 7-day period was Apr 21–Apr 27 averaging 0.00%, while the weakest was Apr 28–May 04 at 0.00%. Current 24h APY of 0.00% is 9.1% below the product's own 30-day average.
Weekly yields have declined for 1 consecutive week. The most recent 7-day average stands at 0.00%.
Weekly Breakdown
Historical APY Statistics
Over the past 158 days, USDC RWA's yield has shown a upward trend, with yields expanding from 0.00% to 0.99%, a 6589248.7% increase. The sustainability score of 96/100 aligns with a period of relative yield stability.
Historical TVL Statistics
Over the past 165 days, USDC RWA's total value locked has experienced a period of stability, with TVL remaining relatively steady around $14.7K.
History
FAQ
Yield & Performance
USDC RWA on Morpho offers a 24-hour APY of 0.00%, a 30-day average of 0.00% on USDC. Yields are variable and update daily based on protocol activity.
USDC RWA ranks #131 out of 153 monitored USDC strategies. Its current yield of 0.00% is 100.0% below the market average of 4.51%.
Earnbase rates the yield sustainability of USDC RWA at 96/100, classified as "Very Stable". The 24h APY of 0.00% is nearly identical to the 30-day mean, with only a 3.4% variance. This level of consistency is uncommon in DeFi and reflects a mature, well-calibrated yield source with predictable returns.
Over the past 158 days, USDC RWA has shown an upward yield trajectory. The average APY moved from 0.00% to 0.99%.
USDC RWA has a yield volatility rating of "Moderate" (standard deviation: 1.76pp over 158 days). The APY has ranged from 0.00% to 5.92% in the tracked period, with an average of 0.94%.
Liquidity & TVL
USDC RWA currently has a total value locked (TVL) of $14.5K in USDC deposits.
USDC RWA holds $14.5K in USDC deposits. Across all 153 tracked USDC strategies, deposits range widely depending on the protocol and curator reputation. This vault's TVL of $14.5K places it within the broader spectrum of USDC opportunities tracked on Earnbase.
By total value locked, USDC RWA ranks #46 of 52 USDC strategies on Mainnet. It currently holds $14.5K.
USDC RWA's TVL is currently relatively stable. Over the past 165 days, TVL moved from $15.1K to $14.5K, a -3.9% change. The 30-day high was $15.4K and the 30-day low was $14.4K.
Both yield and TVL are declining, and depositors may be exiting in response to falling 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, USDC RWA had 9 days of inflows and 10 days of outflows. The largest single-day inflow was +$4 (May 09, 2026) and the largest outflow was -$4 (May 14, 2026). Net 30-day TVL change: -0.0%.
Strategy & Access
USDC RWA operates on the Mainnet network and is managed by Morpho. It accepts USDC deposits. The strategy is curated by Steakhouse.
To deposit into USDC RWA, you need USDC tokens on the Mainnet network. Visit the Morpho platform directly to connect your wallet and make a deposit.
USDC RWA ranks among 52 monitored USDC strategies on Mainnet. Its yield of 0.00% is 100.0% below the Mainnet average of 3.88%.
USDC RWA 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 RWA 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 0.00% 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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