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 3.49%. The 30-day average APY is 4.17%. 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 |
|---|---|---|---|---|
| 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
USDC RWA
Opens external site. Rates may differ due to refresh timing.
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Yield Overview
USDC RWA is a USDC yield strategy on Morpho, curated by Steakhouse. It currently generates 3.49% APY (24h) with a 30-day average of 4.17%. 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 #85 out of 160 strategies. Its 3.49% yield is 41.8% lower than the market average of 5.99%.
How USDC RWA Compares
USDC RWA currently ranks #85 among 160 monitored USDC strategies. However, with a TVL of $14.5K, it holds significantly less capital than higher-TVL alternatives like Lend ($30.9M).
Ecosystem Context
Positioned within the Mainnet ecosystem, this product's yield is 42.8% lower than the network average for USDC strategies. This strategy is curated by Steakhouse, with 17 Steakhouse strategies tracked on Earnbase across 4 networks. Within Morpho, it competes against 63 other USDC strategies. By TVL, this product ranks #51 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#30 of 57
Yield Sustainability
Current yield of 3.49% shows a 16.5% variance from the 30-day average, well within normal operating bands.
Yield Trajectory
USDC RWA recorded a 24h APY of 3.49% 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 11.5%. The strongest 7-day period was Mar 14–Mar 20 averaging 4.61%, while the weakest was Mar 21–Mar 27 at 3.95%. Current 24h APY of 3.49% is 17.3% below the product's own 30-day average.
Weekly yields have improved for 1 consecutive week, with the most recent 7-day average of 4.40% representing a mid-range weekly performance in the tracked period.
Weekly Breakdown
Historical APY Statistics
Over the past 116 days, USDC RWA's yield has shown a upward trend, with yields expanding from 0.00% to 3.65%, a 27730890.0% increase. The sustainability score of 80/100 aligns with a period of relative yield stability.
Historical TVL Statistics
Over the past 121 days, USDC RWA's total value locked has experienced a contraction, declining from $15.3K to $14.5K, a 5.6% reduction.
History
FAQ
Yield & Performance
USDC RWA on Morpho offers a 24-hour APY of 3.49%, a 30-day average of 4.17% on USDC. Yields are variable and update daily based on protocol activity.
USDC RWA ranks #85 out of 160 monitored USDC strategies. Its current yield of 3.49% is 41.8% below the market average of 5.99%.
Earnbase rates the yield sustainability of USDC RWA at 80/100, classified as "Stable". Current yield of 3.49% shows a 16.5% variance from the 30-day average, well within normal operating bands.
Over the past 116 days, USDC RWA has shown an upward yield trajectory. The average APY moved from 0.00% to 3.65%.
USDC RWA has a yield volatility rating of "Moderate" (standard deviation: 1.93pp over 116 days). The APY has ranged from 0.00% to 5.92% in the tracked period, with an average of 1.20%.
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 160 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 #51 of 57 USDC strategies on Mainnet. It currently holds $14.5K.
USDC RWA's TVL is currently declining. Over the past 121 days, TVL moved from $15.3K to $14.5K, a -5.6% change. The 30-day high was $15.4K and the 30-day low was $14.4K.
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, USDC RWA had 23 days of inflows and 1 days of outflows. The largest single-day inflow was +$7 (Apr 02, 2026) and the largest outflow was -$3 (Apr 05, 2026). Net 30-day TVL change: +0.3%.
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 57 monitored USDC strategies on Mainnet. Its yield of 3.49% is 42.8% below the Mainnet average of 6.09%.
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 3.49% 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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