Smokehouse USDC
Morpho · Mainnet
Frequently Asked Questions
What is the current APY for Smokehouse USDC?
The current spot APY for Smokehouse USDC on Morpho (Mainnet) is 4.55%. The 30-day average APY is 6.25%. All figures exclude external token rewards and are calculated from on-chain exchange rates only.
How much total value is locked in Smokehouse USDC?
The total value locked (TVL) in Smokehouse USDC is $27.1M. TVL measures the total USDC assets currently deposited in this vault.
Does the Smokehouse 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.
Which network is Smokehouse USDC deployed on?
Smokehouse USDC is deployed on Mainnet. Network choice affects transaction costs, settlement speed, and which protocols are available. On-chain APY figures on Earnbase are calculated from exchange rate data on Mainnet directly.
Compare with Other USDC Strategies
| Strategy | Platform | Network | APY | TVL |
|---|---|---|---|---|
| Coinshift Conservative USPC | Lagoon | Ethereum | 23.83% | $192.8K |
| USDC Vault | Morpho | Mainnet | 21.58% | $38.1K |
| USDC Yield | Morpho | Arbitrum | 19.00% | $104.3K |
| Bitcoin Dollar USDC | IPOR Fusion | Ethereum | 18.81% | $310.9K |
| 9Summits Flagship USDC | Lagoon | Ethereum | 16.68% | $4.1M |
| Syntropia Boosted | Lagoon | Ethereum | 16.05% | $345.2K |
| Arcadia V2 Pool | Arcadia | Base | 15.23% | $323.2K |
| Hyperithm (Private Credit) | Wildcat | Mainnet | 15.00% | $30.0M |
| Arcadia Autocompounder | Harvest | Base | 12.35% | $131.3K |
| USDC Vault | 40 Acres | Base | 12.09% | $8.3M |
More Morpho Strategies
Smokehouse USDC
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Yield Overview
Smokehouse USDC is a USDC yield strategy on Morpho (Mainnet). It currently generates 4.55% APY (24h) with a 30-day average of 6.25%. The vault holds $27.1M in total value locked. APY is derived from the vault's on-chain exchange rate and does not include external incentives.
Morpho · Mainnet
Market Benchmarking
Within the USDC ecosystem, this product ranks #62 out of 153 strategies. Its 4.55% yield is 7.3% lower than the market average of 4.91%.
How Smokehouse USDC Compares
Ecosystem Context
Positioned within the Mainnet ecosystem, this product's yield is 0.9% higher than the network average for USDC strategies. Within Morpho, it competes against 60 other USDC strategies. By TVL, this product ranks #8 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#18 of 52
Yield Sustainability
Yield is 27.2% below the monthly average.
Yield Trajectory
Smokehouse USDC recorded a 24h APY of 4.55% 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 1.1%. The strongest 7-day period was Apr 19–Apr 25 averaging 9.04%, while the weakest was May 03–May 09 at 5.37%. Current 24h APY of 4.55% is 28.2% below the product's own 30-day average.
Weekly yields have declined for 2 consecutive weeks. The most recent 7-day average stands at 5.37%.
Weekly Breakdown
Historical APY Statistics
Over the past 157 days, Smokehouse USDC's yield has shown a upward trend, with yields expanding from 5.16% to 5.90%, a 14.5% increase. The sustainability score of 67/100 aligns with moderate yield variability.
Historical TVL Statistics
Over the past 157 days, Smokehouse USDC's total value locked has experienced a contraction, declining from $129.8M to $47.5M, a 63.4% reduction.
History
FAQ
Yield & Performance
Smokehouse USDC on Morpho offers a 24-hour APY of 4.55%, a 30-day average of 6.25% on USDC. Yields are variable and update daily based on protocol activity.
Smokehouse USDC ranks #62 out of 153 monitored USDC strategies. Its current yield of 4.55% is 7.3% below the market average of 4.91%.
Earnbase rates the yield sustainability of Smokehouse USDC at 67/100, classified as "Moderate". Yield is 27.2% below the monthly average.
Over the past 157 days, Smokehouse USDC has shown an upward yield trajectory. The average APY moved from 5.16% to 5.90%.
Smokehouse USDC has a yield volatility rating of "Moderate" (standard deviation: 1.75pp over 157 days). The APY has ranged from 3.08% to 18.89% in the tracked period, with an average of 5.09%.
Liquidity & TVL
Smokehouse USDC currently has a total value locked (TVL) of $27.1M in USDC deposits.
Smokehouse USDC holds $27.1M in USDC deposits. Across all 153 tracked USDC strategies, deposits range widely depending on the protocol and curator reputation. This vault's TVL of $27.1M places it within the broader spectrum of USDC opportunities tracked on Earnbase.
By total value locked, Smokehouse USDC ranks #8 of 52 USDC strategies on Mainnet. It currently holds $27.1M.
Smokehouse USDC's TVL is currently declining. Over the past 157 days, TVL moved from $129.8M to $47.5M, a -63.4% change. The 30-day high was $157.5M and the 30-day low was $26.8M.
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, Smokehouse USDC had 13 days of inflows and 16 days of outflows. The largest single-day inflow was +$3.0M (Apr 16, 2026) and the largest outflow was -$18.2M (Apr 24, 2026). Net 30-day TVL change: -53.1%.
Strategy & Access
Smokehouse USDC operates on the Mainnet network and is managed by Morpho. It accepts USDC deposits.
To deposit into Smokehouse USDC, you need USDC tokens on the Mainnet network. Visit the Morpho platform directly to connect your wallet and make a deposit.
Smokehouse USDC ranks among 52 monitored USDC strategies on Mainnet. Its yield of 4.55% is 0.9% above the Mainnet average of 4.51%.
Smokehouse 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 Smokehouse 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 4.55% 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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