Frequently Asked Questions
What is the current APY for USDC Yield V2?
The current spot APY for USDC Yield V2 on Morpho (Ethereum) is 7.00%. The 30-day average APY is 7.50%. All figures exclude external token rewards and are calculated from on-chain exchange rates only.
How much total value is locked in USDC Yield V2?
The total value locked (TVL) in USDC Yield V2 is $5.9M. TVL measures the total USDC assets currently deposited in this vault.
Does the USDC Yield V2 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 Yield V2?
USDC Yield V2 is curated by kpk. 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 kpk on the kpk curator page on Earnbase.
Compare with Other USDC Strategies
| Strategy | Platform | Network | APY | TVL |
|---|---|---|---|---|
| wsrUSD (Leveraged Looping) | IPOR Fusion | Mainnet | 17.23% | $960.3K |
| mHYPER Looping | IPOR Fusion | Ethereum | 15.43% | $122.2K |
| Hyperithm (Private Credit) | Wildcat | Mainnet | 15.00% | $30.0M |
| USDC Vault | 40 Acres | Base | 14.67% | $7.4M |
| TAU Reservoir Pointsmax | IPOR Fusion | Ethereum | 13.31% | $42.4K |
| 40 Acres Autocompounder | Harvest | Base | 13.06% | $1.9M |
| Syntropia Boosted | Lagoon | Ethereum | 12.96% | $353.3K |
| Swaap Lend | Euler | Mainnet | 10.82% | $77.1K |
| Earn - avUSDC | Avantis | Base | 10.12% | $30.1M |
| USDC | Lagoon | Mainnet | 9.09% | $9.0M |
More Morpho Strategies
USDC Yield V2
Opens external site. Rates may differ due to refresh timing.
Opens external site. Rates may differ due to refresh timing.
Yield Overview
USDC Yield V2 is a USDC yield strategy on Morpho, curated by kpk. It currently generates 7.00% APY (24h) with a 30-day average of 7.50%. The vault holds $5.9M in total value locked. APY is derived from the vault's on-chain exchange rate and does not include external incentives.
Curated by kpk · Ethereum
Market Benchmarking
Within the USDC ecosystem, this product ranks #23 out of 154 strategies. Its 7.00% yield is 60.2% higher than the market average of 4.37%. While not the highest available, this strategy outperforms the majority of tracked USDC opportunities.
How USDC Yield V2 Compares
Ecosystem Context
Positioned within the Ethereum ecosystem, this product's yield is 1.3% higher than the network average for USDC strategies. This strategy is curated by kpk, with 3 kpk strategies tracked on Earnbase across 3 networks. Within Morpho, it competes against 61 other USDC strategies. By TVL, this product ranks #3 of 19 USDC strategies on Ethereum.
About Morpho
Morpho is a decentralized lending protocol that enables the creation of isolated lending markets and curated vaults. Earnbase tracks 62 strategies on Morpho.
USDC on Ethereum#10 of 19
Yield Sustainability
The 24h APY of 7.00% is nearly identical to the 30-day mean, with only a 6.8% variance. This level of consistency is uncommon in DeFi and reflects a mature, well-calibrated yield source with predictable returns.
Yield Trajectory
USDC Yield V2 has been on a 3-day downward streak, with APY falling from 8.22% to 7.00% over this period. Over the past 30 days, the product delivered positive yields on 30 out of 30 days. Week-over-week, yields have increased by 31.4%. The strongest 7-day period was Jun 26–Jul 02 averaging 8.92%, while the weakest was Jun 12–Jun 18 at 5.96%. Current 24h APY of 7.00% is 0.3% above the product's own 30-day average.
Weekly yields have improved for 2 consecutive weeks, with the most recent 7-day average of 8.92% representing a sustained weekly performance in the tracked period.
Weekly Breakdown
Historical APY Statistics
Over the past 108 days, USDC Yield V2's yield has shown a downward trend, with yields compressing from 11.43% to 6.83%, a 40.2% decline. The sustainability score of 92/100 aligns with a period of relative yield stability.
Historical TVL Statistics
Over the past 108 days, USDC Yield V2's total value locked has experienced a period of stability, with TVL remaining relatively steady around $3.9M.
History
FAQ
Yield & Performance
USDC Yield V2 on Morpho offers a 24-hour APY of 7.00%, a 30-day average of 7.50% on USDC. Yields are variable and update daily based on protocol activity.
USDC Yield V2 ranks #23 out of 154 monitored USDC strategies. Its current yield of 7.00% is 60.2% above the market average of 4.37%.
Earnbase rates the yield sustainability of USDC Yield V2 at 92/100, classified as "Very Stable". The 24h APY of 7.00% is nearly identical to the 30-day mean, with only a 6.8% variance. This level of consistency is uncommon in DeFi and reflects a mature, well-calibrated yield source with predictable returns.
Over the past 108 days, USDC Yield V2 has shown a downward yield trajectory. The average APY moved from 11.43% to 6.83%.
USDC Yield V2 has a yield volatility rating of "High" (standard deviation: 15.92pp over 108 days). The APY has ranged from 4.55% to 172.07% in the tracked period, with an average of 8.45%.
Liquidity & TVL
USDC Yield V2 currently has a total value locked (TVL) of $5.9M in USDC deposits.
USDC Yield V2 holds $5.9M in USDC deposits. Across all 154 tracked USDC strategies, deposits range widely depending on the protocol and curator reputation. This vault's TVL of $5.9M places it within the broader spectrum of USDC opportunities tracked on Earnbase.
By total value locked, USDC Yield V2 ranks #3 of 19 USDC strategies on Ethereum. It currently holds $5.9M.
USDC Yield V2's TVL is currently relatively stable. Over the past 108 days, TVL moved from $3.8M to $3.9M, a +3.8% change. The 30-day high was $7.7M and the 30-day low was $882.2K.
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 Yield V2 had 14 days of inflows and 15 days of outflows. The largest single-day inflow was +$3.0M (Jun 26, 2026) and the largest outflow was -$1.8M (Jul 04, 2026). Net 30-day TVL change: +79.8%.
Strategy & Access
USDC Yield V2 operates on the Ethereum network and is managed by Morpho. It accepts USDC deposits. The strategy is curated by kpk.
To deposit into USDC Yield V2, you need USDC tokens on the Ethereum network. Visit the Morpho platform directly to connect your wallet and make a deposit.
USDC Yield V2 ranks among 19 monitored USDC strategies on Ethereum. Its yield of 7.00% is 1.3% above the Ethereum average of 6.90%.
USDC Yield V2 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 Yield V2 operates on. It provides the smart contract layer for deposits, withdrawals, and strategy execution on the Ethereum network.
For illustrative purposes only. Based on the current 7.00% 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.
Deposit Asset