Frequently Asked Questions
What is the current APY for USDC Yield V2?
The current spot APY for USDC Yield V2 on Morpho (Ethereum) is 6.06%. The 30-day average APY is 6.65%. 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 $3.7M. 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 |
|---|---|---|---|---|
| Syntropia Boosted | Lagoon | Ethereum | 16.05% | $345.2K |
| 722Capital USDC | Lagoon | Base | 15.52% | $1.2M |
| Bitcoin Dollar USDC | IPOR Fusion | Ethereum | 15.49% | $312.7K |
| Hyperithm (Private Credit) | Wildcat | Mainnet | 15.00% | $30.0M |
| mHYPER Looping | IPOR Fusion | Ethereum | 14.56% | $124.0K |
| USDC Vault | 40 Acres | Base | 13.74% | $8.1M |
| Coinshift Conservative USPC | Lagoon | Ethereum | 13.33% | $193.5K |
| 40 Acres Autocompounder | Harvest | Base | 12.25% | $2.0M |
| Hub Capital USDC vault | Lagoon | Ethereum | 12.16% | $993.0K |
| Earn - avUSDC | Avantis | Base | 11.97% | $45.3M |
More Morpho Strategies
USDC Yield V2
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Yield Overview
USDC Yield V2 is a USDC yield strategy on Morpho, curated by kpk. It currently generates 6.06% APY (24h) with a 30-day average of 6.65%. The vault holds $3.7M 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 #40 out of 155 strategies. Its 6.06% yield is 27.2% higher than the market average of 4.76%. 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 21.1% lower 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 #2 of 20 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#12 of 20
Yield Sustainability
Current yield of 6.06% shows a 8.9% variance from the 30-day average, well within normal operating bands.
Yield Trajectory
USDC Yield V2 recorded a 24h APY of 6.06% 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 9.5%. The strongest 7-day period was Apr 28–May 04 averaging 7.77%, while the weakest was May 12–May 18 at 5.82%. Current 24h APY of 6.06% is 10.1% below the product's own 30-day average.
Weekly yields have declined for 2 consecutive weeks. The most recent 7-day average stands at 5.82%.
Weekly Breakdown
Historical APY Statistics
Over the past 69 days, USDC Yield V2's yield has shown a downward trend, with yields compressing from 14.37% to 6.62%, a 53.9% decline. The sustainability score of 89/100 aligns with a period of relative yield stability.
Historical TVL Statistics
Over the past 69 days, USDC Yield V2's total value locked has experienced a growth phase, growing from $2.7M to $4.2M, a 54.0% increase.
History
FAQ
Yield & Performance
USDC Yield V2 on Morpho offers a 24-hour APY of 6.06%, a 30-day average of 6.65% on USDC. Yields are variable and update daily based on protocol activity.
USDC Yield V2 ranks #40 out of 155 monitored USDC strategies. Its current yield of 6.06% is 27.2% above the market average of 4.76%.
Earnbase rates the yield sustainability of USDC Yield V2 at 89/100, classified as "Stable". Current yield of 6.06% shows a 8.9% variance from the 30-day average, well within normal operating bands.
Over the past 69 days, USDC Yield V2 has shown a downward yield trajectory. The average APY moved from 14.37% to 6.62%.
USDC Yield V2 has a yield volatility rating of "High" (standard deviation: 19.83pp over 69 days). The APY has ranged from 4.55% to 172.07% in the tracked period, with an average of 9.41%.
Liquidity & TVL
USDC Yield V2 currently has a total value locked (TVL) of $3.7M in USDC deposits.
USDC Yield V2 holds $3.7M in USDC deposits. Across all 155 tracked USDC strategies, deposits range widely depending on the protocol and curator reputation. This vault's TVL of $3.7M places it within the broader spectrum of USDC opportunities tracked on Earnbase.
By total value locked, USDC Yield V2 ranks #2 of 20 USDC strategies on Ethereum. It currently holds $3.7M.
USDC Yield V2's TVL is currently on an upward trajectory. Over the past 69 days, TVL moved from $2.7M to $4.2M, a +54.0% change. The 30-day high was $6.5M and the 30-day low was $882.2K.
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 Yield V2 had 9 days of inflows and 20 days of outflows. The largest single-day inflow was +$985.2K (May 05, 2026) and the largest outflow was -$706.2K (Apr 24, 2026). Net 30-day TVL change: -15.6%.
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 20 monitored USDC strategies on Ethereum. Its yield of 6.06% is 21.1% below the Ethereum average of 7.68%.
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 6.06% 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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