Earnbase derives APY from each vault's on-chain exchange rate. This measures the actual growth of deposited USDT over time, based on the vault's smart contract data. Unlike some aggregators, Earnbase does not include external reward incentives, points programs, or token emissions in the displayed APY. The rates shown reflect native vault performance only.

While USDT is a stablecoin pegged to a fiat currency, the protocols generating yield carry smart contract risk. Higher APYs may indicate newer protocols, lower liquidity, or more aggressive lending parameters. Each listing on Earnbase includes TVL and a yield sustainability score to help assess risk. Always verify directly with the protocol before depositing.

Earnbase currently tracks 26 USDT yield strategies across 2 networks from 14 platforms. The largest coverage is on Morpho (9), Yearn (3), and IPOR Fusion (2). New strategies are added as they meet inclusion criteria.

USDT APY varies significantly across platforms and networks. On Earnbase, tracked strategies range from under 1% to over 14%. Rates above 8-10% typically involve more complex strategies such as leveraged looping or private credit, which carry additional risk. The average APY across all tracked USDT strategies provides a useful benchmark, shown on each vault's detail page.

Yes. Earnbase tracks USDT strategies on Ethereum (25 strategies) and Arbitrum (1). Use the network filter tabs above the table to compare APY rates on a specific chain. Each network has different gas costs, bridge requirements, and liquidity depth.

No. Earnbase is a free yield data aggregator. There are no fees for using the tracker or accessing yield data. Earnbase does not hold or manage funds. Links to individual vaults direct you to the protocol's own interface where you can deposit or withdraw.

USDT and USDC serve different borrower bases. USDT is more heavily used in perpetual futures and CeFi-DeFi arbitrage, creating demand spikes that push lending rates above USDC. This premium is not guaranteed and reverses when USDT borrowing demand drops.

Yes. Most DeFi vault curators prioritize USDC as their primary stablecoin, which means fewer curated USDT vaults exist. However, the smaller selection makes comparison simpler, and the strategies that do exist represent where institutional capital has concentrated.

Smokehouse is a higher-yield vault variant curated by Steakhouse Financial on Morpho. It accepts a broader range of collateral than Steakhouse's standard USDT vault, targeting elevated APY with correspondingly wider risk exposure. The name distinguishes it from Steakhouse's more conservative offerings.

The smart contract and protocol risks are similar, but the stablecoin issuer risk differs. USDT is issued by Tether with reserves that include various financial assets, while USDC is issued by Circle with reserves in cash and short-term U.S. Treasuries. Each depositor evaluates this issuer-level difference according to their own risk tolerance.