USDT Prime
Morpho · Curated by Gauntlet · Mainnet
Frequently Asked Questions
What is the current APY for USDT Prime?
The current spot APY for USDT Prime on Morpho (Mainnet) is 3.52%. The 30-day average APY is 3.05%. All figures exclude external token rewards and are calculated from on-chain exchange rates only.
How much total value is locked in USDT Prime?
The total value locked (TVL) in USDT Prime is $14.9M. TVL measures the total USDT assets currently deposited in this vault.
Does the USDT Prime 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 USDT Prime?
USDT Prime is curated by Gauntlet. 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 Gauntlet on the Gauntlet curator page on Earnbase.
Compare with Other USDT Strategies
| Strategy | Platform | Network | APY | TVL |
|---|---|---|---|---|
| DeltaUSD | Lagoon | Mainnet | 14.40% | $658.3K |
| Wintermute Trading (Private Credit) | Wildcat | Mainnet | 9.50% | $456.1K |
| K3 Leveraged syrupUSDT Strategy | IPOR Fusion | Mainnet | 6.17% | $579.4K |
| Lend | Flux Finance | Mainnet | 4.55% | $1.7M |
| Smokehouse USDT | Morpho | Mainnet | 4.17% | $39.4M |
| DAMM Stablecoin Fund | Lagoon | Arbitrum | 3.87% | $1.9M |
| Fluid Autocompounder | Harvest | Mainnet | 3.60% | $180.6K |
| USDT | Morpho | Mainnet | 3.52% | $139.3M |
| Vault 1 | Yearn | Mainnet | 3.38% | $7.6M |
| USDT Prime V2 | Morpho | Ethereum | 3.33% | $503.0K |
More Morpho Strategies
USDT Prime
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Yield Overview
USDT Prime is a USDT yield strategy on Morpho, curated by Gauntlet. It currently generates 3.52% APY (24h) with a 30-day average of 3.05%. The vault holds $14.9M in total value locked. APY is derived from the vault's on-chain exchange rate and does not include external incentives.
Curated by Gauntlet · Mainnet
Market Benchmarking
Within the USDT ecosystem, this product ranks #9 out of 26 strategies. Its 3.52% yield is 9.8% higher than the market average of 3.20%. While not the highest available, this strategy outperforms the majority of tracked USDT opportunities.
How USDT Prime Compares
USDT Prime currently ranks #9 among 26 monitored USDT strategies. However, with a TVL of $14.9M, it holds significantly less capital than higher-TVL alternatives like USDT ($139.3M).
Ecosystem Context
Positioned within the Mainnet ecosystem, this product's yield is 11.1% higher than the network average for USDT strategies. This strategy is curated by Gauntlet, with 37 Gauntlet strategies tracked on Earnbase across 5 networks. Within Morpho, it competes against 8 other USDT strategies. By TVL, this product ranks #7 of 23 USDT 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.
USDT on Mainnet#8 of 23
Yield Sustainability
Current yield of 3.52% shows a 15.2% variance from the 30-day average, well within normal operating bands.
Yield Trajectory
USDT Prime has been on a 2-day upward streak, with APY rising from 2.55% to 3.00% over this period. Over the past 30 days, the product delivered positive yields on 30 out of 30 days. Week-over-week, yields have declined by 13.8%. The strongest 7-day period was Mar 14–Mar 20 averaging 3.35%, while the weakest was Mar 28–Apr 03 at 2.74%. Current 24h APY of 3.52% is 16.4% above the product's own 30-day average.
Weekly yields have declined for 2 consecutive weeks. The most recent 7-day average stands at 2.74%.
Weekly Breakdown
Historical APY Statistics
Over the past 120 days, USDT Prime's yield has shown a upward trend, with yields expanding from 2.79% to 3.05%, a 9.2% increase. The sustainability score of 82/100 aligns with a period of relative yield stability.
Historical TVL Statistics
Over the past 120 days, USDT Prime's total value locked has experienced a growth phase, growing from $5.4M to $10.0M, a 84.4% increase.
History
FAQ
Yield & Performance
USDT Prime on Morpho offers a 24-hour APY of 3.52%, a 30-day average of 3.05% on USDT. Yields are variable and update daily based on protocol activity.
USDT Prime ranks #9 out of 26 monitored USDT strategies. Its current yield of 3.52% is 9.8% above the market average of 3.20%.
Earnbase rates the yield sustainability of USDT Prime at 82/100, classified as "Stable". Current yield of 3.52% shows a 15.2% variance from the 30-day average, well within normal operating bands.
Over the past 120 days, USDT Prime has shown an upward yield trajectory. The average APY moved from 2.79% to 3.05%.
USDT Prime has a yield volatility rating of "Moderate" (standard deviation: 0.94pp over 120 days). The APY has ranged from 1.72% to 6.88% in the tracked period, with an average of 2.89%.
Liquidity & TVL
USDT Prime currently has a total value locked (TVL) of $14.9M in USDT deposits.
USDT Prime holds $14.9M in USDT deposits. Across all 26 tracked USDT strategies, deposits range widely depending on the protocol and curator reputation. This vault's TVL of $14.9M places it within the broader spectrum of USDT opportunities tracked on Earnbase.
By total value locked, USDT Prime ranks #7 of 23 USDT strategies on Mainnet. It currently holds $14.9M.
USDT Prime's TVL is currently on an upward trajectory. Over the past 120 days, TVL moved from $5.4M to $10.0M, a +84.4% change. The 30-day high was $16.2M and the 30-day low was $3.0M.
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, USDT Prime had 16 days of inflows and 13 days of outflows. The largest single-day inflow was +$7.7M (Mar 20, 2026) and the largest outflow was -$4.5M (Mar 21, 2026). Net 30-day TVL change: +110.1%.
Strategy & Access
USDT Prime operates on the Mainnet network and is managed by Morpho. It accepts USDT deposits. The strategy is curated by Gauntlet.
To deposit into USDT Prime, you need USDT tokens on the Mainnet network. Visit the Morpho platform directly to connect your wallet and make a deposit.
USDT Prime ranks among 23 monitored USDT strategies on Mainnet. Its yield of 3.52% is 11.1% above the Mainnet average of 3.17%.
USDT Prime 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 USDT Prime 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 3.52% on-chain APY for USDT. 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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