USDT Prime V2
Morpho · Curated by kpk · Ethereum
Frequently Asked Questions
What is the current APY for USDT Prime V2?
The current spot APY for USDT Prime V2 on Morpho (Ethereum) is 3.33%. The 30-day average APY is 2.48%. All figures exclude external token rewards and are calculated from on-chain exchange rates only.
How much total value is locked in USDT Prime V2?
The total value locked (TVL) in USDT Prime V2 is $503.0K. TVL measures the total USDT assets currently deposited in this vault.
Does the USDT Prime 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 USDT Prime V2?
USDT Prime 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 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 |
| USDT Prime | Morpho | Mainnet | 3.52% | $14.9M |
| Vault 1 | Yearn | Mainnet | 3.38% | $7.6M |
More Morpho Strategies
USDT Prime V2
Opens external site. Rates may differ due to refresh timing.
Opens external site. Rates may differ due to refresh timing.
Yield Overview
USDT Prime V2 is a USDT yield strategy on Morpho, curated by kpk. It currently generates 3.33% APY (24h) with a 30-day average of 2.48%. The vault holds $503.0K 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 USDT ecosystem, this product ranks #11 out of 26 strategies. Its 3.33% yield is 0.12pp above the market average of 3.20%. While not the highest available, this strategy outperforms the majority of tracked USDT opportunities.
How USDT Prime V2 Compares
USDT Prime V2 currently ranks #11 among 26 monitored USDT strategies. However, with a TVL of $503.0K, it holds significantly less capital than higher-TVL alternatives like USDT ($139.3M).
Ecosystem Context
Positioned within the Ethereum ecosystem, this product's yield is 1.4% higher than the network average for USDT strategies. Currently the highest-yielding USDT opportunity on Ethereum among 2 tracked products. This strategy is curated by kpk, with 6 kpk strategies tracked on Earnbase across 3 networks. Within Morpho, it competes against 8 other USDT strategies. By TVL, this product ranks #1 of 2 USDT strategies on Ethereum.
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 Ethereum#1 of 2
Yield Sustainability
Yield is 34.0% above the monthly average.
Yield Trajectory
USDT Prime V2 has been on a 2-day upward streak, with APY rising from 2.52% to 2.98% over this period. Over the past 7 days, the product delivered positive yields on 7 out of 7 days. Current 24h APY of 3.33% is 11.8% above the product's own 30-day average.
Historical APY Statistics
Over the past 7 days, USDT Prime V2's yield has shown a stable trend, with yields expanding from 2.81% to 2.75%, a 2.0% increase. The sustainability score of 59/100 aligns with moderate yield variability.
Historical TVL Statistics
Over the past 7 days, USDT Prime V2's total value locked has experienced a period of stability, with TVL remaining relatively steady around $502.6K.
History
FAQ
Yield & Performance
USDT Prime V2 on Morpho offers a 24-hour APY of 3.33%, a 30-day average of 2.48% on USDT. Yields are variable and update daily based on protocol activity.
USDT Prime V2 ranks #11 out of 26 monitored USDT strategies. Its current yield of 3.33% is 3.8% above the market average of 3.20%.
Earnbase rates the yield sustainability of USDT Prime V2 at 59/100, classified as "Moderate". Yield is 34.0% above the monthly average.
Over the past 7 days, USDT Prime V2 has shown a stable yield trajectory. The average APY moved from 2.81% to 2.75%.
USDT Prime V2 has a yield volatility rating of "Moderate" (standard deviation: 0.63pp over 7 days). The APY has ranged from 2.51% to 4.46% in the tracked period, with an average of 2.98%.
Liquidity & TVL
USDT Prime V2 currently has a total value locked (TVL) of $503.0K in USDT deposits.
USDT Prime V2 holds $503.0K in USDT deposits. Across all 26 tracked USDT strategies, deposits range widely depending on the protocol and curator reputation. This vault's TVL of $503.0K places it within the broader spectrum of USDT opportunities tracked on Earnbase.
By total value locked, USDT Prime V2 ranks #1 of 2 USDT strategies on Ethereum. It currently holds $503.0K.
USDT Prime V2's TVL is currently relatively stable. Over the past 7 days, TVL moved from $502.4K to $502.9K, a +0.1% change. The 30-day high was $503.0K and the 30-day low was $502.4K.
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 V2 had 5 days of inflows and 1 days of outflows. The largest single-day inflow was +$397 (Apr 03, 2026) and the largest outflow was -$53 (Apr 02, 2026). Net 30-day TVL change: +0.1%.
Strategy & Access
USDT Prime V2 operates on the Ethereum network and is managed by Morpho. It accepts USDT deposits. The strategy is curated by kpk.
To deposit into USDT Prime V2, you need USDT tokens on the Ethereum network. Visit the Morpho platform directly to connect your wallet and make a deposit.
Yes, USDT Prime V2 offers the highest USDT yield on Ethereum at 3.33% APY.
USDT Prime 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 USDT Prime 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 3.33% 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.
Deposit Asset