Research

SKYMONEYUSDTSAVINGS (Morpho Blue)

Morpho Blue · Ethereum · Lending

Obs · 24m ago

Total APY

3.39%

TVL

$59.3M

Observed risk

Moderate

Rate

Base: 2.52%
Incentive: 0.87%
Fee: n/a
Total: 3.39%

Base 2.5159% · Incentive 0.8692%

26% of current APY comes from token incentives.

Reward assets: USDT

Liquidity

TVL: $59,333,290
7D change: -1.1%
30D change: +0.4%

Risk

Moderate observed risk·High evidence confidence

An emergency pause authority exists with broad scope.
Oracle appears to rely on a single manipulable source.

Risk methodology

Historical yield

Current: 3.39%
7D median: 3.29%
30D median: 3.59%
30D range: 3.16% to 5.27%
30D trend: -0.2%

Loading history

Loading 30-day APY history…

Where the yield comes from

The reported yield primarily comes from borrower interest paid into this lending market. Separately reported token incentives account for 0.87 percentage points of the current APY.

What can reduce the rate

Yield may fall if borrowing demand decreases or token incentives are reduced.

Risk detail

Yield.ly's risk assessment summarizes observable factors and data coverage. It is not an audit, credit rating, guarantee, or recommendation. Smart contracts, assets, protocols, custodians, and market conditions can fail in ways the model does not detect.

Watch

An emergency pause authority exists with broad scope.
Oracle appears to rely on a single manipulable source.

Strengths

Substantial persistent liquidity on record.
Predominantly base yield rather than token incentives.
Thirty-day observation history available.
Verified protocol and market identity.

Risk dimensions

Principal risks

An emergency pause authority exists with broad scope.
Oracle appears to rely on a single manipulable source.

Exposure

Exposure type: Single asset
Assets: USDT

User deposits USDT. Funds enter Morpho Blue on ethereum. Morpho Blue depends on Chainlink oracle. Contracts are upgradeable or governance-controlled. USDT introduces Tether Limited custodian exposure. Exit via withdrawal from lending market.

Exit conditions

Flexible withdrawal is typical for lending markets unless a lockup is reported.

Some product terms are currently incomplete.

Qualification notes

Meets Yield.ly's current requirements for default discovery where qualified. Learn how qualification works

Incentive-heavy yield
A large share of this rate comes from token incentives, which can change quickly and may depend on the reward token market value.

Data sources

Source observed: Oct 20, 2026, 8:02 AM UTC
Yield.ly refresh: Oct 20, 2026, 8:11 AM UTC
Data generated: Oct 20, 2026, 8:17 AM UTC

DefiLlama · total APY, base APY, reward APY, TVL
CoinGecko · token icon

How data works · Source registry · Report a data issue

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Share opportunity

3.3851% · Morpho Blue · Ethereum. Not investment advice.

morpho.org

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