Research

SPARKUSDTBC (Morpho Blue)

Morpho Blue · Ethereum · Lending

Obs · 29m ago

Total APY

2.25%

TVL

$86.1M

Observed risk

Moderate

Rate

Base: 2.25%
Incentive: 0.0%
Fee: n/a
Total: 2.25%

Base 2.2480% · Incentive 0.0000%

Liquidity

TVL: $86,091,502
7D change: -47.8%
30D change: +8923.5%

TVL has fallen 48% over the last 7 days where reported.

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: 2.25%
7D median: 2.25%
30D median: 2.25%
30D range: 2.25% to 7.21%
30D trend: -0.0%

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.

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.
TVL declined sharply over the last 7 days.

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.
TVL declined sharply over the last 7 days.

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.