USDC Lending (Morpho)

Current APY

Current APY

3.9864%

Base APY

3.9864%

Fee APY

Not reported

Incentive APY

0.0000%

Liquidity

TVL

$73,255,004

7D change

-0.0%

30D change

-0.0%

TVL reflects observed liquidity, not safety.

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.

Observed risk

Moderate observed risk · High evidence confidence

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.

Risk methodology

Risk dimensions

• ProtocolModerate concern+
• GovernanceModerate concern+
• Oracle dependencyModerate concern+
• AssetModerate concern+
• LiquidityHigher concern+
• Rate durabilityModerate concern+
• ExposureModerate concern+
• Custody and counterpartyUnknown+
• Terms and redemptionUnknown+
• InterconnectionModerate concern+
• Data qualityModerate concern+

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

USDC

User deposits USDC. Funds enter Morpho on ethereum. Morpho depends on Chainlink oracle. Contracts are upgradeable or governance-controlled. USDC introduces Circle and banking partners custodian exposure. Exit via withdrawal from lending market.

Exit conditions

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

Data sources

Source observed

Aug 26, 2026, 6:10 AM UTC

Yield.ly refresh

Aug 26, 2026, 6:03 AM UTC

Snapshot generated

Aug 26, 2026, 6:17 AM UTC

• DefiLlama · total APY, base APY, reward APY, TVL

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