Yearn USDC
Yearn USDC vault lends its underlying assets only to blue-chip markets. Optimization across markets is handled automatically and supply caps are set based on various factors and continuously monitored by the Yearn team as well.
What you are actually getting paid for, expressed as a share of net APY.
Interest paid by borrowers on Morpho Blue markets the vault supplies into.
Estimated boost from Morpho-side rewards programs and curator rebates active on these markets.
The honest version. Every structural failure mode this vault is exposed to, ranked by severity. If you want to know whether to invest, start here.
Cap-weighted utilization is 86.0%, leaving little idle buffer. Large same-day redemptions may queue behind active loan repayments.
Weighted LLTV across markets is 86.0%. Sharp collateral drawdowns can trigger cascading liquidations faster than vault parameters can be adjusted.
What this vault is actually exposed to — including dependencies that are not visible from the strategy name.
Every market the vault has supplied into, with current LTV, LLTV, oracle, and IRM. Idle balances are listed explicitly.
Modeled NAV impact under historical and hypothetical tail events. Each impact = − (shock magnitude) × (vault exposure) × (pass-through). Hover the calculator icon for the per-scenario formula.
Tail-case: a vulnerability surfaces in Morpho Blue that affects the vault's largest single market (95% of TVL). Modeled at 50% loss on that exposure; full vault is not assumed at risk since markets are isolated.
Curator routes into a market that develops bad debt or an oracle break. Worst single position is 95.0% of TVL; top-3 concentration is 100%. Modeled at 50% bad-debt recovery on the worst position.
March 2023 SVB episode: USDC traded as low as $0.88 before banking exposure was clarified. Mark-to-market loss on 100% of vault TVL (the loan asset is USDC).
100% of TVL is in markets running >85% utilization. Redemption requests on that slice queue until borrowers repay; remaining LPs absorb a small forced-exit discount.
On-chain contracts, control surface, and per-market parameters. The diligence checklist surface — every value here is what an allocator needs to copy into a memo before sizing a deposit.
Market parameters (6)
Oracle, IRM, and LLTV per Morpho Blue market the vault routes into. Click an address to inspect the contract on a block explorer.Curator and parameter changes detected by VaultScope's snapshot diff. Refreshed every 6 hours.
180 trailing days. APY, TVL, utilization, and an APY drawdown view to show how the vault has actually behaved — not just where it sits today.