Api3 dCOMP USDC on Ethereum
V2A Morpho V2 vault on Ethereum that lends out USDC deposits, curated by Api3. Depositors earn 11.78% a year right now after a 5% performance fee.
Data from Morpho's API · updated
Net APY
11.78%
after fees, paid to depositors
30-day APY
16.21%
7-day 9.86%, from the share price
Deposits
$8.69M
8.69M USDC
Withdrawable now
$368
<0.01% of deposits
Performance fee
5%
of the interest earned
Depositors
285
largest holds 23.0%
Api3 dCOMP USDC APY history
Net APY earned each day, from the vault's share price: after fees, without token rewards
| Day | Deposits | Net APY |
|---|
Deposits over time
Where the money goes
The markets this vault lends to right now, largest first
| Market | Lent | Share |
|---|---|---|
| dCOMP / USDCLLTV 62.5% | $11.50M | 84.3% |
| wstETH / USDCLLTV 86% | $1.50M | 11.0% |
| cbBTC / USDCLLTV 86% | $645K | 4.7% |
The curator decides which markets the vault may use and how much it may put in each (the cap). Allocators then move money between those markets within the caps. How vaults work.
What the loans are backed by
Share of this vault's lending by the collateral borrowers put up
| dCOMP | 100.0% |
|---|
Returns over time
Net APY actually earned over each period, from the share price: after fees, without token rewards
| Last day | 9.38% |
|---|---|
| Last 7 days | 9.86% |
| Last 30 days | 16.21% |
| Last 90 days | 7.31% |
Who controls this vault
| Curator | Api3 |
|---|---|
| Owner | 0xBBE0…13DA3-of-5 multisig |
| Timelock to raise a cap | 7 dayswait before more can go into a market |
| Timelock to add an adapter | 7 dayswait before a new kind of investment |
| Timelock to raise fees | None |
| Allocators | 2addresses that move money between markets |
| Sentinels | 1can pull money back or cut caps in an emergency |
| Created | March 1, 2026 |
Timelocks give depositors time to leave before a change they dislike takes effect. Morpho risks explained.
Details
| Deposit asset | USDCprice $0.9997 |
|---|---|
| Vault version | Morpho Vault V2 |
| APY before fees | 12.43% |
| Vault contract | 0x36cf…2439 |
| USDC token | 0xA0b8…eB48 |
| Network | Ethereum |
The curator's description: "The dCOMP Vault lets USDC suppliers earn yield from a large COMP-holding borrower who posts dCOMP as collateral. dCOMP is a wrapper around COMP that preserves on-chain voting power allowing the borrower to access stablecoin liquidity without giving up their voice in Compound governance. Yields are elevated relative to blue-chip vaults reflecting concentrated single-borrower exposure and COMPs collateral profile. Api3 has committed significant capital of its own into the vault aligning incentives directly with other depositors."
Largest depositors
285 addresses hold shares in this vault
| Address | Deposit | Share of vault |
|---|---|---|
| 0xb459…FF10 | $2.00M | 23.0% |
| 0x485c…6180 | $1.51M | 17.3% |
| 0x8e03…8b24 | $662K | 7.6% |
| 0xFD4b…E81b | $619K | 7.1% |
| 0x6fF3…6e54 | $572K | 6.6% |
| 0x9470…5430 | $509K | 5.9% |
| 0x3A58…1400 | $413K | 4.8% |
| 0x108c…E922 | $401K | 4.6% |
| 0x1C0D…6C52 | $381K | 4.4% |
| 0x08d4…0040 | $361K | 4.1% |
When a few addresses hold most of a vault, one large withdrawal can use up the liquidity that is free right now.
About Api3 dCOMP USDC
Api3 dCOMP USDC is a Morpho V2 vault on Ethereum, created on March 1, 2026. It takes USDC deposits and lends them to borrowers in 3 Morpho markets. The curator, Api3, decides which markets it may use and how much can go into each.
It holds $8.69M (8.69M USDC) from 285 depositors and pays a net APY of 11.78% after its 5% performance fee. Over the last 30 days depositors actually earned 16.21% a year.
Its largest position is dCOMP / USDC at 84% of its deposits, followed by wstETH / USDC (11%) and cbBTC / USDC (5%). Counting every market, its loans are backed mainly by dCOMP (100%). <0.01% of deposits could be withdrawn right now.
Adding a market or raising how much can go into one waits behind a timelock of 7 days, which gives depositors time to leave first. The owner is a 3-of-5 multisig wallet. Morpho's app shows no warnings for this vault.
Api3 dCOMP USDC: quick answers
What is the APY of Api3 dCOMP USDC on Ethereum?
Api3 dCOMP USDC pays 11.78% net APY right now, after its fees. Measured from the growth of its share price, it paid 16.21% over the last 30 days. The rate changes every day with what its borrowers pay.
What does Api3 dCOMP USDC lend against?
It lends USDC through 3 Morpho markets. The biggest is dCOMP / USDC with 84% of its deposits. Overall its loans are backed mainly by dCOMP (100%).
Can I withdraw from Api3 dCOMP USDC right now?
About $368 of its $8.69M in deposits (<0.01%) could be withdrawn immediately. The rest is lent out and frees up as borrowers repay or as higher rates bring in new lenders.
Who runs Api3 dCOMP USDC and what does it charge?
Api3 curates it. It keeps 5% of the interest earned as a performance fee. The net APY shown is after these fees.
What are the risks of Api3 dCOMP USDC?
Like every Morpho vault, it can lose money if a borrower's collateral crashes faster than it can be liquidated, if a price oracle fails, or through a smart contract bug. Withdrawals can wait when its markets are fully borrowed. Adding a market or raising a cap waits behind a timelock of 7 days. This is not advice.
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