Clearstar USDC Core on Ethereum
V2A Morpho V2 vault on Ethereum that lends out USDC deposits, curated by Clearstar. Depositors earn 7.41% a year right now after a 10% performance fee.
Data from Morpho's API · updated
Net APY
7.41%
incl. 1.01% in rewards
30-day APY
6.93%
7-day 6.43%, from the share price
Deposits
$3.83M
3.83M USDC
Withdrawable now
$1.24M
32% of deposits
Performance fee
10%
of the interest earned
Depositors
129
largest holds 19.9%
Clearstar USDC Core 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 |
|---|---|---|
| mF-ONE / USDCLLTV 91.5% | $847K | 30.0% |
| PT-reUSD-10DEC2026 / USDCLLTV 91.5% | $846K | 30.0% |
| fxSAVE / USDCLLTV 91.5% | $706K | 25.0% |
| sUSN / USDCLLTV 86% | $238K | 8.4% |
| siUSD / USDCLLTV 91.5% | $112K | 4.0% |
| srRoyUSDC / USDCLLTV 91.5% | $36.0K | 1.3% |
| PT-fxSAVE-29OCT2026 / USDCLLTV 91.5% · under $1,000, not tracked here | $24.0K | 0.8% |
| fxSAVE / USDCLLTV 86% | $13.3K | 0.5% |
| reUSD / USDCLLTV 91.5% | $335 | 0.0% |
| PT-USDat-14JAN2027 / USDCLLTV 91.5% | $64.00 | <0.01% |
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
| PT-reUSD-10DEC2026 | 32.4% |
|---|---|
| mF-ONE | 30.0% |
| fxSAVE | 23.0% |
| sUSN | 6.1% |
| siUSD | 5.5% |
| OETH | 2.7% |
Returns over time
Net APY actually earned over each period, from the share price: after fees, without token rewards
| Last day | 6.08% |
|---|---|
| Last 7 days | 6.43% |
| Last 30 days | 6.93% |
| Last 90 days | 6.53% |
| Last year | 6.58% |
Who controls this vault
| Curator | Clearstar |
|---|---|
| Owner | 0xb3CF…2B443-of-6 multisig |
| Timelock to raise a cap | 3 dayswait before more can go into a market |
| Timelock to add an adapter | 3 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 | October 5, 2025 |
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 | 7.13% |
| Rewards | FXN 1.01% |
| Vault contract | 0x69A2…c284 |
| USDC token | 0xA0b8…eB48 |
| Network | Ethereum |
The curator's description: "The Clearstar USDC CORE vault dynamically allocates capital between the Clearstar Reactor USDC Morphov1 vault and fixed-rate lending opportunities to maximize depositors risk-adjusted returns. By combining flexible liquidity provisioning with predictable yield strategies it enhances capital efficiency while maintaining robust risk controls. The vault continuously routes funds to the most attractive opportunities within predefined risk parameters leveraging Hypernatives real-time monitoring to mitigate on-chain threats and preserve principal."
Largest depositors
129 addresses hold shares in this vault
| Address | Deposit | Share of vault |
|---|---|---|
| 0x732F…1e84 | $761K | 19.9% |
| 0x3A58…1400 | $313K | 8.2% |
| 0x108c…E922 | $300K | 7.8% |
| 0xEDb7…374B | $227K | 5.9% |
| 0x4C1A…9D0f | $187K | 4.9% |
| 0x2Aea…9845 | $111K | 2.9% |
| 0xb046…6DDc | $100K | 2.6% |
| 0x0F76…C916 | $68.3K | 1.8% |
| 0xC761…5d6a | $67.1K | 1.8% |
| 0xeF7d…9E55 | $65.9K | 1.7% |
When a few addresses hold most of a vault, one large withdrawal can use up the liquidity that is free right now.
About Clearstar USDC Core
Clearstar USDC Core is a Morpho V2 vault on Ethereum, created on October 5, 2025. It takes USDC deposits and lends them to borrowers in 10 Morpho markets. The curator, Clearstar, decides which markets it may use and how much can go into each.
It holds $3.83M (3.83M USDC) from 129 depositors and pays a net APY of 7.41% after its 10% performance fee. Over the last 30 days depositors actually earned 6.93% a year, and 6.58% over the last year. About 1.01% of today's rate comes from FXN rewards, which can stop at any time.
Its largest position is mF-ONE / USDC at 30% of its deposits, followed by PT-reUSD-10DEC2026 / USDC (30%) and fxSAVE / USDC (25%). Counting every market, its loans are backed mainly by PT-reUSD-10DEC2026 (32%), mF-ONE (30%) and fxSAVE (23%). 32% of deposits could be withdrawn right now.
Adding a market or raising how much can go into one waits behind a timelock of 3 days, which gives depositors time to leave first. The owner is a 3-of-6 multisig wallet. Morpho's app shows no warnings for this vault.
Clearstar USDC Core: quick answers
What is the APY of Clearstar USDC Core on Ethereum?
Clearstar USDC Core pays 7.41% net APY right now, after its fees and including 1.01% of rewards. Measured from the growth of its share price, it paid 6.93% over the last 30 days. The rate changes every day with what its borrowers pay.
What does Clearstar USDC Core lend against?
It lends USDC through 10 Morpho markets. The biggest is mF-ONE / USDC with 30% of its deposits. Overall its loans are backed mainly by PT-reUSD-10DEC2026 (32%), mF-ONE (30%) and fxSAVE (23%).
Can I withdraw from Clearstar USDC Core right now?
About $1.24M of its $3.83M in deposits (32%) 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 Clearstar USDC Core and what does it charge?
Clearstar curates it. It keeps 10% of the interest earned as a performance fee. The net APY shown is after these fees.
What are the risks of Clearstar USDC Core?
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 3 days. This is not advice.
Other USDC vaults
The same deposit asset, other curators and networks
