Figure USDC MainV2
A Morpho V2 vault on Ethereum that lends out USDC deposits, curated by RockawayX. Depositors earn 4.64% a year right now after a 0% performance fee.
Data from Morpho's API · updated
Net APY
4.64%
after fees, paid to depositors
30-day APY
4.56%
7-day 4.43%
Deposits
$11.00
11.34 USDC
Withdrawable now
$11.00
100% of deposits
Performance fee
0%
of the interest earned
Depositors
5
largest holds 90.9%
Figure USDC Main APY history
Net APY earned each day, measured from the vault's share price
| Day | Deposits | Net APY |
|---|
Deposits over time
Where the money goes
The markets this vault lends to right now, largest first
| Market | Lent | Share |
|---|---|---|
| PRIME / USDCLLTV 86% | $11.00 | 100.0% |
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
| PRIME | 100.0% |
|---|---|
| WBTC | 0.0% |
| wstETH | 0.0% |
| cbBTC | 0.0% |
Returns over time
Net APY actually earned over each period, from the share price
| Last day | 4.65% |
|---|---|
| Last 7 days | 4.43% |
| Last 30 days | 4.56% |
| Since the vault started | 4.58% |
Who controls this vault
| Curator | RockawayX |
|---|---|
| Owner | 0xbBac…f9184-of-8 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 | 3 days |
| Allocators | 4addresses that move money between markets |
| Sentinels | 1can pull money back or cut caps in an emergency |
| Pending changes | 2IncreaseTimelock from July 31, 2026; IncreaseTimelock from July 31, 2026 |
| Created | May 15, 2026 |
Timelocks give depositors time to leave before a change they dislike takes effect. Morpho risks explained.
Details
| Deposit asset | USDCprice $0.9999 |
|---|---|
| Vault version | Morpho Vault V2 |
| APY before fees | 4.64% |
| Vault contract | 0xd65d…0097 |
| USDC token | 0xA0b8…eB48 |
| Network | Ethereum |
The curator's description: "The Figure USDC Main vault allows lenders to deploy USDC with exclusive exposure to Real World Assets RWA tokenized and issued by Figure"
Largest depositors
5 addresses hold shares in this vault
| Address | Deposit | Share of vault |
|---|---|---|
| 0x5b8A…e78D | $10.00 | 90.9% |
| 0x0000…dEaD | $1.00 | 9.1% |
| 0x0000…8A90 | $0 | 0.0% |
| 0x1121…0a11 | $0 | 0.0% |
| 0xf200…b96B | $0 | 0.0% |
When a few addresses hold most of a vault, one large withdrawal can use up the liquidity that is free right now.
About Figure USDC Main
Figure USDC Main is a Morpho V2 vault on Ethereum, created on May 15, 2026. It takes USDC deposits and lends them to borrowers in 1 Morpho market. The curator, RockawayX, decides which markets it may use and how much can go into each.
It holds $11.00 (11.34 USDC) from 5 depositors and pays a net APY of 4.64% after its 0% performance fee. Over the last 30 days depositors actually earned 4.56% a year.
Its largest position is PRIME / USDC at 100% of what it lends. Counting every market, its loans are backed mainly by PRIME (100%). 100% of deposits could be withdrawn right now.
Risky changes, such as adding a market, wait behind a 3-day timelock on raising caps, which gives depositors time to leave first. The owner is a 4-of-8 multisig wallet. Morpho's app shows no warnings for this vault.
Figure USDC Main: quick answers
What is the APY of Figure USDC Main on Ethereum?
Figure USDC Main pays 4.64% net APY right now, after its fees. Measured from the growth of its share price, it paid 4.56% over the last 30 days. The rate changes every day with what its borrowers pay.
What does Figure USDC Main lend against?
It lends USDC through 1 Morpho market. The biggest is PRIME / USDC with 100% of its lending. Overall its loans are backed mainly by PRIME (100%).
Can I withdraw from Figure USDC Main right now?
Yes: all of its $11.00 in deposits could be withdrawn immediately, because the markets it lends to have enough unborrowed USDC left. That can change quickly when borrowing picks up.
Who runs Figure USDC Main and what does it charge?
RockawayX curates it. It keeps 0% of the interest earned as a performance fee. The net APY shown is after these fees.
What are the risks of Figure USDC Main?
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. Changes to it wait behind a 3-day timelock on raising caps. This is not advice.
Other USDC vaults
The same deposit asset, other curators and networks