Unified Labs Prime USDC on Ethereum
V2A Morpho V2 vault on Ethereum that lends out USDC deposits, curated by Unified Labs. Depositors earn 4.37% a year right now after a 0% performance fee.
Data from Morpho's API · updated
Net APY
4.37%
after fees, paid to depositors
30-day APY
4.86%
7-day 5.33%, from the share price
Deposits
$2.00
2.03 USDC
Withdrawable now
$2.00
100% of deposits
Performance fee
0%
of the interest earned
Depositors
2
largest holds 50.0%
Unified Labs Prime 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 |
|---|---|---|
| cbBTC / USDCLLTV 86% | $2.00 | 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
| cbBTC | 100.0% |
|---|
Returns over time
Net APY actually earned over each period, from the share price: after fees, without token rewards
| Last day | 4.51% |
|---|---|
| Last 7 days | 5.33% |
| Last 30 days | 4.86% |
| Last 90 days | 4.24% |
Who controls this vault
| Curator | Unified Labs |
|---|---|
| Owner | 0x75B3…23733-of-5 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 | May 17, 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 | 4.37% |
| Vault contract | 0x3985…4117 |
| USDC token | 0xA0b8…eB48 |
| Network | Ethereum |
The curator's description: "Unified Labs Prime Instant vault is designed to generate competitive USDC yield by allocating across curated lending markets backed by blue-chip crypto and real-world asset RWA collateral adapting exposure to prevailing market conditions."
Largest depositors
2 addresses hold shares in this vault
| Address | Deposit | Share of vault |
|---|---|---|
| 0x0000…dEaD | $1.00 | 50.0% |
| 0xA967…a799 | $1.00 | 50.0% |
When a few addresses hold most of a vault, one large withdrawal can use up the liquidity that is free right now.
About Unified Labs Prime USDC
Unified Labs Prime USDC is a Morpho V2 vault on Ethereum, created on May 17, 2026. It takes USDC deposits and lends them to borrowers in 1 Morpho market. The curator, Unified Labs, decides which markets it may use and how much can go into each.
It holds $2.00 (2.03 USDC) from 2 depositors and pays a net APY of 4.37% after its 0% performance fee. Over the last 30 days depositors actually earned 4.86% a year.
Its largest position is cbBTC / USDC at 100% of its deposits. Counting every market, its loans are backed mainly by cbBTC (100%). 100% 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-5 multisig wallet. Morpho's app shows no warnings for this vault.
Unified Labs Prime USDC: quick answers
What is the APY of Unified Labs Prime USDC on Ethereum?
Unified Labs Prime USDC pays 4.37% net APY right now, after its fees. Measured from the growth of its share price, it paid 4.86% over the last 30 days. The rate changes every day with what its borrowers pay.
What does Unified Labs Prime USDC lend against?
It lends USDC through 1 Morpho market. The biggest is cbBTC / USDC with 100% of its deposits. Overall its loans are backed mainly by cbBTC (100%).
Can I withdraw from Unified Labs Prime USDC right now?
Yes: all of its $2.00 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 Unified Labs Prime USDC and what does it charge?
Unified Labs 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 Unified Labs Prime 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 3 days. This is not advice.
Other USDC vaults
The same deposit asset, other curators and networks
