Unified Labs Regulated USDC on Ethereum
V2A Morpho V2 vault on Ethereum that lends out USDC deposits, curated by Unified Labs. Depositors earn 171.83% a year right now after a 0% performance fee.
Data from Morpho's API · updated
Net APY
171.83%
after fees, paid to depositors
30-day APY
28.09%
7-day 148.78%, from the share price
Deposits
$1.00
1.05 USDC
Withdrawable now
$6.00
600% of deposits
Performance fee
0%
of the interest earned
Depositors
2
largest holds 612200.0%
Unified Labs Regulated 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 |
|---|---|---|
| GOLDX / USDCLLTV 62.5% · under $1,000, not tracked here | $3.6K | 58.4% |
| cbBTC / USDCLLTV 86% | $2.2K | 36.7% |
| Idle cashnot lent out | $300 | 4.9% |
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 | 167.45% |
|---|---|
| Last 7 days | 148.78% |
| Last 30 days | 28.09% |
| Last 90 days | 5.26% |
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 | 0can pull money back or cut caps in an emergency |
| Created | June 10, 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 | 171.83% |
| Vault contract | 0x9139…88cE |
| USDC token | 0xA0b8…eB48 |
| Network | Ethereum |
The curator's description: "The Unified Labs Regulated USDC vault aims to optimize yields by lending USDC against permissioned and compliant RWA collateral. Compliance-first institutional RWA."
Largest depositors
2 addresses hold shares in this vault
| Address | Deposit | Share of vault |
|---|---|---|
| 0x17f3…e991 | $6.1K | 612200.0% |
| 0x0000…dEaD | $1.00 | 100.0% |
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 Regulated USDC
Unified Labs Regulated USDC is a Morpho V2 vault on Ethereum, created on June 10, 2026. It takes USDC deposits and lends them to borrowers in 2 Morpho markets. The curator, Unified Labs, decides which markets it may use and how much can go into each.
It holds $1.00 (1.05 USDC) from 2 depositors and pays a net APY of 171.83% after its 0% performance fee. Over the last 30 days depositors actually earned 28.09% a year.
Its largest position is GOLDX / USDC at 58% of its deposits, followed by cbBTC / USDC (37%). 5% sits idle, not lent out. Counting every market, its loans are backed mainly by cbBTC (100%). 600% 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 Regulated USDC: quick answers
What is the APY of Unified Labs Regulated USDC on Ethereum?
Unified Labs Regulated USDC pays 171.83% net APY right now, after its fees. Measured from the growth of its share price, it paid 28.09% over the last 30 days. The rate changes every day with what its borrowers pay.
What does Unified Labs Regulated USDC lend against?
It lends USDC through 2 Morpho markets. The biggest is GOLDX / USDC with 58% of its deposits. 5% sits idle. Overall its loans are backed mainly by cbBTC (100%).
Can I withdraw from Unified Labs Regulated USDC right now?
Yes: all of its $1.00 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 Regulated 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 Regulated 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
