Yearn OG USDC
A Morpho vault on Ethereum that lends out USDC deposits, curated by Yearn. Depositors earn 6.07% a year right now after a 5% performance fee.
Data from Morpho's API · updated
Net APY
6.07%
incl. 0.48% in rewards
30-day APY
6.49%
7-day 6.43%
Deposits
$10.56M
10.56M USDC
Withdrawable now
$7.75M
73% of deposits
Performance fee
5%
of the interest earned
Depositors
38
largest holds 71.8%
Yearn OG USDC 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 |
|---|---|---|
| OETH / USDCLLTV 86% | $3.33M | 31.5% |
| PT-USD3-17DEC2026 / USDCLLTV 86% | $2.50M | 23.7% |
| cbBTC / USDCLLTV 86% | $2.24M | 21.2% |
| USD3 / USDCLLTV 91.5% | $2.12M | 20.1% |
| LBTC / USDCLLTV 86% | $193K | 1.8% |
| YFI / USDCLLTV 77% | $158K | 1.5% |
| weETH / USDCLLTV 86% | $10.6K | 0.1% |
| WOUSD / USDCLLTV 91.5% | $6.9K | 0.1% |
| Idle cashnot lent out | $0 | 0.0% |
| siUSD / USDCLLTV 91.5% | $0 | 0.0% |
| stcUSD / USDCLLTV 91.5% · not listed in the Morpho app | $0 | 0.0% |
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
| OETH | 31.5% |
|---|---|
| PT-USD3-17DEC2026 | 23.7% |
| cbBTC | 21.2% |
| USD3 | 20.1% |
| LBTC | 1.8% |
| YFI | 1.5% |
| weETH | 0.1% |
| WOUSD | 0.1% |
| Other | 0.0% |
| siUSD | 0.0% |
Returns over time
Net APY actually earned over each period, from the share price
| Last day | 6.46% |
|---|---|
| Last 7 days | 6.43% |
| Last 30 days | 6.49% |
| Last year | 5.71% |
| Since the vault started | 6.20% |
Who controls this vault
| Curator | Yearn |
|---|---|
| Owner | 0xe5e2…89c04-of-7 multisig |
| Guardian | 0xFEB4…ff52 |
| Timelock | 3 dayswait before risky changes take effect |
| Allocators | 4addresses that move money between markets |
| Created | June 8, 2025 |
Timelocks give depositors time to leave before a change they dislike takes effect. Morpho risks explained.
Details
| Deposit asset | USDCprice $0.9999 |
|---|---|
| Vault version | MetaMorpho (V1) |
| APY before fees | 5.89% |
| Rewards | USDC 0.48% |
| Public allocator | Onborrowers can pull liquidity between this vault's markets |
| Vault contract | 0xF9bd…Ec49 |
| USDC token | 0xA0b8…eB48 |
| Network | Ethereum |
The curator's description: "Yearn OG vaults lend underlying assets to markets labeled as moderate risk (-2) by the Yearn team. Optimization across markets is handled automatically via an algorithm developed by Yearn. Supply caps are set based on various factors and continuously monitored by the Yearn team as well."
Largest depositors
38 addresses hold shares in this vault
| Address | Deposit | Share of vault |
|---|---|---|
| 0x0e29…e626 | $7.58M | 71.8% |
| 0x57D9…3c38 | $2.53M | 23.9% |
| 0x3192…3256 | $197K | 1.9% |
| 0x5632…E62f | $123K | 1.2% |
| 0x2253…87aa | $23.1K | 0.2% |
| 0x3BE1…9Df2 | $22.2K | 0.2% |
| 0xB434…7897 | $17.1K | 0.2% |
| 0x9145…2D58 | $11.6K | 0.1% |
| 0xf127…eDC8 | $9.8K | 0.1% |
| 0x0A1C…38AE | $9.0K | 0.1% |
When a few addresses hold most of a vault, one large withdrawal can use up the liquidity that is free right now.
About Yearn OG USDC
Yearn OG USDC is a MetaMorpho vault (Morpho V1) on Ethereum, created on June 8, 2025. It takes USDC deposits and lends them to borrowers in 8 Morpho markets. The curator, Yearn, decides which markets it may use and how much can go into each.
It holds $10.56M (10.56M USDC) from 38 depositors and pays a net APY of 6.07% after its 5% performance fee. Over the last 30 days depositors actually earned 6.49% a year, and 5.71% over the last year. About 0.48% of today's rate comes from USDC rewards, which can stop at any time.
Its largest position is OETH / USDC at 32% of what it lends, followed by PT-USD3-17DEC2026 / USDC (24%) and cbBTC / USDC (21%). Counting every market, its loans are backed mainly by OETH (32%), PT-USD3-17DEC2026 (24%) and cbBTC (21%). 73% of deposits could be withdrawn right now.
Risky changes, such as adding a market, wait behind a 3-day timelock, which gives depositors time to leave first. The owner is a 4-of-7 multisig wallet. Morpho's app shows no warnings for this vault.
Yearn OG USDC: quick answers
What is the APY of Yearn OG USDC on Ethereum?
Yearn OG USDC pays 6.07% net APY right now, after its fees and including 0.48% of rewards. Measured from the growth of its share price, it paid 6.49% over the last 30 days. The rate changes every day with what its borrowers pay.
What does Yearn OG USDC lend against?
It lends USDC through 8 Morpho markets. The biggest is OETH / USDC with 32% of its lending. Overall its loans are backed mainly by OETH (32%), PT-USD3-17DEC2026 (24%) and cbBTC (21%).
Can I withdraw from Yearn OG USDC right now?
About $7.75M of its $10.56M in deposits (73%) 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 Yearn OG USDC and what does it charge?
Yearn 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 Yearn OG 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. Changes to it wait behind a 3-day timelock. This is not advice.
Other USDC vaults
The same deposit asset, other curators and networks