Unified Labs USDC RWA on Monad
V2A Morpho V2 vault on Monad that lends out USDC deposits, curated by Unified Labs. Depositors earn <0.01% a year right now after a 0% performance fee.
Data from Morpho's API · updated
Net APY
<0.01%
after fees, paid to depositors
30-day APY
3.23%
7-day 4.16%, from the share price
Deposits
$87.00
87.38 USDC
Withdrawable now
$10.00
11% of deposits
Performance fee
0%
of the interest earned
Depositors
8
largest holds 116174.7%
Unified Labs USDC RWA 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 |
|---|---|---|
| FUSDLP / USDCLLTV 96.5% · under $1,000, not tracked here | $186K | 96.0% |
| FUSDLP / USDCLLTV 91.5% · under $1,000, not tracked here | $7.8K | 4.0% |
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
| Small or unlisted markets | 100.0% |
|---|
Returns over time
Net APY actually earned over each period, from the share price: after fees, without token rewards
| Last day | <0.01% |
|---|---|
| Last 7 days | 4.16% |
| Last 30 days | 3.23% |
| Last 90 days | 2.94% |
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 | 3addresses that move money between markets |
| Sentinels | 0can pull money back or cut caps in an emergency |
| Pending changes | 2IncreaseAbsoluteCap from September 13, 2026; IncreaseAbsoluteCap from September 13, 2026 |
| Created | April 14, 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 | <0.01% |
| Vault contract | 0x0ED3…09FC |
| USDC token | 0x7547…b603 |
| Network | Monad |
The curator's description: "Institutional-grade RWA lending vault curated by Unified Labs, Asia's first Risk Curator focused on RWA lending on Morpho. Lending against professionally vetted, tokenized real-world asset collaterals with conservative risk parameters."
Largest depositors
8 addresses hold shares in this vault
| Address | Deposit | Share of vault |
|---|---|---|
| 0xDf2f…E38f | $101K | 116174.7% |
| 0x66a8…54EA | $92.6K | 106402.3% |
| 0xF03E…25D9 | $77.00 | 88.5% |
| 0x3FF3…48F8 | $9.00 | 10.3% |
| 0x0000…dEaD | $1.00 | 1.1% |
| 0x6bD2…6d95 | $0 | 0.0% |
| 0xBA39…b111 | $0 | 0.0% |
| 0x188d…Ea8e | $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 Unified Labs USDC RWA
Unified Labs USDC RWA is a Morpho V2 vault on Monad, created on April 14, 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 $87.00 (87.38 USDC) from 8 depositors and pays a net APY of 0.01% after its 0% performance fee. Over the last 30 days depositors actually earned 3.23% a year.
Its largest position is FUSDLP / USDC at 96% of its deposits, followed by FUSDLP / USDC (4%). Counting every market, its loans are backed mainly by Small or unlisted markets (100%). 11% 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 USDC RWA: quick answers
What is the APY of Unified Labs USDC RWA on Monad?
Unified Labs USDC RWA pays 0.01% net APY right now, after its fees. Measured from the growth of its share price, it paid 3.23% over the last 30 days. The rate changes every day with what its borrowers pay.
What does Unified Labs USDC RWA lend against?
It lends USDC through 2 Morpho markets. The biggest is FUSDLP / USDC with 96% of its deposits. Overall its loans are backed mainly by Small or unlisted markets (100%).
Can I withdraw from Unified Labs USDC RWA right now?
About $10.00 of its $87.00 in deposits (11%) 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 Unified Labs USDC RWA 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 USDC RWA?
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
