Put your USDC to work through transparent onchain lending. Compare three products by variable yield and risk, and check onchain where your USDC is lent.
dyield tokens are yield-bearing vault receipt tokens, not stablecoins, not bank deposits, not insured.
Your yield is calculated by the second and stays invested, so it keeps building.
Today's variable rates
Variable net APY: the vault's current rate from Morpho's public data, after the vault curator's fee and dyield's fee. Network fees are not included. Variable rates. Figures are refreshed regularly and may reflect data from several minutes earlier. Returns are not guaranteed.
Each product puts your USDC into one lending vault on Morpho, run by a named professional firm. They are ordered by relative risk. A higher-risk product does not always earn more: rates move with demand to borrow USDC, so a lower-risk product can pay more on a given day. dyield presents; you decide.
Lends your USDC to borrowers who put up large, widely traded assets, such as Bitcoin and Ether, as collateral.
The lowest relative risk of the three.
Lends into a wider range of markets than Prime, run by the same firm.
A step up from Prime in risk, for access to more markets.
Lends into newer and more volatile markets. The vault's curator moves funds between them automatically, within set limits.
The highest relative risk of the three. That does not guarantee the highest rate.
Risk is relative to the other two dyield products. Getting your USDC back depends on the vault having USDC available. Who runs each vault, its backup and its contracts are listed under Check it yourself.
Rates retrieved by dyield at 05:07 UTC
Compare the three above. The app works the same way for each.
You get a dyield token back that grows in value as the vault earns. It stays in your own wallet.
Redeem the token for USDC plus what it earned. No lock-up; subject to the vault's available USDC.
At current rates
Figures are estimates based on the latest rates shown. Rates are variable, can change at any time, and are not a guarantee of future performance. For illustration only.
This calculator is for illustration purposes only and does not constitute financial advice or a projection of future results. Figures are calculated from the latest net APY of each product retrieved from Morpho's public API, which may reflect data from several minutes earlier. Those rates are variable, can change at any time, and are not a guarantee of future performance. Past performance is not indicative of future results. dyield tokens are yield-bearing vault receipt tokens, not stablecoins, not bank deposits, not insured. Do not make financial decisions based solely on this illustration.
Every contract, vault and allocation is public. Read them on BaseScan and Morpho; you do not need to take our word for any of it.
The backup vault is already approved and can take over if the main vault has a problem.
dyield is operated by LightVessel DAO LLC, a Wyoming DAO LLC with a public filing.
A performance fee on the yield your USDC earns, never on the USDC itself. If there is no yield, there is no fee. Each vault's curator may also charge its own fee. The net APY shown already has both taken out. The rate is set out in the Terms & Conditions.
There is no lock-up. You can redeem your dyield token for USDC in the app whenever you choose. The USDC comes from what the vault has available; if its USDC is fully lent out at that moment, part of a withdrawal may have to wait until borrowers repay or new USDC arrives.
dyield's settings are held by named accounts that anyone can look up on Base. Some changes must wait in public before they take effect; others take effect immediately, by the design of Morpho's contracts. Every change is recorded publicly on Base, and you can always check the current settings yourself.
Morpho is a lending protocol on Base whose vault contracts are open source and audited. Curators are independent firms that decide which lending markets a vault uses: Steakhouse Financial and Gauntlet run the vaults dyield uses today, and Clearstar Labs runs the backup vault for High and Ultra. dyield chooses the vaults; it does not direct the curators.
From Morpho's public data for each vault, with the curator's fee and dyield's fee already taken out. dyield retrieves it regularly, so a figure may reflect data from several minutes earlier. Network fees for your own transactions are not included. It is a recent rate, not a promise. It changes as demand to borrow USDC changes, and a higher-risk product does not always pay more.
No. dyield tokens are yield-bearing vault receipt tokens. They are not stablecoins, not bank deposits and not insured. Their value can fall if a vault suffers losses.
LightVessel DAO LLC, a Wyoming DAO LLC. Its filing is public and its name is on every page of this site.
dyield tokens are yield-bearing vault receipt tokens, not stablecoins, not bank deposits, not insured.