PendleEcosystem High Yield USDC

Ethereum
The Pendle Ecosystem High Yield USDC vault is an official Pendle ecosystem vault. Assets are selected and approved by Pendle team. The vault allocates liquidity exclusively to select higher yield PT markets, providing deeper liquidity for the loopers.

Deposit USDC into the Pendle Ecosystem High Yield vault on Ethereum. Compare live net APY, TVL, liquidity, Pendle PT market allocations, performance, risk and vault activity.

Total Deposits
$18.53M
18.53M USDC
Liquidity
$13.57M
13.58M USDC
Exposure
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Net APY

Live Pendle USDC Vault Data

Real-time vault metrics are loaded from the public Morpho API for vault 0xcf609F8327E68b42AF54F9D529b9f65d68038435 on Ethereum.

Live API
Total deposits$18.02M18.03M USDC
Available liquidity$12.90MUSDC available
Net APY9.19%includes rewards
Vault share price1.001395USDC per share

Vault share price — 30 days

Net APY — 30 days

Updated — · Source: Morpho public API

Overview

Vault Configuration
Morpho vault version
v2
Vault deployment date
2026-10-06
Curator TVL
$141.61M
Total Deposits (USD)
$18.53M
Created with Highcharts 11.4.0 10 Oct11 Oct12 Oct13 Oct14 Oct15 Oct16 Oct $0$10M$20M
Net APY
8.26%
Created with Highcharts 11.4.0 10 Oct11 Oct12 Oct13 Oct14 Oct15 Oct16 Oct 0%2000%4000%
Avg 22.65%
APY Breakdown
Native APY
6.60%
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PENDLE
+1.66%
Net APY
8.26%

Live Pendle PT Market Allocation

Current USDC exposure is pulled from Morpho Vault V2 adapters and underlying Morpho markets.

Live allocation
MarketAllocationUSDCLiquidityAPY
Loading Morpho markets…————

Collateral

Loading…

Adapters

Loading…

Public Allocator

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Allocation

Exposure
Markets
Allocation (%)
Allocation (USDC)
Liquidity (USDC)
Underlying Liquidity (USDC)
Utilization
Absolute Cap
Relative Cap
APY
Variable Rate Markets
USDC backed by PT-reUSD-10DEC2026
91.5% LLTV
93.68%
17.36M
12.99M
12.99M
89.89%
Infinite
100%
7.58%
USDC backed by PT-USD3-17DEC2026
86% LLTV
3.48%
645.28k
58.25k
58.25k
90.97%
25M
100%
5.06%
USDC backed by PT-USDat-14JAN2027
91.5% LLTV
2.84%
526.88k
526.88k
815.04k
68.23%
25M
100%
3.25%
Idle Liquidity
0%
0
0
-
-
-
-
-
Allocation History
Created with Highcharts 11.4.0 7 Oct8 Oct9 Oct10 Oct11 Oct12 Oct13 Oct14 Oct15 Oct16 Oct 0.00 USDC5.00M USDC10.00M USDC15.00M USDC20.00M USDC25.00M USDC
Date
Caller
Amount
Vault / Market
Hash
2026-10-16 04:49:35
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+10,000 USDC+$9995.44
USDC backed by PT-reUSD-10DEC2026
91.5% LLTV
2026-10-16 04:43:11
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-8,000 USDC-$7996.35
USDC backed by PT-reUSD-10DEC2026
91.5% LLTV
2026-10-16 04:39:47
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-15.24 USDC-$15.23
USDC backed by PT-reUSD-10DEC2026
91.5% LLTV
2026-10-16 04:38:23
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+172,540.15 USDC+$172.46k
USDC backed by PT-reUSD-10DEC2026
91.5% LLTV
2026-10-16 04:37:35
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+213,820.06 USDC+$213.72k
USDC backed by PT-reUSD-10DEC2026
91.5% LLTV
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Pendle High Yield USDC Performance

Live net APY, native yield and PENDLE reward APR are refreshed from the Morpho API.

Live performance
Net APY9.19%6h average + rewards
Native APY7.53%excluding rewards
PENDLE reward APR1.66%live incentives
Performance fee10.00%Management fee 0%

Net APY history

Performance

Position Unit Price (USDC)
1.001397
+0.11%
Created with Highcharts 11.4.0 10 Oct11 Oct12 Oct13 Oct14 Oct15 Oct16 Oct 1 USDC1.0005 USDC1.001 USDC1.0015 USDC
Returns
Instant APY
8.26%
7D APY
6.19%
30D APY
-
90D APY
-
Fees
Performance fee
10%
Management fee
0%
Performance fee recipient
0xB83A77677c51aAf6c45b0b64199eAe6938559E5e
Management fee recipient
0xB83A77677c51aAf6c45b0b64199eAe6938559E5e

Vault Risk & Timelocks

Current Vault V2 governance timelocks and configuration from the Morpho API. Review smart-contract and market risks before depositing.

Live configuration
Loading timelocks…————

Risk

Risk Disclosures
Curator has not submitted a Disclosure.
Ratings
No ratings available for this vault.
Vault Roles
Owner
Safe logoSAFE 4/7
Curator
Safe logoSAFE 3/6
Sentinel 1
0x77fcF2c8BB9c6a0DA2D21F331E15Fd83A63E9Fbe
Risk Curation
Allocator 1
0x12F6e7646808aA948bA7a625Ef6E02f55efC684B
Allocator 2
0x73b40E49EB625e6B2EE8E41C8a5509F3e206a53b
Allocator 3
0xC007EB51E3d3285D192F43A35A7A5dAcC35A8D99
Allocator 4
Public Allocator
0x00b8e1509398ED692C3F326CbAf1694F9A881e27
Timelocks
These timelocks show how much time lenders have to review upcoming increases to vault exposure, including new adapters or higher limits for a vault's allocation strategy.
Add adapter
Time before a curator can enable a new adapter to the vault
7 days
Increase absolute cap
Time before a curator can raise the maximum amount supplied to an allocation
3 days
Recommended: 7 days
Increase relative cap
Time before a curator can raise the maximum share of the vault supplied to an allocation
3 days
Recommended: 7 days

Live Depositor Distribution

Largest indexed vault positions from the Morpho API.

Live positions
Loading depositors…————

Activity

User Distribution
User
Deposit
% of Deposits
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6,001,067.74 USDC$5.99M
32.36%
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1,000,967.98 USDC$1.00M
5.39%
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1,000,266.2 USDC$999.81k
5.39%
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1,000,151.95 USDC$999.69k
5.39%
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778,887.11 USDC$778.53k
4.20%
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All Transactions
Date
Type
Amount
User
Transaction
2026-10-16 04:49:35
Deposit
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10,000 USDC$9995.44
2026-10-16 04:43:11
Withdraw
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8,000 USDC$7996.35
2026-10-16 04:39:47
Withdraw
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15.24 USDC$15.23
2026-10-16 04:38:23
Deposit
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172,540.15 USDC$172.46k
2026-10-16 04:37:35
Deposit
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213,820.06 USDC$213.72k
2026-10-16 04:35:47
Deposit
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50,482.13 USDC$50.45k
2026-10-16 04:32:47
Deposit
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64,030.97 USDC$64.00k
2026-10-16 04:30:35
Deposit
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100,138.47 USDC$100.09k
2026-10-16 04:16:35
Deposit
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20,000 USDC$19.99k
2026-10-16 04:11:11
Deposit
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52,097 USDC$52.07k
1

Pendle Ecosystem High Yield USDC FAQ

Key information about depositing USDC, live APY and vault allocation on Morpho.

What is the Pendle Ecosystem High Yield USDC vault?

The vault is designed for USDC exposure across selected higher-yield Pendle PT markets. The live allocation section shows where the vault is currently deployed.

How do I deposit USDC into the Pendle High Yield vault?

Connect a compatible Ethereum wallet in the deposit panel, enter a USDC amount and review the onchain transaction before confirming.

Where does the vault allocate USDC?

Vault V2 allocates through adapters. This page reads the current adapter positions and Morpho market data from the public Morpho API and displays market, collateral, liquidity and allocation data.

Is the displayed APY fixed?

No. Vault APY changes with market rates, utilization, rewards and fees. The live metrics on this page refresh automatically.

What network is the vault on?

The Pendle Ecosystem High Yield USDC vault shown here is deployed on Ethereum and uses USDC as the underlying asset.

Deposit USDC
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$0
0.00 USDC
Network
Ethereum
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Deposit (USDC)
0.00
APY
8.26%
Projected monthly earnings
$0.00
Projected yearly earnings
$0.00