Pendle's high-yield USDC vault on Morpho tops $15M in a day
- —Vault deposits hit $15.76 million roughly a day after its October 14 launch
- —Net APY on USDC is 8.31%, including 1.76% in PENDLE rewards
- —About 98.6% of TVL ($15.54 million) is lent in the PT-reUSD market on Morpho
- —The vault runs on Ethereum and is co-curated by Pendle and Wintermute's Armitage
Why it matters: Surging demand for yield-bearing USDC strategies shows DeFi vaults with tokenized collateral are becoming an alternative to traditional stablecoin products.
Source: Crypto Briefing