YieldTruth · morpho-blue · Ethereum · as of 2026-07-01 05:18 UTC

▲ SHORT-VOL CARRY Grade C

Is the YOG-USDC-V2 yield on morpho-blue real?

You're being paid 9.11% to absorb price risk. Only ~5.76% of it is real fees (the other ~37% is decaying emissions) — and they stop covering impermanent loss if YOG-USDC-V2 diverges more than ±100%.

REAL 63%

EMISSIONS 37%

Real fee/staking yield: 5.76% · token emissions: 37% of the headline.

👜 Would you be better off just holding?

Break-even fact: a ±100% move in YOG-USDC-V2 erases a full year of the fees you actually keep (~5.76%). Whether that move happens is up to the market — but any emissions inflating the headline will fade regardless.

Headline APY

9.11%

Real yield (fees)

5.76%

TVL

$3.6M

Impermanent-loss risk

yes

▶ Open the live interactive verdict

Source: DefiLlama. Verdict is a heuristic over public data, not financial advice.

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