Base

🔴🦋🔵

Morpho's SuperFest campaign starts today! 

150,000 OP is now available to Morpho users on @Base.

Read on for more details.

Hmmm, it's a bit confusing. My understanding is that on Morpho, we provide liquidity to vault curators, not to vault directly? In this case, which of the following vault would be eligible for the OP token reward?

Earn, Borrow, Build on Morpho 
/morpho and app.morpho.org

Yeah exactly, you'll need to deposit in a vault that then supplies to the eligible markets.

You can see which vaults are earning OP rewards by hovering over Net APY, which will provide you a breakdown.

/monad ecosystem growth | ex telco.in & everwave.xyz founder | /music moderator | writing on web3 & culture https://paragraph.xyz/@alixkun.eth

Economic modeling for crypto. Research, optimization, and risk management for DEX, Lending, Perpetuals, (Re)staking, Stablecoins, and Ecosystems.


gauntlet.xyz

The native APY is a function of borrowing demand over time which has been higher on Ethereum in the past.

There are other USDC vaults on Base with a net APY higher than on Ethereum if that's what you're looking for.

Also, I was thinking about moving some of the allocations I have in the Gauntlet USDC core vault from Eth mainnet to Base, where this vault is subject to the OP token reward, but somehow the net APY is higher on Eth mainnet, despite the campaign! 🤷‍♂️ 
@gauntlet ?

Curators are incentivized to optimize the vaults yield, so in this case, it's expected they take full advantage of the OP rewards!

It's a bit of a shame though, because curators modify their allocations all the time, so it's hard to follow up if we're still having our money in vault that allocate USDC to an OP token incentivized pool 😩