Ember Protocol · Ethereum

USDC (Pharos RealFi Ecosystem Vault)

Overview

The Ember Protocol USDC on Ethereum is a single-asset stablecoin pool where suppliers earn variable interest on USDC deposits through the Pharos RealFi Ecosystem Vault. The protocol generates yield by allocating pooled funds across various DeFi opportunities, aiming to optimize returns for depositors.

Total APY stands at 12.52%, with no additional reward component. Over the past week, this rate has declined by 13.0%, while there is no trend data available for the 30-day period. The current APY falls below the 30-day mean of 20.50%.

TVL currently stands at $43.6M with no reported change over the past week. Primary exposure here is depeg risk on the underlying stablecoin USDC, given that this is a single-asset pool. This type of pool benefits from deep liquidity and consistent demand for stablecoin deposits within the DeFi ecosystem.

Composed 2026-05-20 from the structured data above. See methodology for the full pipeline.

Risk profile

• Smart contract risk

  Funds are deposited into a smart contract. A bug or exploit in the contract could lead to total loss. Audits reduce, but do not eliminate, this risk. Check the protocol page for audit history.

• Depeg risk

  The pool is built on stablecoins. A depeg of any underlying asset would impact returns and principal.

• Yield variability

  Current APY is 12.90%; 30-day mean is 12.72%. Yields can change as TVL and incentive emissions change.

• DefiLlama yield prediction

  DefiLlama's model classifies this pool's yield as "Down" with 56% confidence based on historical patterns.

These notes are derived from the pool's structured data, not editorial advice. See our methodology.