Morpho Blue · Katana

YMVOG-VBUSDC

Overview

The Morpho Blue YMVOG-VBUSDC pool on Katana is a multi-asset lending position where suppliers earn variable interest on deposits of the YMVOG-VBUSDC token, which combines yield optimization with stablecoin exposure. The protocol generates yield by routing borrowing demand against pooled liquidity and distributing the resulting interest to lenders.

The total APY stands at 4.07%, composed of a base rate of 2.64% and an additional reward layer contributing 1.43%. Over the past week, the APY has increased by 0.17%, while over the last month it has decreased by 3.44%, placing the current yield below the 30-day mean of 5.50%.

TVL is at $7.5M with no reported change in the past seven days; primary exposure includes impermanent loss risk due to the multi-asset nature of the pool. This lending pool's utilization rate reflects typical levels for its asset and protocol category, ensuring a balanced distribution between lenders and borrowers.

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.

• Impermanent loss

  This pool holds multiple assets, so price divergence between them can reduce your USD value below what holding the assets separately would yield.

• Yield variability

  Current APY is 3.38%; 30-day mean is 5.72%. Yields can change as TVL and incentive emissions change.

• DefiLlama yield prediction

  DefiLlama's model classifies this pool's yield as "Stable/Up" with 84% confidence based on historical patterns.

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