USDC Alpha Prime V2
About USDC Alpha Prime V2
USDC Alpha Prime V2 is an autocompounder on Ethereum with USDC as its underlying token, in which the yield is distributed. It earns yield from its underlying lending venue and automatically converts any claimed rewards into more USDC, removing the manual claim and conversion steps a user would otherwise need to perform on their own.
Rewards earned by the strategy (MORPHO) are periodically converted into USDC and added back to the vault. Autocompounding events run when economically feasible, anywhere from hourly to several days apart, with gas costs socialised across all holders rather than borne by each user individually.
Live since October 2025. Currently indexed at $6K TVL across 3 holders, with a 7.41% 24-hour APY and 10.63% across the trailing 30 days.
Performance Overview
Historical indexer data. Past onchain performance is not a predictive forecast.
Market benchmarking
USDC 40 Acres
Base11.17%$1.9M#2USDC LendBase9.70%$15K#3USDC Felix
HyperEVM7.78%$5#4USDC Base USDC Lending OptimizerBase7.73%$10#5USDC GauntletHyperEVM7.63%$5USDC Alpha Prime V2You are here
Ethereum7.41%$6KUSDC Compound V3Base6.70%$11#54USDC OpenEdenEthereum0.08%$51Among the 54 USDC strategies we currently monitor, this product ranks #6. Its 7.41% yield runs 16.7% higher than the cohort average of 6.35%. On a $1,000 position, that's ~$0.88 per month higher than the cohort average. This product sits in the top quarter of the cohort by APY. It currently holds $6K in TVL, ranking #15 of 54 by TVL.
Ecosystem context
On Ethereum, this product's yield runs 23.7% higher than the network average across the USDC strategies we monitor. By APY it ranks #1 of 16 in that set. Yields on Ethereum for USDC have averaged 5.99% in our index.
USDC on Ethereum#1 of 16See all 16 USDC strategies on EthereumCurrently the top-yielding USDC opportunity on Ethereum across the 16 products we monitor.
Yield trajectory
Historical indexer data. Past onchain performance is not a predictive forecast.
Strategy stability
Based on APY volatility over the last 30 days. Higher scores indicate steadier yields.
USDCThis strategy currently holds $6K, below our $50K liquidity mark. Thin liquidity can mean higher slippage on entry and exit, and the headline yield can be skewed by a small number of holders.
Long-term performance
- Share price has compounded at an annualized rate of 8.92% over 296 days, growing from 1.0000 to 1.0718. This represents a gain of ~0.072 USDC per 1 USDC supplied at launch.
- TVL experienced a 68% drawdown from its $16K peak, bottoming at $5K over 1 day. It currently stands at $6K, 35% of the peak value.
- Best performing month was February 2026 at 16.43% average APY; weakest was April 2026 at 3.19%. The spread between best and worst months represents ~$11 per $1,000 per month.
Historical statistics
Over the past 296 days, this vault's APY has moved from an early average of 5.25% to a recent average of 10.76%, a 105.0% increase. At the start of the window, $1,000 would have earned ~$4.37/mo at then-current rates; at recent rates, ~$8.97/mo.
Total value locked currently sits at $6K, which is 35% of its all-time peak of $16K reached on July 2026.
APY
| 30D Low | 6.81% |
|---|---|
| 30D High | 28.53% |
| 30D Average | 10.63% |
| Lifetime avg (296d) | 7.23% |
| Median APY | 9.99% |
| Best day | 28.53% · Jul 6 |
| Worst day | 6.81% · Jul 16 |
| Volatility | ±5.01% |
| APY range | 21.72pp |
TVL
| 30D Low | $5K |
|---|---|
| 30D High | $16K |
| 30D Average | $7K |
| Lifetime avg (296d) | $2K |
| Median TVL | $5K |
| Best day | $16K · Jul 26 |
| Worst day | $5K · Jun 30 |
| Current TVL | $6K |
| Largest daily change | $11K |
Historical Data
Download CSV| Date | APY |
|---|---|
| Jul 29, 2026 | 8.53% |
| Jul 28, 2026 | 8.53% |
| Jul 27, 2026 | 23.18% |
| Jul 26, 2026 | 23.18% |
| Jul 25, 2026 | 7.22% |
| Jul 24, 2026 | 7.22% |
| Jul 23, 2026 | 7.87% |
Strategy details
Frequently Asked Questions
What's the current APY for USDC Alpha Prime V2 on Ethereum?
USDC Alpha Prime V2 on Ethereum is showing a 24-hour APY of 7.41%, with a 30-day average of 10.63%. Rates are variable and move with market conditions, liquidity, and the underlying protocol's incentives. The figures reflect the realised yield over the trailing window; they are not a forward guarantee.
How does the autocompounding work?
The strategy holds positions in its underlying lending venue and periodically claims any rewards that accrue. Those rewards (MORPHO) are then converted into more USDC and added back to the vault, increasing the value of each holder's share. The process repeats automatically; holders are not required to claim, swap, or add anything back themselves. Autocompounding events run when economically feasible, anywhere from hourly to several days apart, with gas costs socialised across all holders.
Can I withdraw at any time?
There are no withdrawal periods or lockups. If the underlying strategy holds enough liquidity to satisfy the request, exits are instant. During periods of liquidity stress in the underlying venue, withdrawal capacity can be limited until liquidity returns. See the risk page for details on how this works.
Where does the yield come from?
Yield is sourced from its underlying lending venue. The income stream is a combination of interest paid by the underlying market and reward emissions in MORPHO, which the strategy claims and converts back into USDC on a recurring basis. The rate moves with the underlying venue's utilisation and incentive schedule.
How stable has the APY been?
Over the last 30 days, this vault's APY has ranged from 6.81% to 28.53%, averaging 10.63%, with measured volatility of ±5.01%. The Strategy stability section above shows where this falls on the scale from very volatile to very consistent.
How much is currently in the vault?
The vault currently holds $6K in TVL across 3 holders. The Historical statistics section above shows how this compares to the vault's 30-day range and lifetime peak.
What are the risks?
Like any onchain yield strategy, this vault is exposed to smart contract risk in both the Harvest contracts and its underlying lending venue, market risk in the underlying venue it routes to, and protocol-specific risks of the assets it interacts with. Harvest's core vault infrastructure was audited by Halborn in January 2025. Audits reduce but do not eliminate risk.
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Harvest is an onchain yield index. Performance data reflects historical onchain activity and is not a forecast. See the methodology, risk framework, terms, and disclosures for details on how data is calculated and the risks associated with onchain yield strategies.