The interest rate (APY) in Savings Vaults is variable and depends on market conditions and vault activity.
You’ll always see the current rate directly in the app before depositing.
Each vault’s APY is divided into native rewards and extra tokens (like MORPHO, WELL, SEAM), which are reinvested weekly.
Example (USDC vault):
Native APY: 6.47%
MORPHO: 0.90%
SEAM: 0.82%
Performance fee: -0.97%
Rewards are distributed weekly. When they’re swapped for the vault’s token, their value can vary depending on token prices, market volatility, and liquidity conditions. Because of this, the actual return might slightly differ from the APY displayed in the app.
Why the difference from Morpho’s website?
Morpho shows the real-time APY based on the current token prices at that moment.
The Deblock app displays a projected APY, which reflects an average rate over time and accounts for potential price fluctuations before the next reward swap.