Uniswap Enters Lending Space with Earn Feature
Uniswap Labs has launched Earn, a lending feature within its web app and wallet that allows users to deposit USDC, USDT, and ETH into Gauntlet-curated Morpho vaults on Ethereum mainnet. The three vaults behind the feature are $USDC Prime, $USDT Prime, and WETH Prime, which adhere to Gauntlet's Prime risk mandate.
The vaults offer overcollateralized lending against blue-chip collateral, with risk configuration, market allocation, and exposure limits set by Gauntlet's proprietary risk engine. Uniswap says it charges no fee of its own for the product, though standard network costs still apply.
Deposits are allocated across on-chain lending markets where borrowers pay interest to access funds, and interest flows back to depositors continuously. Rates float with borrowing demand, and exposure sits with the underlying lending markets and Gauntlet's allocation decisions rather than Uniswap's.