Uniswap Unveils 'Earn' for Idle Crypto Assets, Collaborating with Morpho

Uniswap has launched 'Earn', a new product that allows users to earn yield on idle crypto assets. Built in collaboration with Morpho, the second-largest decentralized lending protocol, Earn lets users deposit USDC, USDT, and ether into three Gauntlet-curated Morpho vaults.

The interest paid by borrowers becomes the yield earned by depositors, who retain custody of their assets and can withdraw them at any time. Uniswap's staff product manager Anthony Beshay said 'Earn is a natural next step' for the platform, providing users with a simple way to put their assets to work without managing concentrated liquidity positions.

The launch comes shortly after SEC Commissioner Hester Peirce commented on crypto vaults and onchain lending strategies, stating they may already fall within existing federal securities laws depending on how they are structured. Uniswap spokesperson declined to comment on the revenue benefits of Morpho integration.