Earn yield on USDC
Supply USDC and earn real yield paid by borrowers — backed by overcollateralized Bitcoin, not a company's promise. Non-custodial, no lockup, on HyperEVM.
APY is variable and not guaranteed. Yield depends on borrower demand. Smart-contract risk applies despite audits.
Supply, earn, withdraw
Your yield comes from the interest borrowers pay — Merum keeps a 10% protocol fee, and the rest accrues to suppliers.
Deposit USDC
Supply USDC to the market and start earning from day one. No lockups, no monthly fee.
Earn yield
Earn ~5–7% APY, paid by borrowers and backed by overcollateralized Bitcoin.
Withdraw anytime
Pull your USDC whenever you need it, subject to available liquidity.
How withdrawals work
No fixed terms, no lockups — but yield in a lending market is real money lent to real borrowers, so it's worth understanding the mechanics before you supply.
Withdraw anytime, subject to liquidity
There is no lockup and no fixed term. You can withdraw your USDC plus accrued interest whenever you want, as long as that liquidity isn't currently lent out to borrowers. In high-utilization periods, a portion may need to wait until loans are repaid — utilization is shown live in the app.
Non-custodial by design
Your USDC sits in audited smart contracts, not on a company balance sheet. Merum never takes custody of your funds and cannot rehypothecate them. You interact with the protocol directly on-chain — your position is yours to manage.
Share of supplied USDC currently lent out. Higher utilization means higher yield, but less idle liquidity to withdraw immediately.
How it compares
A rough comparison of where USDC and dollars can sit. The trade-off for higher yield is real risk — DeFi yield is not insured, and APY is variable.
| Option | Typical rate | Backed by | Access | Custody |
|---|---|---|---|---|
| Merum (supply USDC) | ~5–7% variable APY | Overcollateralized BTC loans | Withdraw anytime, subject to liquidity | Non-custodial |
| Typical bank savings | ~0.5% national average | Bank balance sheet (FDIC-insured to limits) | Withdraw anytime | Custodial |
| Coinbase USDC rewards | ~4% variable, set by issuer | USDC reserves program | Withdraw anytime | Custodial |
Illustrative figures for comparison only, as of 2026 and subject to change — not an offer, endorsement, or guarantee. Bank savings rates reflect the US national average and are FDIC-insured to applicable limits. Coinbase USDC rewards are set by the issuer and not affiliated with Merum. Merum yield is variable, uninsured, and carries smart-contract and liquidation risk; figures cited are not promised returns.
Put your USDC to work in an overcollateralized Bitcoin lending market. Non-custodial, no lockup — withdraw anytime, subject to available liquidity.