As of November 2026, EarnPark lists up to 15% on USDT, up to 10% on USDC, and up to 15% on ETH, compared to Morpho's top vault at ~6.9% net on USDC and Aave's ~4.8% on Ethereum mainnet. The April 2026 KelpDAO $292M exploit triggered $10B in Aave outflows, illustrating the systemic contagion risk of on-chain lending.
EarnPark Yield Trust Score: Three-Way
| Dimension (20 pts) | EarnPark | Aave V3 | Morpho Blue / MetaMorpho |
|---|---|---|---|
| Regulatory standing | 17 — UK-registered LLP OC442773 (a company registration, not a licence) | 8 — Unregulated DAO | 7 — Unregulated; Morpho Labs (France) |
| Asset security | 16 — Self-attested PoR; exchange and strategy risk | 16 — Most-audited DeFi; $2.8B Safety Module | 14 — Immutable base; curator quality varies |
| Yield transparency | 16 — CeDeFi; rates vary by strategy | 20 — Fully on-chain utilisation-based | 17 — Per-vault APY visible; curator disclosed |
| Fee clarity | 17 — Spread; no gas | 15 — Reserve factor 10–20%; gas required | 13 — Curator performance fee 5–15%; gas |
| Track record | 14 — UK-registered; self-attested Proof of Reserves | 8 — Best-tested DeFi; KelpDAO contagion Apr 2026 | 12 — Growing; no direct exploit; KelpDAO indirect |
EarnPark YTS: 80/100 | Aave YTS: 67/100 | Morpho YTS: 63/100
Stablecoin APY: Current Rates (May 2026)
| Platform / Product | USDT APY | USDC APY | Gas Required |
|---|---|---|---|
| EarnPark (USDT) | Up to 15% (Nov 2026) | Up to 10% (Nov 2026) | ❌ None |
| Morpho — Re7 USDC vault | N/A | ~8.1% gross → ~6.9% net (15% perf. fee) | ✅ $10–$40 L1 |
| Morpho — Steakhouse USDC vault | N/A | ~6.5% gross → ~5.9% net (10% perf. fee) | ✅ $10–$40 L1 |
| Aave V3 USDC (Ethereum, ~65% util.) | N/A | ~4.8% | ✅ $8–$50 L1 |
| Aave V3 USDC (Base L2) | N/A | ~5.2% | ✅ $0.05–$1 L2 |
ETH Yield: Current Rates (May 2026)
| Platform | ETH APY | Notes |
|---|---|---|
| EarnPark | Up to 15% | Native ETH; no gas; UK-registered |
| Morpho — Gauntlet ETH Core | ~3.8% net (WETH) | WETH; L1 gas; curator risk |
| Aave V3 ETH (Ethereum, ~45% util.) | ~1.8% | WETH supply; low utilisation |
| Aave V3 ETH (Base) | ~2.5% | Higher utilisation on L2 |
April 2026 KelpDAO Contagion: Impact Table
| Protocol | Impact | Direct / Indirect |
|---|---|---|
| KelpDAO | $292M stolen; rsETH crashed | Direct exploit |
| Aave V3 | $10B emergency outflows | Indirect contagion |
| Morpho (rsETH markets) | Forced liquidations; collateral stress | Indirect contagion |
| Morpho (Steakhouse/Gauntlet USDC) | Minimal — no rsETH exposure | Market volatility only |
Who Each Platform Is Best For
| Profile | Best Choice |
|---|---|
| Max USDT yield, no DeFi | EarnPark — up to 15% USDT (Nov 2026); UK-registered |
| Max USDC yield, DeFi-native | Morpho Re7 (~6.9% net) or EarnPark USDC (up to 10%, no gas) |
| Max ETH yield | EarnPark — up to 15% vs Aave 1.8–2.5% |
| DeFi-native, on-chain transparency | Aave (Base L2) — low gas + 5.2% USDC |
Verdict
EarnPark lists higher rates on USDT (up to 15%) and ETH (up to 15% vs 1.8–3.8%) as of November 2026, though those top rates come from its Market-Exposed Alpha Vault strategies, which settle withdrawals monthly, and its Proof of Reserves is self-attested. Morpho's Re7 vault (~6.9% USDC net) is the best DeFi stablecoin option but requires curator evaluation, L1 gas, and carries the contagion risk demonstrated in April 2026. On USDC, EarnPark lists up to 10% from its Maker Core and DeFi strategies, though sophisticated DeFi users may still prefer conservative Morpho vaults for on-chain transparency.
USDT up to 15% | ETH up to 15% | USDC | Yield Calculator
Disclaimer: EarnPark rates sourced from earnpark.com asset pages as of November 2026. DeFi rates are approximate and utilisation-dependent. This does not constitute financial advice.