Uniswap has rolled out a new feature called 'Earn' that lets users generate yield on three major cryptocurrencies directly inside its app. The feature, which went live recently, supports USDC, USDT, and ETH. It's powered by lending technology from Morpho, a decentralized finance protocol.
Yield on three tokens
The 'Earn' feature is straightforward: users deposit USDC, USDT, or ETH into a pool within the Uniswap interface. In return, they receive yield generated by lending those assets through Morpho's infrastructure. The exact rates aren't disclosed in the announcement, but the yield comes from borrowers on Morpho's platform.
Uniswap says the feature is designed to be simple. There's no need to navigate external sites or manage complex strategies. Users just pick a token, deposit, and start earning. The yield accrues in real time and can be withdrawn at any time.
Powered by Morpho
Morpho is a lending protocol that optimizes rates by matching lenders and borrowers directly, rather than relying on a traditional pool model. By integrating Morpho's technology, Uniswap can offer competitive yields without building its own lending engine from scratch. The partnership means Uniswap users get access to Morpho's liquidity and rate optimization.
Morpho's system uses a peer-to-peer layer on top of existing lending pools, which can improve capital efficiency. For Uniswap, this integration is a way to add a new revenue stream for token holders without adding complexity to the core swapping experience.
Direct access in the app
Uniswap's 'Earn' is available directly within the Uniswap app, both on web and mobile. Users don't need to connect to a separate dApp or manage multiple wallets. The feature appears as a new tab or option in the interface, alongside swapping and providing liquidity.
This move positions Uniswap as more than just a decentralized exchange. By adding yield generation, the platform competes with other DeFi apps that offer lending and borrowing. It also gives UNI token holders another reason to keep their assets within the Uniswap ecosystem.
The feature is live now. Uniswap hasn't said whether it will expand to other tokens or chains, but the integration with Morpho leaves that possibility open. For now, users can start earning on USDC, USDT, and ETH with a few clicks.
