Where Yield Comes From

VOVO does not manufacture a fixed interest rate.

USDG deposited through the current Earn path enters an underlying Morpho Vault V2 strategy.

The vault allocates capital across underlying lending markets according to its configuration and curation policy. Borrowing demand and market conditions generate lending yield.

The rate can change

Allocation

The vault moves capital between different specific lending markets based on conditions.

Idle Liquidity

Capital that is not currently lent out does not generate yield.

Market Exposure

Borrowers pay interest based on demand. High demand increases rates; low demand lowers rates.

For these reasons, the current APY changes, and the historical average APY will differ from the current APY.

There are no yield guarantees.