# Earn > Supply assets to Morpho and Aave v3 vaults through Ozmium - where the yield actually comes from, how to read APY honestly, and the risks worth naming. Source: https://docs.ozmium.org/guides/earn/ Keywords: earn yield on base, morpho vaults base, aave v3 supply apy, erc-4626 vault deposit, defi lending risk Updated: 2026-07-27 --- Earning means supplying an asset to a lending market and collecting the interest borrowers pay. The yield is not manufactured by Ozmium; it comes from real borrowers paying real rates. ## Where the Yield Comes From Someone is borrowing your asset and posting collateral worth more than they borrowed. They pay interest. That interest, minus the protocol's share, is your yield. This matters because it sets the ceiling. If a vault advertises a rate far above what borrowers plausibly pay, the extra is coming from somewhere else - token emissions, a subsidy, or a risk you have not priced. Ask which. ## Supported Venues | Venue | Model | What Ozmium Shows | |---|---|---| | Morpho | ERC-4626 Vaults, Curated | Every listed vault with live APY, not just ones you hold | | [Aave v3](https://aave.com/docs) | Pooled Supply Markets | Supply APY, utilization, and available liquidity | Ozmium lists the full set so you can compare before committing, rather than only surfacing positions you already have.
![The Ozmium vault list showing USDC vaults from Gauntlet, UltraYield, Yearn, Moonwell and Yield Clearstar with net APY, TVL, a 52-week APY range, and the vault contract address shown for verification.](/img/ozmium-morpho-usdc-vaults.webp "Net APY is shown against each vault's own 52-week range, so a headline rate can be read against its history.") ![Ozmium Earn view listing USDC vaults from Moonwell, UltraYield, Steakhouse, Gauntlet, and Yearn with live net APY and TVL.](/img/ozmium-earn-vault-apy.webp "The full list carries live net APY and TVL, and every vault contract address is shown before you deposit.")
{{protocols:morpho,aave}} ## Supplying 1. Choose a vault and review its live APY, its underlying asset, and its size. 2. Enter an amount. 3. Approve the token if this is the first supply from this wallet. Smart wallets batch this. 4. Sign. You receive vault shares (ERC-4626) or aTokens (Aave) representing your position. 5. Yield accrues to the position continuously. There is nothing to claim on a per-block basis. ## Withdrawing Withdrawal redeems your shares back to the underlying asset. Two things can delay it: - **Utilization.** If nearly all supplied assets are currently borrowed, available liquidity for withdrawal is low until borrowers repay or new supply arrives. Lending markets are supposed to do this, and it resolves as borrowers repay. - **Market conditions.** During volatility, utilization spikes. Plan around it rather than assuming instant exit. ## Reading APY Honestly - **APY is a snapshot of this moment.** It floats with utilization and can change block to block. - **The displayed figure is an estimate.** Ozmium shows what the protocol reports at read time. - **Higher yield is higher risk, always.** There is no exception to this in lending. A vault paying more is either taking more collateral risk, holding a thinner asset, or subsidising the rate. - **Compare net of everything.** Gas to enter and exit matters on small positions. ## Risks Worth Naming Supplying is lower risk than leverage, not zero risk: - **Smart-contract risk.** Every vault is code. Morpho and Aave publish independent third-party audits, which reduces this risk without eliminating it. - **Curator risk.** A Morpho vault is configured by a curator who chooses which markets it lends into. A misconfigured or aggressive curator changes the risk profile of your deposit. - **Bad debt.** If collateral falls faster than liquidators can act, a market can be left with debt it cannot recover. Suppliers absorb that. - **Oracle risk.** Bad price data can cause mispriced liquidations in either direction. - **No insurance.** This is not a bank deposit. It is not covered by the FDIC, SIPC, or any government program. ## FAQ {{direct}} ### Where does the yield in a lending vault come from? Borrowers post collateral worth more than they borrow and pay interest on the loan. That interest, minus the protocol's share, is your yield. There is no other source, which is why a rate far above what borrowers plausibly pay is a signal to ask what else is going on. ### Can I withdraw from a vault at any time? Usually, but not always instantly. If nearly all supplied assets are currently borrowed, available withdrawal liquidity is low until borrowers repay or new supply arrives. This is normal lending market behavior rather than a failure. ### Is supplying to a vault safe? Supplying carries less risk than leverage, and still carries plenty. Smart-contract failure, curator misconfiguration, bad debt, and oracle error all apply. It is not a bank deposit and is not insured by the FDIC, SIPC, or any government program. ### What is the difference between Morpho and Aave on Ozmium? Morpho vaults are ERC-4626 contracts configured by a curator who chooses which isolated markets the vault lends into. Aave v3 is a pooled supply market with protocol-level risk parameters. Ozmium lists both with live APY so you can compare them side by side. ### Does Ozmium take a cut of my yield? No. Ozmium is an interface. The yield you see is the protocol's own reported rate, and Ozmium takes no fee on deposits, withdrawals, or accrued interest. ## For Agents - `GET /v1/earn/vaults` - the Morpho and Aave vault list with live APY. - `POST /v1/tx/earn/deposit` and `/v1/tx/earn/withdraw` - ERC-4626 supply and redeem calldata. - `POST /v1/tx/earn/aave/supply` and `/v1/tx/earn/aave/withdraw` - Aave supply and withdraw calldata. See [Endpoint Catalog](/agents/endpoints/). ## Related - [Loan](/guides/borrow/) - the other side of the same market - [Liquidity](/guides/liquidity/) - fee income instead of interest income - [Security And Trust](/company/security/) - contract addresses and audit status