USDC Earn Vault
Learn how to deposit USDC, earn yield automatically, and withdraw anytime with no lockup. This guide covers how the USDC Vault works, fees, and risks
Earn Yield on USDC with Marinade
Marinade now lets you put your USDC to work. The USDC Vault is a lending strategy built on Kamino that delivers risk-adjusted yield on your stablecoins: no lockup required and no need to leave the Marinade app.
What Is USDC Earn?
USDC Earn is a yield-generating vault powered by Kamino's on-chain lending markets. When you deposit USDC, your funds are supplied to liquid lending pools where borrowers pay interest. The vault manager (RockawayX) continuously reallocates capital across lending pools to optimize for steady, risk-adjusted returns.
Vault highlights:
Current APY: ~5.66% (variable, updates in real time)
Withdrawals: Instant, no lockup period
Vault manager: RockawayX
Audited and verified
How It Works
Deposit USDC: You deposit USDC into the Marinade vault.
Supplied to Kamino: Your USDC is supplied to Kamino's on-chain lending markets through smart contracts.
Rewards are generated: Borrowers post collateral and pay interest. Yield is generated from lending demand and market utilization. APY fluctuates based on market conditions.
Strategy is actively managed: RockawayX, the external vault manager, reallocates capital across lending pools in response to market conditions to maintain consistent yield.
Earn automatically: Vault interest accrues continuously in USDC with no action required. Any additional incentive rewards will appear as pending and must be claimed manually.
How to Deposit USDC
Step 1: Visit the Marinade App
Go to app.marinade.finance and connect your wallet.
Step 2: Navigate to USDC Earn
From the main menu, select Earn, then choose USDC from the available strategies.
Step 3: Enter Your Deposit Amount
Enter the amount of USDC you want to deposit.
Minimum deposit: 0.01 USDC
⚠️ Note: Make sure to keep a small amount of SOL in your wallet to cover transaction fees.
Step 4: Confirm the Transaction
Click Stake, then approve the transaction in your wallet. Your USDC will begin earning yield immediately.
Step 5: Monitor Your Position
Once deposited, you can view your position under My Positions in the Earn section. Vault interest accrues automatically and is reflected in your growing USDC balance.
If any incentive rewards are available, they will appear as pending and can be claimed from the same page.
How to Withdraw
Withdrawals are instant. There is no cooldown or unbonding period.
Go to Earn > USDC in the Marinade app.
Click Unstake.
Enter the amount you wish to withdraw.
Approve the transaction in your wallet. Funds are returned to your wallet immediately.
How Rewards Work
Yield is generated from the interest paid by borrowers in Kamino's lending markets. The APY you see reflects the current annualized rate based on real-time lending demand and market utilization.
There are two types of rewards:
Vault interest: Accrues automatically to your USDC balance as interest compounds. No claiming required.
Incentive rewards: Additional rewards that may be available on top of vault interest. These appear as pending in the Earn page and must be claimed manually by the user.
APY is variable. The rate fluctuates based on borrowing demand and pool utilization. It is not fixed or guaranteed.
Fees
Marinade does not charge a deposit or withdrawal fee for USDC Earn.
Performance fee: A 5% fee is taken only on the net interest generated by your position.
For example, if your position generates $1,000 in interest and the performance fee is 5%, a $50 fee is taken and you keep $950. This fee is already reflected in the displayed net APY.
Risks and Disclaimers
USDC Earn is a non-custodial, on-chain vault. It is not a savings account and carries the following risks:
Strategy risk: Yield is variable and depends on lending demand, collateral conditions, and the vault manager's allocation decisions. Returns are not guaranteed.
USDC depeg risk: USDC is designed to track 1 USD, but the peg is not guaranteed in extreme market conditions.
Smart contract risk: Funds are deployed through Kamino's smart contracts, which have been audited but may contain vulnerabilities.
Liquidity risk: Withdrawals rely on available liquidity in underlying lending markets and may be constrained during periods of high utilization.
This vault deploys capital on-chain and is not a bank deposit or savings account. Only deposit what you are comfortable with.
Last updated
Was this helpful?