Uniswap bolts lending onto the exchange with Earn
The largest DEX's front end now routes idle USDC, USDT and ether into Morpho vaults curated by Gauntlet, charging no Uniswap fee and keeping custody with the user.
Protocol
Morpho
Onchain lending infrastructure built around isolated markets and curated vaults, which supplies the lending layer other applications put their own front ends on, including Uniswap's Earn.
The profile
A lending protocol that separates the pieces most money markets keep together. Isolated markets each pair one collateral asset with one loan asset and fixed parameters, so a bad market cannot contaminate a good one; vaults sit above them and allocate depositor funds across markets according to a curator's mandate. The consequence is that Morpho supplies balance-sheet plumbing rather than a consumer product, and the relationship with the depositor belongs to whoever runs the interface. Uniswap's Earn, launched on 30 July 2026, is that arrangement at scale: Morpho provides the vault infrastructure and Gauntlet curates the risk parameters, while the deposit is taken inside Uniswap's own applications.
Products and services
- Isolated markets
- Lending markets defined by one collateral asset, one loan asset and fixed parameters, so risk in one market does not propagate to others.
- Vaults
- Pools that allocate depositor funds across isolated markets under a named curator's mandate, with the curator setting and revising the risk parameters.
Coverage
Developments in which Morpho is a named party, newest first.
On the record
Uniswap launches Earn, routing deposits into Morpho lending vaults
Uniswap Labs launched Earn on 30 July 2026, letting users deposit USDC, USDT or ether on Ethereum mainnet into lending vaults built on Morpho infrastructure with risk parameters curated by Gauntlet. The product is self-custodial, has no lockup or cooldown, and carries no Uniswap fee at launch beyond network costs.