eEARN vaults
- This stablecoin does not have a price feed available at the moment and we are unable to display peg/depeg rates.
About eEARN vaults
Ember Earn eEARN is used in 3 stablecoin vaults with $1.2M TVLacross 1 protocol. The largest vaults are Royco Senior Tranche eEARN, Royco Junior Tranche eEARN, Covered Ember Earnand the most popular vault protocol is Royco. The last 30 days' average yield is 10.3%.
1 vault is excluded from this ranking due to minimum TVL requirements or risk issues.
About Ember Earn
eEARN is the ERC-4626 vault-share token issued by Ember Protocol for its Earn Vault, which accepts USDC deposits and runs opportunistic stablecoin yield strategies. The token appreciates against USDC as the vault accumulates yield from lending spreads, disciplined looping across blue-chip protocols, and delta-neutral funding-rate captures.
eEARN is the receipt (share) token of the Ember Protocol Earn Vault on Ethereum. Ember Protocol is a unified vault platform that tokenises yield and fund strategies across DeFi, CeFi, and Web2, incubated by Upshift Fi and Bluefin.
Mechanism
When a user deposits USDC into the Earn Vault, they receive eEARN shares at the current exchange rate, which starts at 1:1 and rises continuously as the vault generates yield. The vault is managed by Ember curators who allocate pooled USDC across multiple opportunistic stablecoin yield sources:
- Lending-rate spreads — supplying USDC to blue-chip money markets (Aave, Compound, etc.)
- Disciplined looping — leveraged lending loops to amplify stable-asset APY
- Delta-neutral funding capture — basis and funding-rate trades on perp DEXes
eEARN holders do not receive rebasing distributions; instead the vault's exchange rate appreciates, meaning 1 eEARN redeems for progressively more USDC over time.
Relationship to Royco tranches
eEARN is also the denomination token for Royco-protocol tranche vaults (ROY-ST-eEARN / ROY-JT-eEARN) on Ethereum, which wrap eEARN shares into senior/junior tranches that redistribute yield and risk between depositor cohorts.
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Performance and risk
The vaults on the listing are limited to the current category. See all vaults.
| 3M price | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Royco Junior Tranche eEARN Royco | 18.1%* | 16.3%* | 6.6%* | 11.8 | 1.3% | -0.0% | eEARN | $144.77K $181.86K | 0.4 | --- | Unknown | Unknown |  | ||
Royco Senior Tranche eEARN Royco | 9.1%* | --- | 1.1%* | 10.2 | 0.8% | 0.0% | eEARN | $976.41K $976.41K | 0.1 | --- | Unknown | Unknown |  | ||
Covered Ember Earn Unknown vault protocol | -1.3%* | --- | -0.3%* | -15.5 | 0.1% | -0.3% | eEARN | $48.72K $48.86K | 0.2 | --- | Capped | Unknown |  |
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