V2 DeFi Yields
The highest honest V2 yield right now is 6.86% on morpho-blue (Ethereum), among 2 pools above the $100K TVL floor. Rates are live from DefiLlama and exclude anomalous (>1000% APY) pools.
2 live pools above the $100K TVL floor · ranked by TVL
V2's largest live pool is morpho-blue on Ethereum at 6.86% ($3.86M TVL). 2 V2 pools across 2 chains clear this page's $100K TVL floor, $4.08M in total.
Your idle V2 could earn ~5.92% — park $4.1K and it could run a $20/mo Claude Pro subscription, forever.
See live V2 pools →| Protocol | Chain | APY | TVL |
|---|---|---|---|
| morpho-blue → | Ethereum | 6.86% | $3.86M |
| morpho-blue → | Base | 4.98% | $212.6K |
Rate stability from APY history
Based on APY history only, V2's lower-variability candidates are morpho-blue (Base), 4.98% APY, $212.6K TVL, https://www.defi.garden/?pool=d3b75c5c-3e30-4c87-ad3c-f94b9359c59f&src=seo_token; morpho-blue (Ethereum), 6.86% APY, $3.86M TVL, https://www.defi.garden/?pool=04b66432-af9e-44d0-a44d-80189f511b13&src=seo_token. This comparison does not measure protocol, exploit, depeg, liquidity, governance, or principal-loss risk.
| Rank | Protocol | Chain | APY | TVL |
|---|---|---|---|---|
| 1 | morpho-blue → | Base | 4.98% | $212.6K |
| 2 | morpho-blue → | Ethereum | 6.86% | $3.86M |
How this rate has behaved
V2 shows up in 2 pools here, with rates from 4.98% to 6.86% APY across 2 chains — the rate depends on which protocol and chain you pick, not just the token.
2 of these 2 pools have a trustworthy 30-day average on file, with a median of 6.19% — a useful check against today's number for whether the rate is steady or just having a good day.
1 of 2 pools blends in incentive or reward APY on top of the base rate. Incentive yield decays over time as reward programs run down — the base rate is the more durable number.
2 of 2 pools carry impermanent-loss risk, meaning a two-sided position can lose value against just holding, even while it earns yield.
| Protocol | APY | 30d Mean APY | Yield mix |
|---|---|---|---|
| morpho-blue | 6.86% | 6.91% | 13.54% incentives |
| morpho-blue | 4.98% | 5.47% | Base rate |
The 30-day average comes straight from DefiLlama and only appears when it passes the same sanity rail as every other number on this page — a dash means it didn't clear that bar, not that it's being hidden. Every pool here already clears a $100K minimum TVL. Rates move daily, so treat this as a snapshot, not a promise.
Frequently asked questions
What's the highest V2 yield today?
6.86% APY on morpho-blue (Ethereum), based on live DefiLlama data.
How many V2 pools clear the TVL floor?
2 live pools clear this page's $100K TVL floor, $4.08M in total.
Are these rates safe?
Pools listed on this page clear a $100K minimum TVL and exclude anomalous (>1000% APY) rates — that is this page's listing bar, not a safety guarantee. This is education, not financial advice; DeFi carries smart-contract and market risk regardless of the rate shown.
Which V2 pools have the most stable APY history?
Based on APY history only, V2's lower-variability candidates are morpho-blue (Base), 4.98% APY, $212.6K TVL, https://www.defi.garden/?pool=d3b75c5c-3e30-4c87-ad3c-f94b9359c59f&src=seo_token; morpho-blue (Ethereum), 6.86% APY, $3.86M TVL, https://www.defi.garden/?pool=04b66432-af9e-44d0-a44d-80189f511b13&src=seo_token. This comparison does not measure protocol, exploit, depeg, liquidity, governance, or principal-loss risk.
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Yields are live from DefiLlama. Pools on this page clear a $100K minimum TVL and exclude anomalous rates — that's this page's listing bar, not a safety guarantee. Education only, not financial advice.
Last updated September 2, 2026
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