---
title: "Deposit USDe as collateral on USDe/PYUSD 91.5%"
description: "Earn rewards by supplying USDe as a collateral on Morpho on Ethereum"
canonical: "https://app.merkl.xyz/opportunities/3421223714494547515"
chain: "Ethereum"
protocol: "Morpho"
type: "MORPHOCOLLATERAL"
page: 1
items: 25
totalPages: 1
lastCampaignCreatedAt: 2026-11-12T10:04:58.000Z
generated: "2026-11-14T02:14:41.923Z"
---

# Deposit USDe as collateral on USDe/PYUSD 91.5%

## Back to

- [Opportunities index (HTML)](https://app.merkl.xyz/)
- [Ethereum chain (markdown)](https://app.merkl.xyz/chains/ethereum.md)
- [Morpho protocol (markdown)](https://app.merkl.xyz/protocols/morpho.md)

Earn rewards by supplying USDe as a collateral on Morpho on Ethereum

## Key metrics

- **Total Value Locked**: $3
- **APR**: 5.25%
- **Protocol APR**: —
- **Daily rewards**: $0
- **Live campaigns**: 1
- **Chain**: Ethereum
- **Protocol**: Morpho
- **Protocol trusted**: Yes, verified by DefiLlama (https://defillama.com/protocol/morpho-blue)

## Tokens

- [USDe](https://app.merkl.xyz/tokens/USDe.md)

## Campaigns : page 1 of 1 (1 total)

| Campaign | Status | Reward | APR | Daily $ | Start | End |
| --- | --- | --- | --- | --- | --- | --- |
| [0xddc5fd…](https://app.merkl.xyz/opportunities/3421223714494547515/campaigns/0xddc5fd0317234b2ecbce8abed09e3f30e07c38a3a2b6b56575cf05d1388abd38.md) | live | [USDe](https://app.merkl.xyz/tokens/USDe.md) | 5.25% | $0 | 2026-11-13 | 2026-11-20 |

## Participate

- [Deposit](https://app.morpho.org/ethereum/market/0xaf2e077047775d7cac1f270bba9cb4c6286114b5000d4d647a1b577c7e28d41b)

## Links

- [Open in Merkl App (HTML)](https://app.merkl.xyz/opportunities/3421223714494547515)
- [Ethereum chain page](https://app.merkl.xyz/chains/ethereum)
- [Morpho protocol page](https://app.merkl.xyz/protocols/morpho)