---
title: "Yearn v3 USDC Vault (yvUSDC-1) Stablecoin Analytics"
canonical: "https://pharos.watch/stablecoin/yvusdc-yearn/"
description: "Build-time stablecoin profile for Yearn v3 USDC Vault (yvUSDC-1). Live price, supply, peg, liquidity, and flow data are served by the Pharos API."
dateModified: "2026-09-07"
---



# Yearn v3 USDC Vault (yvUSDC-1)

**Peg:** US Dollar

**Backing:** Crypto-Collateralized

**Governance:** CeFi-Dependent

**Status:** active

## Overview

yvUSDC-1 is the canonical Yearn v3 USDC vault: an ERC-4626 {{term:yield-bearing}}share token{{/term}} whose price appreciates as Yearn's allocator rotates capital across governance-whitelisted strategies. The whitelist is broader than the book. Funded allocation has narrowed onto the Sky ecosystem with the Morpho leg revoked, so diversification here is a governance option rather than a present fact. Minting is deposit-only, the mint review closed out cleanly, and exits still queue against aggregate strategy liquidity, which matters in a drawdown. The interesting fact is the one that never moves: the N/A overall grade is a ceiling rather than Yearn's own arithmetic, the rule that a child cannot rate above the parent it requires. Every pillar on this card scores above the grade the card is permitted to carry, which is the dependency graph doing exactly what it exists to do: hold a wrapper and you hold the wrapped thing's rating, on someone else's schedule.

## Collateral

USDC allocated through the Yearn v3 strategy allocator. At Ethereum block 26155393 on October 9, 2026, four funded strategies reconciled exactly to totalDebt: USDC to USDS Depositor, USDC to sUSDS Lender, Yearn USDC, and the off-default-queue stcUSD/USDC Pawn Broker Market. Spark USDC Lender had zero recorded debt.

## Peg Mechanism

ERC-4626 Yearn v3 vault shares accrue value against USDC as the underlying strategies generate yield; redemptions return USDC subject to the v3 queue and strategy liquidity

## Contracts

| Chain | Address | Decimals |
| --- | --- | --- |
| ethereum | `0xbe53a109b494e5c9f97b9cd39fe969be68bf6204` | 6 |

## Live Data

Real-time price, supply, peg score, liquidity, and flow data live at https://api.pharos.watch/api/stablecoin/yvusdc-yearn.