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# vaults.fyi Onchain Yield Roundup - December 6, 2024
- URL: https://blog.vaults.fyi/onchain-yield-roundup/
- Published: 2024-12-06T20:57:30.000Z
- Updated: 2025-04-01T13:35:06.000Z
- Author: vaults.fyi
- Tags: Insights

**A look at the top DeFi opportunities:** 

- [Seamless Finance’s wstETH/ETH vault](https://www.vaults.fyi/vaults/base/0x258730e23cF2f25887Cb962d32Bd10b878ea8a4e?ref=blog.vaults.fyi) tops [vaults.fyi](https://www.vaults.fyi/vaults?ref=blog.vaults.fyi) with 51.09% APY, following recent positive ETH price action. [Convex Finance](https://www.vaults.fyi/vaults?selectedProtocols=convex&ref=blog.vaults.fyi) dominates the remainder of the top 10 with APYs > 30% in multiple crvUSD vaults.  
![](https://storage.ghost.io/c/80/1e/801e59ba-aea3-41d2-aff6-47dda0ee853e/content/images/2025/03/adbe80e0-c2ab-4068-9c6e-9c749e66b10f_1979x1185.png)
- In the [\> $50M TVL category](https://www.vaults.fyi/vaults?tvlLowerBound=50000000&ref=blog.vaults.fyi), two [Morpho](https://www.vaults.fyi/vaults?selectedProtocols=convex&ref=blog.vaults.fyi) vaults have dethroned USDe with 23.89% and 22.96% APY respectively. This high yield is explained by positive price action for the MORPHO token, which accounts for \~7% of APY in each vault—the rest of the top 10 features stablecoin vaults from [Fluid](https://www.vaults.fyi/vaults?selectedProtocols=instadapp&ref=blog.vaults.fyi), [Compound](https://www.vaults.fyi/vaults?selectedProtocols=compound&ref=blog.vaults.fyi), and [Aave](https://www.vaults.fyi/vaults?selectedProtocols=aave&ref=blog.vaults.fyi).  
![](https://storage.ghost.io/c/80/1e/801e59ba-aea3-41d2-aff6-47dda0ee853e/content/images/2025/03/a9bd4bad-dfcc-4f55-87cb-0870da3a39f0_1972x1194.png)
- Nevertheless, [USDe’s](https://www.vaults.fyi/vaults/mainnet/0x9D39A5DE30e57443BfF2A8307A4256c8797A3497?ref=blog.vaults.fyi) parabolic rise in TVL shows no signs of slowing down. Out of all vaults tracked on [vaults.fyi](https://www.vaults.fyi/vaults/mainnet/0x9D39A5DE30e57443BfF2A8307A4256c8797A3497?ref=blog.vaults.fyi), USDe is now the 4th largest vault and the largest USD vault with \~4B in TVL. Despite this, USDe maintains an impressive APY of 22.92%, making it one of the most lucrative opportunities in DeFi.  
![](https://storage.ghost.io/c/80/1e/801e59ba-aea3-41d2-aff6-47dda0ee853e/content/images/2025/03/269b96ab-e578-40f6-a3c8-b16751e59e2a_2257x1805.png)
- Blue-chip DeFi USD rates are approaching their peak last seen in March earlier this year. [vaults.fyi’s USD benchmark rate](https://www.vaults.fyi/chart-explorer?benchmarks=vaults.fyi+USD+benchmark+rate&ref=blog.vaults.fyi), the weighted average of the vaults shown below, is currently at 13.12%. We’re so back, anyone?  
![](https://storage.ghost.io/c/80/1e/801e59ba-aea3-41d2-aff6-47dda0ee853e/content/images/2025/03/dee1f564-aa6f-4002-98d1-356420362d03_2128x1006.png)  
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