Nook is Now Supporting a New Earning Source - Moonwell Vaults

We're excited to share that Moonwell USDC Vaults are now available through Nook.

Moonwell USDC Vaults leverage decentralized finance (DeFi) protocols to offer users a competitive yield on their USDC deposits. By depositing your USDC into these vaults, your funds are automatically allocated to optimal lending opportunities within the Moonwell protocol, continuously rebalancing to ensure you're consistently earning the best available rates.

Over time, the Moonwell vault has repeatedly proven to be one of the top earning and safest vaults in the ecosystem and one of the most reliable ways to consistently earn.

Currently, the Moonwell USDC Vault boasts an impressive:

• Total Value Locked (TVL) exceeding $51 million, demonstrating strong user trust and market validation.

• 175,000 transactions to date, highlighting the robust activity and reliability within the ecosystem.

If we look at the performance numbers, we can see that the Moonwell vault through Morpho is one of the higher earning pools available through Nook.

• Instant APY: 7.87% (real-time rate as of July 18)

• 7-Day Avg: 6.96%

• 30-Day Avg: 6.94%

• 90-Day Avg: 6.82%

What is the difference between a market pool and a vault?
A market pool is where users lend or borrow assets directly at variable rates based on supply and demand. A DeFi vault like Morpho automates this process, allocating your funds across lending markets to optimize yield — earning 6.82% APY over the past 90 days, for example — without manual intervention.

How does this compare to traditional earning methods?
Traditional savings accounts or CDs offer low, fixed interest rates — often under 1% — through centralized institutions. In contrast, DeFi vaults like Morpho offer higher yields by programmatically lending to overcollateralized borrowers in decentralized markets, with historical rates above 7.6%+ APY.

What is the risk?
DeFi yields involve smart contract and protocol risks — a bug or exploit could affect your funds, and assets aren’t insured like in a bank.

However, vaults like Morpho use audited contracts and lend only to overcollateralized borrowers, which helps reduce but not eliminate risk.

The Morpho Moonwell USDC Vault is built on a solid security foundation and includes strong risk management measures:

1. Audits & Formal Verification

   1. Moonwell’s contracts, including the ERC‑4626 vault contracts used by Morpho, have been thoroughly audited by top-tier firms like Halborn Security, with multiple audit reports and formal verification of vault logic

   2. Morpho’s core protocol and vault infrastructure are also rigorously vetted: over 25 independent audits, formal verification, and ongoing security reviews .

2. Bug Bounty Programs

3. Moonwell offers proactive security testing through Code4rena, with bounties up to $250,000

4. Morpho is backed by a major bounty program via Immunefi, offering up to $2.5M for critical smart contract vulnerabilities, and structured rewards even for periphery vault or optimizer bugs

Together, these layers—professional audits, formal verification, and high-value bounties—ensure the vault architecture is robust, transparent, and well-protected. While no DeFi system is 100% risk-free, this vault benefits from some of the strongest security measures in the ecosystem.

What you need to get started

To get started earning on this new vault through Nook, all you need is an and iOS device to and start depositing. No complex onboarding, bridging, or technical setup required. Android and Web coming soon.