Silvio Busonero breaks down why Morpho’s blue-chip USDC vaults have consistently outperformed Aave’s USDC supply rate by ~150 bps, pointing to differences in user composition, institutional BD partnerships, and market structure rather than pure risk. He argues the spread should compress over time as allocators grow more comfortable with Morpho’s vault abstractions.


𝕏/@SilvioBusonero •