One week on @TenorFinance.
Borrowers now hold $1.81M in fixed-rate loans backed by savUSD and savETH, settled on @Morpho Midnight.
savUSD on Base already ranks third across all Midnight markets by loans outstanding.
Fixed terms, real demand.
Avant is now live on @TenorFinance.
Productive capital now has access to fixed-rate credit.
savUSD and savETH holders can lock in borrowing costs while their collateral continues earning, and lenders can lock in returns over a defined term.
→ Borrow USDC or WETH at fixed rates
→ Keep earning on pledged collateral
→ Lend at fixed rates, plus rewards
Expanding the credit infrastructure around Avant assets.
Avant Weekly Yield Report | October 16
Avant closed the week at $159.8M in TVL, with savUSD moving back to 8.00% while BTC and ETH yields were softer across most strategies.
Senior Tranches
→ savUSD: 8.00% projected APY | +0.39pp
→ savBTC: 2.30% | -0.07pp
→ savkBTC: 1.22% | -0.57pp
→ savETH: 3.93% | -0.03pp
Junior Tranches
→ avUSDx: 13.12% projected APY | -0.12pp
→ avBTCx: 2.93% | -0.10pp
→ avkBTCx: 2.80%
→ avETHx: 7.37% | -0.63pp
savUSD was the strongest mover this week, rising 39 basis points to 8.00%, while avUSDx remained above 13%.
BTC and ETH returns moved lower across most of the suite as lending conditions and borrowing costs continued to shift across underlying markets.
avkBTCx held steady at 2.80%.
USDC lenders in the savUSD market on @Morpho sit senior to the posted collateral.
→ Each loan is overcollateralized with savUSD
→ If a position is liquidated, the collateral repays lenders first, so losses hit the borrower before lender principal
→ Most of the yield comes from borrower demand rather than incentives
The result is the same structure that anchors traditional credit markets, now running onchain on @base.
USDC lenders on @Morpho's savUSD market on @base are earning 7.75% APY.
That's 6.58% in native lending yield + 1.17% in USDC incentives, currently doubled and matched by @base.
Explore the market:
app.morpho.org/base/variable…
Lending markets and risk curators are becoming a core part of Base’s financial infrastructure.
As that credit system grows, collateral structure matters more.
savUSD is already doing this by bringing senior tranche yield into Morpho’s lending markets.
That’s Avant’s role in this growth.
USDC lenders on @Morpho's savUSD market on @base are earning 7.75% APY.
That's 6.58% in native lending yield + 1.17% in USDC incentives, currently doubled and matched by @base.
Explore the market:
app.morpho.org/base/variable…
September was a historic month for Avant.
September took Avant to new networks, credit markets, and beyond its own products.
→ TVL: $170.5M
→ savUSD yield distributed in September: $640,000
→ savUSD yield distributed since inception: $13,700,000
→ Avant is now live across 14 networks
What we shipped:
→ Avant launched on @base, starting with savUSD within @Morpho's open credit network
→ @fluidkey began using the @Morpho/@kpk_io vault, powered by Avant, in its Earn product
→ avkBTC passed $3M in TVL on @inkonchain, less than a month after launch
→ The avUSD/AUSD pool on @Balancer passed $2.6M in TVL on @monad
We're just getting started.
"@avantprotocol market on Morpho has grown to $2.4M on Base."
Now $3.18M.
$5M next. 🟦
Avant Weekly Yield Report | October 9
Avant closed the week at $166.85M in TVL, with yields mixed across the suite as borrowing costs and utilization shifted across lending markets.
Senior Tranches
→ savUSD: 7.61% projected APY | +0.13pp
→ savBTC: 2.37% | +0.20pp
→ savkBTC: 1.79% | -0.15pp
→ savETH: 3.96% | -0.38pp
Junior Tranches
→ avUSDx: 13.24% projected APY | -0.69pp
→ avBTCx: 3.03% | -0.15pp
→ avkBTCx: 2.80% | +0.47pp
→ avETHx: 8.00% | +0.75pp
BTC senior yields improved modestly this week, with savBTC moving to 2.37%.
The strongest moves came from the junior ETH and kBTC strategies, with avETHx rising to 8.00% and avkBTCx to 2.80%.
Borrowing costs remain elevated across several markets, creating a wider spread in returns across USD, BTC, and ETH strategies.
Base is becoming the distribution layer for productive onchain capital.
Lending, payments, tokenized assets, and settlement are converging here. Our role is to make that capital usable across the stack, starting with @Morpho open credit network.
That's why we launched on @base.
Base builders ship hard
Here's 25 things the Base ecosystem launched and announced in September
1) @aave listed Coinbase Tokenized Stocks. Holders can deposit stocks on Base as collateral and borrow USDC against them on Aave V4
2) @modveon launched Sivar. Now Salvadorans can send money between the US and El Salvador at low cost, with instant transfers that settle in seconds on Base
3) @Cloudflare opened a closed beta of its Monetization Gateway. APIs on Cloudflare can charge agents per request, settled in USDC on Base
4) Coinbase partnered with @Citi to bring stablecoin acceptance to Base, letting institutions take stablecoin payments on regulated rails with automatic fiat settlement
5) 10 teams were selected for Base Batches 004 out of 750+ applicants: @bitrepo_xyz, @contavcbr, @flovia402, @greekdotfi, @get_grow_app, @mercatus_ai, @rennfinance, @saturdaybank, @tribeca_xyz, and @ledig_tech
6) @catalystmkts_ launched markets on Base for whether an event happens, starting with social interactions and expanding to listings, launches, news, and onchain events
7) @verantaxyz launched 39 new assets on Veranta and Base. Traders can trade them with up to 25x leverage, including 26 assets that were not tradable onchain
8) @2factorfinance launched its public beta on Base. Long-term holders can hold moderate leverage indefinitely, first on Bitcoin and then on Coinbase Tokenized Stocks, at a fraction of what a leveraged ETF costs to carry
9) @avantprotocol launched Avant on Base, onchain infrastructure for productive capital. It starts by bringing that capital into @morpho lending markets
10) @alchemixfi launched Alchemix V3 on Base. Users can now deposit once and earn with no lock-up, borrow against that money with no interest while it keeps earning, or lock in a fixed return
11) @upshift_fi is live on Base with @clearstarlabs. Curators, fintechs, and asset managers can launch vaults, and depositors keep their own funds. The first vault lets XRP holders earn on cbXRP in @morpho lending markets
12) @revertfinance launched Revert Rewards on Base. Liquidity providers can open a position in the tokenized stock pools on @aeroxyz, set a price range, and track the fees hour by hour
13) @clearstarlabs added cbZEC and cbHYPE to its cbAssets Vault on Base. Both markets are live in its largest vault on @morpho
14) @o1_exchange launched tax tokens on its launchpad on Base. Creators can set a buy and sell tax from 1% to 10% and route it to themselves, to holders as dividends paid in the paired asset, or to burns
15) @zothdotio expanded zPayments on Base, a stablecoin settlement platform for businesses. Businesses can pay out in local currency across 171 countries, at one stated rate, with instant settlement
16) @munifyai is now on Base. People can receive, hold, spend, and move dollars in one account with USDC on Base
17) @rifthq released an onchain API, letting users send money to a deposit address while it runs the swap, bridge, or deposit, including routes to Base
18) @morpho introduced P2P Orders for Midnight on Base, letting you set your own terms from the fixed-rate app
19) @numoforex launched a Naira Perp market on Base. Traders can now trade USDC-cNGN-PERP directly on Base
20) @fluidkey turned on auto-earn on Base. USDC you receive starts earning when it lands, through a vault curated by @kpk_io on @morpho
21) @predofficial opened NBA preseason markets on Base, letting users back their takes on a game with no fees for the whole season
22) @longshotxyz added soccer markets on Base, featuring leagues from Spain, England, and USA
23) @flapdotsh is now on Base. Tokens launched on Flap can trade against tokenized stocks, so an onchain token can be paired with a real-world asset
24) @norafinancexyz launched $BRS on Base, the Brazilian real onchain, adding more distribution and more ways to plug it into other apps
25) @roqqupay introduced the Roqqu Go Card, a multi-currency card for spending crypto like cash, running USDC on Base
Base builders ship hard
Here's 25 things the Base ecosystem launched and announced in September
1) @aave listed Coinbase Tokenized Stocks. Holders can deposit stocks on Base as collateral and borrow USDC against them on Aave V4
2) @modveon launched Sivar. Now Salvadorans can send money between the US and El Salvador at low cost, with instant transfers that settle in seconds on Base
3) @Cloudflare opened a closed beta of its Monetization Gateway. APIs on Cloudflare can charge agents per request, settled in USDC on Base
4) Coinbase partnered with @Citi to bring stablecoin acceptance to Base, letting institutions take stablecoin payments on regulated rails with automatic fiat settlement
5) 10 teams were selected for Base Batches 004 out of 750+ applicants: @bitrepo_xyz, @contavcbr, @flovia402, @greekdotfi, @get_grow_app, @mercatus_ai, @rennfinance, @saturdaybank, @tribeca_xyz, and @ledig_tech
6) @catalystmkts_ launched markets on Base for whether an event happens, starting with social interactions and expanding to listings, launches, news, and onchain events
7) @verantaxyz launched 39 new assets on Veranta and Base. Traders can trade them with up to 25x leverage, including 26 assets that were not tradable onchain
8) @2factorfinance launched its public beta on Base. Long-term holders can hold moderate leverage indefinitely, first on Bitcoin and then on Coinbase Tokenized Stocks, at a fraction of what a leveraged ETF costs to carry
9) @avantprotocol launched Avant on Base, onchain infrastructure for productive capital. It starts by bringing that capital into @morpho lending markets
10) @alchemixfi launched Alchemix V3 on Base. Users can now deposit once and earn with no lock-up, borrow against that money with no interest while it keeps earning, or lock in a fixed return
11) @upshift_fi is live on Base with @clearstarlabs. Curators, fintechs, and asset managers can launch vaults, and depositors keep their own funds. The first vault lets XRP holders earn on cbXRP in @morpho lending markets
12) @revertfinance launched Revert Rewards on Base. Liquidity providers can open a position in the tokenized stock pools on @aeroxyz, set a price range, and track the fees hour by hour
13) @clearstarlabs added cbZEC and cbHYPE to its cbAssets Vault on Base. Both markets are live in its largest vault on @morpho
14) @o1_exchange launched tax tokens on its launchpad on Base. Creators can set a buy and sell tax from 1% to 10% and route it to themselves, to holders as dividends paid in the paired asset, or to burns
15) @zothdotio expanded zPayments on Base, a stablecoin settlement platform for businesses. Businesses can pay out in local currency across 171 countries, at one stated rate, with instant settlement
16) @munifyai is now on Base. People can receive, hold, spend, and move dollars in one account with USDC on Base
17) @rifthq released an onchain API, letting users send money to a deposit address while it runs the swap, bridge, or deposit, including routes to Base
18) @morpho introduced P2P Orders for Midnight on Base, letting you set your own terms from the fixed-rate app
19) @numoforex launched a Naira Perp market on Base. Traders can now trade USDC-cNGN-PERP directly on Base
20) @fluidkey turned on auto-earn on Base. USDC you receive starts earning when it lands, through a vault curated by @kpk_io on @morpho
21) @predofficial opened NBA preseason markets on Base, letting users back their takes on a game with no fees for the whole season
22) @longshotxyz added soccer markets on Base, featuring leagues from Spain, England, and USA
23) @flapdotsh is now on Base. Tokens launched on Flap can trade against tokenized stocks, so an onchain token can be paired with a real-world asset
24) @norafinancexyz launched $BRS on Base, the Brazilian real onchain, adding more distribution and more ways to plug it into other apps
25) @roqqupay introduced the Roqqu Go Card, a multi-currency card for spending crypto like cash, running USDC on Base
Avant Weekly Yield Report | October 2
Yields shifted across Avant’s suite this week, with $170.5M in TVL.
ETH moved higher across both tranches, while USD and BTC yields were more mixed as lending conditions continued to adjust.
Senior Tranches
→ savUSD: 7.48% projected APY | -0.36pp
→ savBTC: 2.17% | -0.11pp
→ savkBTC: 1.94% | +0.37pp
→ savETH: 4.34% | +0.33pp
Junior Tranches
→ avUSDx: 13.93% projected APY | -0.04pp
→ avBTCx: 3.18% | -0.06pp
→ avkBTCx: 2.33% | -0.38pp
→ avETHx: 7.25% | +0.32pp
ETH was the clearest mover this week, with both savETH and avETHx increasing by more than 0.30 percentage points.
avkBTC continued to scale, reaching $3.5M in TVL, up 17% from last week, while savkBTC yield increased to 1.94%.
Avant retweeted
Fluidkey now routes every incoming payment into a @Morpho vault on @base curated by @kpk_io and powered by @avantprotocol, so funds start working the moment they land
Avant’s Base expansion is already extending beyond our own products.
@fluidkey is now using the @Morpho/@kpk_io vault, powered by Avant, to bring onchain yield into its Earn product.
This is the distribution layer we’re building toward.
Avant retweeted
Even higher risk-adjusted yield, now on @base














