SafePal Earn allows you to deposit stablecoins like USDC and USDT in Morpho vaults to earn competitive yields. This guide walks you through the depositing process step-by-step.
Prerequisites
- SafePal App installed (App V4.10.6 or above)
-
Funds in your wallet:
- $USDC or $USDT ( on Ethereum/Base/Arbitrum network)
- $ETH for gas fees
Step-by-Step Guide
Step 1: Access SafePal Earn
Open your SafePal App, tap the Earn tab from the bottom wallet navigation.
Scroll or search to find Stake tab and tap on it.
Step 2: Select a Vault and choose either
- Morpho USDC vault (for USDC deposits)
- Morpho USDT vault (for USDT deposits)
Select one vault pool to deposit, here we will deposit $USDC on Base network to Morpho as an example. And you can review the key information such as:
Current APY (Annual Percentage Yield), Total Value Locked, Minimum deposit, Withdrawal conditions etc.
Step 3: Approve Token Spending
Enter your depositing amount on your chosen vault, and tap Confirm.
Select one network fee standard and Confirm the gas fee in your wallet.
Enter your App password to authorize the signature.
Wait for transaction confirmation (usually within 1-3 minutes).
You can view your Equity value after the depositing is successful.
Withdrawal Process
1. Navigate to your Morpho vault position
2. Tap Withdraw
3. Enter the amount of your withdrawal (partial or full), click Confirm.
4. Confirm transaction and pay gas fee
5. Funds return to your wallet (typically within 1 transaction)
Important Considerations
- Gas fees: Required for approval, deposit, and withdrawal
- APY fluctuations: Rates change based on market conditions
- Security: Only use official SafePal App from trusted sources
- Network: Ensure you're on Ethereum mainnet
- Risk disclosure: DeFi yields involve smart contract risks
Tips for Optimal Depositing
- Monitor gas prices for cost-effective transactions
- Consider dollar-cost averaging deposits
- Regularly check for vault updates or migrations
- Keep some ETH for unexpected withdrawals
Troubleshooting
- Transaction stuck? Check blockchain explorer and adjust gas if needed
- Vault not appearing? Ensure App is updated to latest version
- No earnings showing? Allow 24 hours for initial accrual
Need Help?
-
SafePal Customer Support here
Disclaimer
This guide is for educational purposes. Crypto investments carry risks, including potential loss of principal. Do your own research and only invest what you can afford to lose. Yield rates are variable and not guaranteed.
