Svmuu News: Tom Wan, Head of Data at Entropy Advisors and former analyst at 21.co, posted on X that the Robinhood Earn treasury managed by Steakhouse Financial on Morpho has now reached a TVL of $16 million, with an APY of 7.1%, of which 1.7% comes from the protocol’s own earnings and 5.4% from incentive subsidies.
Tom Wan noted that Robinhood allocates an annual USDG incentive budget of $115 million to this vault. Based on the current incentive rate of approximately 5%, this could theoretically support approximately $2 billion in deposits, corresponding to a TVL potential of $1.5 billion to $2.5 billion.