Robinhood Earn deposits top $400M

Deposits in Robinhood Earn, a decentralized lending product offering a 7% annual yield, have surpassed $400 million, on-chain analyst Tom Wan said on X. The product generates returns by deploying user-deposited assets through the decentralized lending protocol Morpho. Robinhood Earn is currently the second-largest product on Morpho by deposits.