Robinhood Opens Earn to All Eligible Users for Onchain USDG Lending

The notable detail is the plumbing, not the yield: deposits flow through a Steakhouse-curated Morpho vault on Robinhood's own chain, which makes this a test of whether a mainstream brokerage can push retail users into DeFi rails without them noticing the wrapper. It matters most for Morpho and curator-led vaults, which gain a distribution channel far larger than native DeFi audiences. The withdrawal-liquidity caveat is the real story for users accustomed to instant access. Whether vault capacity and liquidity keep pace with retail inflows is the open question.