Apyx is now live on Morpho

We're excited to announce that Apyx has partnered with AlphaPing to launch new Morpho markets for apyUSD and apxUSD on Ethereum.

This integration expands access and liquidity for Apyx assets while creating new ways for users to put capital to work through risk-managed vault strategies. With the launch of the Alpha APXUSD V2 Vault and the apyUSD/apxUSD market, users can now lend apxUSD, borrow against apyUSD, and access new DeFi strategies around enhanced digital credit yield.

What’s Now Live

1. Alpha APXUSD V2 Vault

Morpho | Alpha APXUSD V2 vault

Morpho x Alpha APXUSD V2 vault. Alpha APXUSD V2 is an actively curated on-chain credit vault designed to allocate capital across selected overcollateralized lending opportunities based on risk liquidity and market conditions.

Morpho Interface

Users can deposit apxUSD into the Alpha APXUSD V2 Vault to earn variable yield.

Deposited capital is deployed to the apyUSD/apxUSD market based on borrow demand and the vault’s risk framework. This helps deepen liquidity for Apyx on Morpho while giving suppliers a new way to earn yield.

2. apyUSD/apxUSD Market

Morpho | apyUSD/apxUSD market

Morpho apyUSD/apxUSD market. Lend and borrow using the most secure, efficient, flexible lending protocol on Ethereum.

Morpho Interface

Users can also supply apyUSD as collateral on Morpho to borrow apxUSD against that position.

A typical user flow looks like this:

1. Supply apyUSD as collateral
2. Borrow apxUSD against the position
3. Keep the borrowed apxUSD for liquidity or redeploy it into other strategies

All while maintaining exposure to enhanced digital credit yield, with a 5x Pips multiplier based on the amount of apxUSD borrowed.

Why This Matters

This launch is an important step in Apyx’s broader DeFi expansion.

As Apyx grows, the ecosystem needs deeper liquidity, more composability, and more venues where users can deploy capital efficiently. Morpho provides a strong foundation for that expansion with a lending architecture built for efficiency and flexibility, while AlphaPing offers transparent execution within a structured framework.

• For apxUSD holders, the Alpha APXUSD V2 Vault introduces a new opportunity to earn yield on idle capital.
• For apyUSD holders, the apyUSD/apxUSD market creates a new liquidity path that preserves exposure to yield-bearing digital credit while unlocking borrowing power.

If you have any questions, feel free to reach out in our Discord or Morpho’s Discord.

Want to learn more about our latest points program where 5% of the APYX total supply is up for grabs? Check out our latest blog post.