Borrow USDC with thBILL on Silo or Morpho, which is more cost-effective? Here’s the conclusion: without a doubt, it’s Morpho. 1️⃣ Interest Thanks to the @arbitrum drip rewards, Morpho’s original 4.47% annual interest rate is reduced to 4.17%. Silo doesn’t have any bonuses, and its annual interest rate is less stable compared to Morpho. Last night it was 6%, today it’s 3.2%. The rate changes depending on current borrowing demand, measured by utilization. However, Morpho tends to be more stable. 2️⃣ USDC TVL USDC’s TVL in Morpho has been steady at around 5M. Silo’s is approximately 112.2k. 3️⃣ Rewards Morpho offers daily rewards from the @arbitrum Drip campaign: 3.68KU and APR of 1.57%. Silo doesn’t have any rewards. @Theo_Network’s thBILL new pt and yt will expire on February 19 next year, so be mindful of the risks~