Introduction
Crypto isn't just about buying and selling. There are mechanisms that let your assets generate returns: staking, lending, DeFi. Deblock offers a fixed 4% yield on EURCV. But to understand what you're using — and avoid pitfalls — it's worth understanding where that yield comes from and what it means.
What is crypto yield?
Yield refers to any mechanism that lets you earn more crypto (or euros) in exchange for making your assets available. Just as a savings account pays interest on your deposit, crypto offers several ways to 'put your assets to work'.
The big difference from a savings account: returns can be much higher, but risks are also greater. No crypto yield is state-guaranteed. Each mechanism has its own risks, which are essential to understand.
Savings account vs crypto yield
A government savings account might offer 3% — guaranteed. A DeFi protocol might offer 8% — but if the protocol is hacked or the token crashes, you could lose everything. Understanding the mechanism means calibrating the risk.
Staking
Staking means locking up crypto in a blockchain network to help validate transactions. In return, the network rewards you with newly created crypto. Ethereum, Solana, and other networks use this model (called Proof of Stake).
On Deblock, you can stake ETH and SOL directly from the app. Returns vary by network and period, but typically range from 3% to 7% annually. The main risk: the value of the underlying asset can fall.
- Staking = locking crypto to help secure a network.
- Rewards paid in crypto, not euros.
- Risk: the asset's value can fluctuate significantly.
DeFi and Morpho
DeFi (decentralised finance) is a set of protocols that recreate traditional financial services — loans, borrowing, exchanges — on the blockchain, without a bank intermediary. You deposit assets into a smart contract, other users borrow them, and you earn interest.
Morpho is one of the most solid DeFi protocols on the market, specialising in optimised lending. Deblock uses Morpho to offer a fixed 4% yield on EURCV (a euro stablecoin). This is a DeFi lending mechanism, not a state-guaranteed bank deposit.
4% on EURCV is risk-free, just like a regular savings account.
Actually : No crypto yield is state-guaranteed, unlike a regular savings account. The risk is low (Morpho is audited, Deblock is AMF-regulated with segregated funds), but not zero. A difference worth understanding before you start.
Try the 4% with €50
There's no need to put in a large amount right away. €50 is enough to watch the mechanism run for a few months and form your own opinion at your own pace. Withdraw at any time.
Try the Deblock yieldEURCV: the euro stablecoin behind the yield
When you enable Deblock's 4% option, your euro balance is converted to EURCV — a euro stablecoin issued by SG-FORGE, the digital branch of Société Générale. Each EURCV represents one euro, backed by real assets held by the bank. It is not a volatile crypto: EURCV is designed to maintain its value at €1.
Why the conversion? Because Morpho and DeFi run on-chain: to lend euros through a decentralised protocol, they first need to be represented as a token. EURCV is that bridge — without it, no DeFi yield on your euros.
EURCV ≠ speculative crypto
EURCV is not a volatile asset like Bitcoin. Its target value is always €1. The risk is not price fluctuation but the quality of the issuer (SG-FORGE / Société Générale) and the strength of the pegging mechanism. SG-FORGE is a regulated entity.
How Morpho generates the yield: the vault mechanics
Once your EURCV is in the system, it enters a vault on Morpho. That vault lends the EURCV to institutional borrowers or protocols that post collateral — usually Bitcoin or Ether. The interest those borrowers pay is the yield distributed every day on your account.
Morpho optimises automatically: it constantly looks for the best available lending conditions, allocates funds accordingly, and manages liquidity and collateral safety. You configure nothing — everything runs in the background while you use your account normally.
The vault just holds my euros without lending them.
Actually : It is precisely the lending to borrowers that generates the yield. Without that activity, there would be no 4%. The principle is similar to a bank savings account — the bank lends your money and pays you interest — but here it is automated on-chain, without a classic bank intermediary.
The real risks to know
Smart contract risk: a DeFi protocol can be hacked. In 2022–2023, several billion dollars were stolen through smart contract vulnerabilities. Morpho is audited and reputable, but no protocol is infallible.
Liquidity risk: some yield mechanisms lock your assets for a period. If you need funds quickly, check the exit conditions before committing. Counterparty risk: whenever you entrust funds to a platform or protocol to earn yield, you add that counterparty's risk — which is why AMF regulation and associated protections matter.
- Smart contract risk: protocol hacked or failing.
- Liquidity risk: funds locked for a period.
- Market risk: crypto value can fall even if the yield is positive.
What you should remember
- 01Yield = putting assets to work for a return, with no state guarantee.
- 02Staking secures a blockchain network and rewards you with freshly created crypto.
- 03EURCV is the euro stablecoin from SG-FORGE (Société Générale branch) that bridges euros to DeFi.
- 04The Morpho vault lends your EURCV to collateralised borrowers — that is where the 4% comes from.
- 05Key risks to know: smart contracts, liquidity, stablecoin depeg, and broader crypto market.
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