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Stablecoin yields shouldn't require a PhD in decentralized finance.
That's the premise behind Unflat, a startup building a mobile-first yield generation app on top of Morpho, designed specifically for the European market.
In a recent conversation with Stablecoin Insider, CEO Alessandro Prandini laid out why his team chose Morpho as their foundation, why USDC is their starting point, and why he believes stablecoins represent one of the biggest opportunities, or threats, facing traditional banks today.
Why is Unflat Building on Morpho? Segregated Risk and Deep Liquidity
Prandini's decision to build on Morpho wasn't arbitrary.
Morpho's architecture allows Unflat to tailor risk exposure based on user profiles, offering granular control over how capital is deployed.
More importantly, Morpho's design ensures that a failure in one market can't cascade into others, which is a critical feature for an app targeting users who may not fully understand the risks embedded in traditional DeFi lending pools.
"Think of us as an ETF layer," Prandini explained.
The analogy is apt: just as ETFs package underlying assets into a simple, accessible product, Unfelt abstracts the complexity of Morpho's vaults into something a retail user can interact with from their phone.
The strong liquidity available on Base chain further reinforces the choice.
USDC First, EURC Next
Unflat is launching with USDC for two strategic reasons.
First, USDC's tight integration with Base chain, backed by Coinbase, provides robust infrastructure and trust.
Second, USDC has become the de facto standard for European crypto users thanks to its MiCA compliance, making it the natural starting point for a product targeting this market.
The team also plans to integrate EURC (Circle's euro-denominated stablecoin) as soon as possible, a move that would make Unflat even more relevant for European users who want to avoid dollar-denominated currency risk.
Built for the Non-Crypto Native
Unflat's target user has never heard of a vault, doesn't know what Morpho is, and has no interest in learning. Prandini is building for two overlapping audiences: everyday consumers who find blockchain intimidating, and traditional finance professionals who understand yield but not DeFi infrastructure.
The APY on offer will mirror what Morpho typically provides, nothing flashy, no unsustainable 20% promises. The goal is safe, secure, and consistent returns that still meaningfully outperform the 0.5% APY that most European banks currently offer on savings accounts. In a world where money is being debased, even modest DeFi yields represent a significant improvement over the status quo.
The team has already developed apps for both the Apple App Store and Google Play Store and is currently in beta testing. They're holding off on a full launch until EURC integration is ready, signaling that the European positioning is core to their identity rather than an afterthought.
Stablecoins: Opportunity or Threat for Banks?
Prandini is bullish on the broader stablecoin market. When asked about yield-bearing stablecoins, he called them a positive evolution, less of a niche experiment and more of a legitimate savings product that's here to stay. For major banks, stablecoins represent a fork in the road: embrace them as an opportunity, or be disrupted by them as a threat.
Notably, he emphasized that stablecoins are not a revolution created by banks. They're a revolution created by users, a bottom-up movement that institutions are only now beginning to reckon with.
The Lending Market: From Scammers to Institutions
Reflecting on how the crypto lending market has evolved over the past decade, Prandini acknowledged the industry's rough history. The early days were plagued by bad actors and outright scams. But the market has matured significantly, with regulation and institutional involvement now driving the space toward legitimacy.
Why Unflat Over Other Yield Platforms?
When asked what differentiates Unflat from simply using other yield platforms, Prandini pointed back to Morpho's core advantage: segregation of risk.
Using specific yield apps means placing a bet on that specific protocol and if something goes wrong in one market, the contagion risk is real.
Morpho's isolated market structure eliminates that dependency.
For users just getting started, Prandini actually recommends studying the space first and experimenting directly with platforms like Aave and Morpho.
Unflat isn't trying to replace DeFi literacy, it's trying to make the benefits of DeFi accessible to people who will never acquire it.
Unflat is currently in beta. Join their waitlist here.
Follow their progress as they prepare for a full European launch with USDC and EURC support.
