upUSDC is a token deployed on Base at address 0x80e1048ede66ec4c364b4f22c8768fc657ff6a42. It functions as a yield-bearing derivative of USDC, primarily associated with the Upshift program. While the Base deployment currently shows no Aerodrome liquidity or vote-market participation, the token is actively utilized in Pendle markets on Ethereum mainnet, where it is structured as a yield-bearing asset with a maturity date of October 2, 2025.
The Pendle market data indicates an implied APY of approximately 25%, with over $1 million in total value locked. This suggests upUSDC is designed to capture and tokenize underlying USDC yield, allowing holders to trade or yield-farm the future interest stream. However, specific contract details such as token decimals and current spot pricing are not available in the provided dataset, and the Base address appears to be a newer or less active deployment compared to its Ethereum counterpart.