Gauntlet USDC Core on Arbitrum
A Morpho vault on Arbitrum that lends out USDC deposits, curated by Gauntlet. Depositors earn 5.64% a year right now after a 10% performance fee.
Data from Morpho's API · updated
Net APY
5.64%
after fees, paid to depositors
30-day APY
2.92%
7-day 3.68%, from the share price
Deposits
$373K
373.20K USDC
Withdrawable now
$203K
55% of deposits
Performance fee
10%
of the interest earned
Depositors
1,128
largest holds 12.4%
Gauntlet USDC Core APY history
Net APY earned each day, from the vault's share price: after fees, without token rewards
| Day | Deposits | Net APY |
|---|
Deposits over time
Where the money goes
The markets this vault lends to right now, largest first
| Market | Lent | Share |
|---|---|---|
| WBTC / USDCLLTV 86% | $204K | 50.4% |
| sUSDS / USDCLLTV 94.5% | $159K | 39.2% |
| wstETH / USDCLLTV 86% | $42.1K | 10.4% |
| PT-USDai-18JUN2026 / USDCLLTV 91.5% · under $1,000, not tracked here | $0 | 0.0% |
| Idle cashnot lent out | $0 | 0.0% |
The curator decides which markets the vault may use and how much it may put in each (the cap). Allocators then move money between those markets within the caps. How vaults work.
What the loans are backed by
Share of this vault's lending by the collateral borrowers put up
| WBTC | 77.3% |
|---|---|
| wstETH | 11.8% |
| sUSDS | 10.9% |
Returns over time
Net APY actually earned over each period, from the share price: after fees, without token rewards
| Last day | 3.92% |
|---|---|
| Last 7 days | 3.68% |
| Last 30 days | 2.92% |
| Last 90 days | 4.12% |
| Last year | 4.00% |
Who controls this vault
| Curator | Gauntlet |
|---|---|
| Owner | 0x5a4E…d4D04-of-7 multisig |
| Guardian | 0x7084…84cD |
| Timelock | 3 dayswait before risky changes take effect |
| Allocators | 2addresses that move money between markets |
| Created | July 14, 2025 |
Timelocks give depositors time to leave before a change they dislike takes effect. Morpho risks explained.
Details
| Deposit asset | USDCprice $0.9997 |
|---|---|
| Vault version | MetaMorpho (V1) |
| APY before fees | 6.29% |
| Public allocator | Onborrowers can pull liquidity between this vault's markets |
| Vault contract | 0x7e97…1E65 |
| USDC token | 0xaf88…5831 |
| Network | Arbitrum |
The curator's description: "The Gauntlet USDC Vault will list a selection of liquid collateral markets and allocate across them to optimize risk-adjusted yield. The Vaults risk strategy will follow the CORE framework where Gauntlet curates deposits to balance security and yield to provide a moderate risk profile and competitive APY for USDC suppliers"
Largest depositors
1,128 addresses hold shares in this vault
| Address | Deposit | Share of vault |
|---|---|---|
| 0xFE2c…AF6B | $46.1K | 12.4% |
| 0x9F10…D563 | $44.0K | 11.8% |
| 0xb462…Fc88 | $37.4K | 10.0% |
| 0x50Bd…2377 | $34.6K | 9.3% |
| 0xF82c…1487 | $32.3K | 8.7% |
| 0x0E01…E8dB | $27.8K | 7.4% |
| 0x5D3a…F914 | $25.9K | 6.9% |
| 0x514A…EAdE | $25.6K | 6.9% |
| 0x4E5c…6378 | $20.4K | 5.5% |
| 0xD232…81DD | $16.2K | 4.3% |
When a few addresses hold most of a vault, one large withdrawal can use up the liquidity that is free right now.
About Gauntlet USDC Core
Gauntlet USDC Core is a MetaMorpho vault (Morpho V1) on Arbitrum, created on July 14, 2025. It takes USDC deposits and lends them to borrowers in 3 Morpho markets. The curator, Gauntlet, decides which markets it may use and how much can go into each.
It holds $373K (373.20K USDC) from 1,128 depositors and pays a net APY of 5.64% after its 10% performance fee. Over the last 30 days depositors actually earned 2.92% a year, and 4.00% over the last year.
Its largest position is WBTC / USDC at 50% of its deposits, followed by sUSDS / USDC (39%) and wstETH / USDC (10%). Counting every market, its loans are backed mainly by WBTC (77%), wstETH (12%) and sUSDS (11%). 55% of deposits could be withdrawn right now.
Adding a market or raising how much can go into one waits behind a timelock of 3 days, which gives depositors time to leave first. The owner is a 4-of-7 multisig wallet. Morpho's app shows no warnings for this vault.
Gauntlet USDC Core: quick answers
What is the APY of Gauntlet USDC Core on Arbitrum?
Gauntlet USDC Core pays 5.64% net APY right now, after its fees. Measured from the growth of its share price, it paid 2.92% over the last 30 days. The rate changes every day with what its borrowers pay.
What does Gauntlet USDC Core lend against?
It lends USDC through 3 Morpho markets. The biggest is WBTC / USDC with 50% of its deposits. Overall its loans are backed mainly by WBTC (77%), wstETH (12%) and sUSDS (11%).
Can I withdraw from Gauntlet USDC Core right now?
About $203K of its $373K in deposits (55%) could be withdrawn immediately. The rest is lent out and frees up as borrowers repay or as higher rates bring in new lenders.
Who runs Gauntlet USDC Core and what does it charge?
Gauntlet curates it. It keeps 10% of the interest earned as a performance fee. The net APY shown is after these fees.
What are the risks of Gauntlet USDC Core?
Like every Morpho vault, it can lose money if a borrower's collateral crashes faster than it can be liquidated, if a price oracle fails, or through a smart contract bug. Withdrawals can wait when its markets are fully borrowed. Adding a market or raising a cap waits behind a timelock of 3 days. This is not advice.
Other USDC vaults
The same deposit asset, other curators and networks
