Gauntlet USDC Core on Base
A Morpho vault on Base that lends out USDC deposits, curated by Gauntlet. Depositors earn 4.16% a year right now after a 10% performance fee.
Data from Morpho's API · updated
Net APY
4.16%
after fees, paid to depositors
30-day APY
4.71%
7-day 4.94%, from the share price
Deposits
$1.88M
1.88M USDC
Withdrawable now
$1.74M
93% of deposits
Performance fee
10%
of the interest earned
Depositors
919
largest holds 52.1%
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 |
|---|---|---|
| WETH / USDCLLTV 86% | $1.61M | 91.1% |
| cbBTC / USDCLLTV 86% | $80.6K | 4.6% |
| LBTC / USDCLLTV 86% | $49.6K | 2.8% |
| weETH / USDCLLTV 77% | $14.9K | 0.8% |
| cbETH / USDCLLTV 86% | $12.6K | 0.7% |
| cbETH / USDCLLTV 77% | $164 | <0.01% |
| wstETH / USDCLLTV 86% | $34.00 | <0.01% |
| Idle cashnot lent out | $0 | 0.0% |
| cbETH / USDCLLTV 86% | $0 | 0.0% |
| wstETH / USDCLLTV 86% · under $1,000, not tracked here | $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
| cbETH | 43.8% |
|---|---|
| wstETH | 23.9% |
| WETH | 18.3% |
| cbBTC | 10.7% |
| LBTC | 2.5% |
| weETH | 0.8% |
Returns over time
Net APY actually earned over each period, from the share price: after fees, without token rewards
| Last day | 4.22% |
|---|---|
| Last 7 days | 4.94% |
| Last 30 days | 4.71% |
| Last 90 days | 4.02% |
| Last year | 4.15% |
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 | June 3, 2024 |
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 | 4.63% |
| Public allocator | Onborrowers can pull liquidity between this vault's markets |
| Vault contract | 0xc0c5…Eb12 |
| USDC token | 0x8335…2913 |
| Network | Base |
The curator's description: "The USDC Core Vault will list a range of liquid collateral markets and continuously optimize risk-adjusted yield across those markets. This vault targets a higher risk level than Gauntlet's Prime Vaults."
Largest depositors
919 addresses hold shares in this vault
| Address | Deposit | Share of vault |
|---|---|---|
| 0x8168…3CA9 | $976K | 52.1% |
| 0x8896…cd4C | $361K | 19.2% |
| 0x7A1D…8573 | $227K | 12.1% |
| 0xB8F6…3F26 | $43.2K | 2.3% |
| 0x4eEC…2617 | $36.6K | 2.0% |
| 0x1ACa…20FB | $28.7K | 1.5% |
| 0x0Ca9…0868 | $10.9K | 0.6% |
| 0x0a34…61EF | $10.2K | 0.5% |
| 0x0de3…e2d2 | $7.2K | 0.4% |
| 0xD529…8aAf | $6.4K | 0.3% |
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 Base, created on June 3, 2024. It takes USDC deposits and lends them to borrowers in 7 Morpho markets. The curator, Gauntlet, decides which markets it may use and how much can go into each.
It holds $1.88M (1.88M USDC) from 919 depositors and pays a net APY of 4.16% after its 10% performance fee. Over the last 30 days depositors actually earned 4.71% a year, and 4.15% over the last year.
Its largest position is WETH / USDC at 91% of its deposits, followed by cbBTC / USDC (5%) and LBTC / USDC (3%). Counting every market, its loans are backed mainly by cbETH (44%), wstETH (24%) and WETH (18%). 93% 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 Base?
Gauntlet USDC Core pays 4.16% net APY right now, after its fees. Measured from the growth of its share price, it paid 4.71% 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 7 Morpho markets. The biggest is WETH / USDC with 91% of its deposits. Overall its loans are backed mainly by cbETH (44%), wstETH (24%) and WETH (18%).
Can I withdraw from Gauntlet USDC Core right now?
About $1.74M of its $1.88M in deposits (93%) 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
