Gauntlet USDC Frontier on Base
⚠ Deposits switched offA Morpho vault on Base that lends out USDC deposits, curated by Gauntlet. Depositors earn 5.09% a year right now after a 10% performance fee.
Data from Morpho's API · updated
Net APY
5.09%
after fees, paid to depositors
30-day APY
5.53%
7-day 5.68%, from the share price
Deposits
$41.0K
41.02K USDC
Withdrawable now
$41.0K
100% of deposits
Performance fee
10%
of the interest earned
Depositors
473
largest holds 79.9%
Warnings from Morpho
- Deposits switched off
Morpho's app flags these. Check the bad debt page and the markets below before depositing.
Gauntlet USDC Frontier 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% | $58.3K | 39.2% |
| cbXRP / USDCLLTV 62.5% | $49.1K | 33.0% |
| cbADA / USDCLLTV 62.5% | $25.8K | 17.3% |
| cbDOGE / USDCLLTV 62.5% | $13.1K | 8.8% |
| cbETH / USDCLLTV 77% | $2.4K | 1.6% |
| Idle cashnot lent out | $31.00 | 0.0% |
| JitoSOL / USDCLLTV 62.5% | $19.00 | 0.0% |
| cbBTC / USDCLLTV 86% | $12.00 | <0.01% |
| cbETH / USDCLLTV 86% | $1.00 | <0.01% |
| SOL / USDCLLTV 62.5% | $0 | 0.0% |
| LBTC / USDCLLTV 86% | $0 | 0.0% |
| wstETH / USDCLLTV 86% · under $1,000, not tracked here | $0 | 0.0% |
| cbLTC / USDCLLTV 62.5% | $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
| cbXRP | 99.9% |
|---|
Returns over time
Net APY actually earned over each period, from the share price: after fees, without token rewards
| Last day | 5.07% |
|---|---|
| Last 7 days | 5.68% |
| Last 30 days | 5.53% |
| Last 90 days | 5.12% |
| Last year | 5.18% |
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 | April 30, 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 | 5.67% |
| Public allocator | Onborrowers can pull liquidity between this vault's markets |
| Vault contract | 0x2369…e890 |
| USDC token | 0x8335…2913 |
| Network | Base |
The curator's description: "The Gauntlet USDC Frontier Vault targets maximum yield by allocating to potentially higher volatility markets that may face liquidity risks in exchange for greater supplier returns."
Largest depositors
473 addresses hold shares in this vault
| Address | Deposit | Share of vault |
|---|---|---|
| 0xda29…c6da | $32.8K | 79.9% |
| 0x96E4…4d3E | $25.4K | 62.0% |
| 0x201D…10Bf | $10.6K | 25.9% |
| 0x55fc…47cb | $10.2K | 24.8% |
| 0xBf96…e7eb | $8.9K | 21.8% |
| 0x5aEd…cdAE | $8.9K | 21.7% |
| 0x97Df…d6c0 | $5.9K | 14.5% |
| 0x4bFE…E2FC | $5.3K | 12.9% |
| 0xeCd1…BBB5 | $4.7K | 11.4% |
| 0x8D98…F42e | $4.0K | 9.8% |
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 Frontier
Gauntlet USDC Frontier is a MetaMorpho vault (Morpho V1) on Base, created on April 30, 2025. It takes USDC deposits and lends them to borrowers in 8 Morpho markets. The curator, Gauntlet, decides which markets it may use and how much can go into each.
It holds $41.0K (41.02K USDC) from 473 depositors and pays a net APY of 5.09% after its 10% performance fee. Over the last 30 days depositors actually earned 5.53% a year, and 5.18% over the last year.
Its largest position is WETH / USDC at 39% of its deposits, followed by cbXRP / USDC (33%) and cbADA / USDC (17%). Counting every market, its loans are backed mainly by cbXRP (100%). 100% 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 a warning for this vault: deposits switched off.
Gauntlet USDC Frontier: quick answers
What is the APY of Gauntlet USDC Frontier on Base?
Gauntlet USDC Frontier pays 5.09% net APY right now, after its fees. Measured from the growth of its share price, it paid 5.53% over the last 30 days. The rate changes every day with what its borrowers pay.
What does Gauntlet USDC Frontier lend against?
It lends USDC through 8 Morpho markets. The biggest is WETH / USDC with 39% of its deposits. Overall its loans are backed mainly by cbXRP (100%).
Can I withdraw from Gauntlet USDC Frontier right now?
Yes: all of its $41.0K in deposits could be withdrawn immediately, because the markets it lends to have enough unborrowed USDC left. That can change quickly when borrowing picks up.
Who runs Gauntlet USDC Frontier 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 Frontier?
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. Morpho's app flags: deposits switched off. This is not advice.
Other USDC vaults
The same deposit asset, other curators and networks
