Gauntlet WETH BalancedV2
A Morpho V2 vault on Base that lends out WETH deposits, curated by Gauntlet. Depositors earn 1.55% a year right now after a 0% performance fee.
Data from Morpho's API · updated
Net APY
1.55%
after fees, paid to depositors
30-day APY
1.71%
7-day 1.57%
Deposits
$2.07M
768.90 WETH
Withdrawable now
$904K
44% of deposits
Performance fee
0%
of the interest earned
Depositors
598
largest holds 15.7%
Gauntlet WETH Balanced APY history
Net APY earned each day, measured from the vault's share price
| Day | Deposits | Net APY |
|---|
Deposits over time
Where the money goes
The markets this vault lends to right now, largest first
| Market | Lent | Share |
|---|---|---|
| cbETH / WETHLLTV 94.5% | $907K | 43.8% |
| wstETH / WETHLLTV 94.5% | $504K | 24.3% |
| weETH / WETHLLTV 91.5% | $477K | 23.1% |
| wstETH / WETHLLTV 96.5% | $144K | 7.0% |
| wsuperOETHb / WETHLLTV 91.5% | $37.3K | 1.8% |
| cbBTC / WETHLLTV 91.5% | $602 | 0.0% |
| cbETH / WETHLLTV 96.5% | $288 | 0.0% |
| weETH / WETHLLTV 94.5% | $3.00 | <0.01% |
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 | 31.3% |
| weETH | 23.1% |
| wsuperOETHb | 1.8% |
| cbBTC | 0.0% |
Returns over time
Net APY actually earned over each period, from the share price
| Last day | 1.55% |
|---|---|
| Last 7 days | 1.57% |
| Last 30 days | 1.71% |
| Since the vault started | 1.99% |
Who controls this vault
| Curator | Gauntlet |
|---|---|
| Owner | 0x5a4E…d4D04-of-7 multisig |
| Timelock to raise a cap | 3 dayswait before more can go into a market |
| Timelock to add an adapter | 3 dayswait before a new kind of investment |
| Timelock to raise fees | 1 day |
| Allocators | 2addresses that move money between markets |
| Sentinels | 2can pull money back or cut caps in an emergency |
| Created | October 22, 2025 |
Timelocks give depositors time to leave before a change they dislike takes effect. Morpho risks explained.
Details
| Deposit asset | WETHprice $2.7K |
|---|---|
| Vault version | Morpho Vault V2 |
| APY before fees | 1.55% |
| Vault contract | 0xFeFe…ff08 |
| WETH token | 0x4200…0006 |
| Network | Base |
The curator's description: "The Gauntlet WETH Balanced vault aims to optimize for risk-adjusted yield across large and medium market cap assets and high liquidity yield sources. The vaults risk strategy follows Gauntlets Balanced framework whereby we curate supply to balance security and yield to provide a low risk profile at competitive APYs."
Largest depositors
598 addresses hold shares in this vault
| Address | Deposit | Share of vault |
|---|---|---|
| 0x3405…B8e5 | $325K | 15.7% |
| 0x00ce…0B4E | $323K | 15.6% |
| 0x2787…Eb6A | $296K | 14.3% |
| 0xb5FD…d1f3 | $213K | 10.3% |
| 0x850A…eFb3 | $118K | 5.7% |
| 0xe496…771a | $88.1K | 4.3% |
| 0x2aF2…3161 | $59.7K | 2.9% |
| 0xe20b…e53B | $54.7K | 2.6% |
| 0x9328…97aA | $53.8K | 2.6% |
| 0x0742…B6ef | $33.5K | 1.6% |
When a few addresses hold most of a vault, one large withdrawal can use up the liquidity that is free right now.
About Gauntlet WETH Balanced
Gauntlet WETH Balanced is a Morpho V2 vault on Base, created on October 22, 2025. It takes WETH 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 $2.07M (768.90 WETH) from 598 depositors and pays a net APY of 1.55% after its 0% performance fee. Over the last 30 days depositors actually earned 1.71% a year.
Its largest position is cbETH / WETH at 44% of what it lends, followed by wstETH / WETH (24%) and weETH / WETH (23%). Counting every market, its loans are backed mainly by cbETH (44%), wstETH (31%) and weETH (23%). 44% of deposits could be withdrawn right now.
Risky changes, such as adding a market, wait behind a 3-day timelock on raising caps, 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 WETH Balanced: quick answers
What is the APY of Gauntlet WETH Balanced on Base?
Gauntlet WETH Balanced pays 1.55% net APY right now, after its fees. Measured from the growth of its share price, it paid 1.71% over the last 30 days. The rate changes every day with what its borrowers pay.
What does Gauntlet WETH Balanced lend against?
It lends WETH through 8 Morpho markets. The biggest is cbETH / WETH with 44% of its lending. Overall its loans are backed mainly by cbETH (44%), wstETH (31%) and weETH (23%).
Can I withdraw from Gauntlet WETH Balanced right now?
About $904K of its $2.07M in deposits (44%) 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 WETH Balanced and what does it charge?
Gauntlet curates it. It keeps 0% of the interest earned as a performance fee. The net APY shown is after these fees.
What are the risks of Gauntlet WETH Balanced?
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. Changes to it wait behind a 3-day timelock on raising caps. This is not advice.
Other WETH vaults
The same deposit asset, other curators and networks
| Vault | Net APY |
|---|---|
| Steakhouse Prime ETHV2Steakhouse Financial · Monad · $45.77M | 2.88%incl. 1.50% rewards |
| Steakhouse ETHSteakhouse Financial · Ethereum · $31.21M | 1.84% |
| Gauntlet WETH PrimeV2Gauntlet · Ethereum · $26.24M | 1.71% |
| Steakhouse Prime ETHV2Steakhouse Financial · Ethereum · $21.33M | 1.87% |
| Vault Bridge WETHGauntlet · Ethereum · $17.36M | 1.65% |
| Uniswap ETHV2Gauntlet · Ethereum · $10.45M | 1.90% |
| Gauntlet WETH PrimeGauntlet · Ethereum · $8.72M | 1.82% |
| Clearstar Core ETHV2Clearstar · Base · $8.53M | 3.50%incl. 2.00% rewards |