Moonwell Flagship ETH
A Morpho vault on Base that lends out WETH deposits, curated by Anthias Labs. Depositors earn 1.60% a year right now after a 15% performance fee.
Data from Morpho's API · updated
Net APY
1.60%
incl. 0.12% in rewards
30-day APY
1.41%
7-day 1.43%
Deposits
$4.30M
1.60K WETH
Withdrawable now
$1.22M
28% of deposits
Performance fee
15%
of the interest earned
Depositors
75,188
largest holds 32.7%
Moonwell Flagship ETH 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 |
|---|---|---|
| wstETH / WETHLLTV 94.5% | $2.43M | 56.5% |
| weETH / WETHLLTV 94.5% | $1.43M | 33.3% |
| Idle cashnot lent out | $228K | 5.3% |
| rETH / WETHLLTV 94.5% | $109K | 2.5% |
| cbETH / WETHLLTV 94.5% | $61.1K | 1.4% |
| USDC / WETHLLTV 86% | $43.8K | 1.0% |
| cbBTC / WETHLLTV 91.5% | $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
| wstETH | 56.5% |
|---|---|
| weETH | 33.3% |
| Other | 5.3% |
| rETH | 2.5% |
| cbETH | 1.4% |
| USDC | 1.0% |
| cbBTC | 0.0% |
Returns over time
Net APY actually earned over each period, from the share price
| Last day | 1.61% |
|---|---|
| Last 7 days | 1.43% |
| Last 30 days | 1.41% |
| Last year | 1.69% |
| Since the vault started | 1.54% |
Who controls this vault
| Curator | Anthias Labs |
|---|---|
| Owner | 0x8b62…7d51 |
| Guardian | 0xB9d4…AB38 |
| Timelock | 4 dayswait before risky changes take effect |
| Allocators | 1addresses that move money between markets |
| Created | June 10, 2024 |
Timelocks give depositors time to leave before a change they dislike takes effect. Morpho risks explained.
Details
| Deposit asset | WETHprice $2.7K |
|---|---|
| Vault version | MetaMorpho (V1) |
| APY before fees | 1.75% |
| Rewards | WELL 0.12% |
| Public allocator | Onborrowers can pull liquidity between this vault's markets |
| Vault contract | 0xa0E4…0ff1 |
| WETH token | 0x4200…0006 |
| Network | Base |
The curator's description: "The Moonwell Flagship ETH Morpho vault curated by Anthias Labs is intended to optimize risk-adjusted interest earned from blue-chip collateral markets."
Largest depositors
75,188 addresses hold shares in this vault
| Address | Deposit | Share of vault |
|---|---|---|
| 0x93D9…2461 | $1.41M | 32.7% |
| 0xA991…840E | $431K | 10.0% |
| 0x5630…1586 | $269K | 6.3% |
| 0x1B5C…F61a | $192K | 4.5% |
| 0xabCf…664f | $168K | 3.9% |
| 0x63cf…1b83 | $125K | 2.9% |
| 0xc1A7…bE4e | $97.2K | 2.3% |
| 0xF685…7308 | $93.5K | 2.2% |
| 0xeC53…A5Ce | $82.2K | 1.9% |
| 0xf18a…2d86 | $61.7K | 1.4% |
When a few addresses hold most of a vault, one large withdrawal can use up the liquidity that is free right now.
About Moonwell Flagship ETH
Moonwell Flagship ETH is a MetaMorpho vault (Morpho V1) on Base, created on June 10, 2024. It takes WETH deposits and lends them to borrowers in 5 Morpho markets. The curator, Anthias Labs, decides which markets it may use and how much can go into each.
It holds $4.30M (1.60K WETH) from 75,188 depositors and pays a net APY of 1.60% after its 15% performance fee. Over the last 30 days depositors actually earned 1.41% a year, and 1.69% over the last year. About 0.12% of today's rate comes from WELL rewards, which can stop at any time.
Its largest position is wstETH / WETH at 56% of what it lends, followed by weETH / WETH (33%) and rETH / WETH (3%). Counting every market, its loans are backed mainly by wstETH (56%), weETH (33%) and Other (5%). 28% of deposits could be withdrawn right now.
Risky changes, such as adding a market, wait behind a 4-day timelock, which gives depositors time to leave first. Morpho's app shows no warnings for this vault.
Moonwell Flagship ETH: quick answers
What is the APY of Moonwell Flagship ETH on Base?
Moonwell Flagship ETH pays 1.60% net APY right now, after its fees and including 0.12% of rewards. Measured from the growth of its share price, it paid 1.41% over the last 30 days. The rate changes every day with what its borrowers pay.
What does Moonwell Flagship ETH lend against?
It lends WETH through 5 Morpho markets. The biggest is wstETH / WETH with 56% of its lending. Overall its loans are backed mainly by wstETH (56%), weETH (33%) and Other (5%).
Can I withdraw from Moonwell Flagship ETH right now?
About $1.22M of its $4.30M in deposits (28%) 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 Moonwell Flagship ETH and what does it charge?
Anthias Labs curates it. It keeps 15% of the interest earned as a performance fee. The net APY shown is after these fees.
What are the risks of Moonwell Flagship ETH?
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 4-day timelock. 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 |