Moonwell Frontier cbBTC V2 on Base
A Morpho V2 vault on Base that lends out cbBTC deposits, curated by Anthias Labs. Depositors earn 0.15% a year right now after a 15% performance fee.
Data from Morpho's API · updated
Net APY
0.15%
incl. 0.13% in rewards
30-day APY
0.02%
7-day 0.02%, from the share price
Deposits
$372K
5.18 cbBTC
Withdrawable now
$372K
100% of deposits
Performance fee
15%
of the interest earned
Depositors
618
largest holds 43.0%
Moonwell Frontier cbBTC V2 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 |
|---|---|---|
| Moonwell Frontier cbBTCanother vault · its markets are counted below | $372K | 100.0% |
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, including through the vaults it deposits into
| LBTC | 100.0% |
|---|
Returns over time
Net APY actually earned over each period, from the share price: after fees, without token rewards
| Last day | 0.02% |
|---|---|
| Last 7 days | 0.02% |
| Last 30 days | 0.02% |
| Last 90 days | 0.01% |
Who controls this vault
| Curator | Anthias Labs |
|---|---|
| Owner | 0x8b62…7d51 |
| Timelock to raise a cap | 7.1 dayswait before more can go into a market |
| Timelock to add an adapter | 7.1 dayswait before a new kind of investment |
| Timelock to raise fees | None |
| Allocators | 1addresses that move money between markets |
| Sentinels | 0can pull money back or cut caps in an emergency |
| Created | February 6, 2026 |
Timelocks give depositors time to leave before a change they dislike takes effect. Morpho risks explained.
Details
| Deposit asset | cbBTCprice $71.8K |
|---|---|
| Vault version | Morpho Vault V2 |
| APY before fees | 0.03% |
| Rewards | WELL 0.13% |
| Vault contract | 0xdbA7…F7A8 |
| cbBTC token | 0xcbB7…33Bf |
| Network | Base |
The curator's description: "The Moonwell Frontier cbBTC Vault curated by Anthias Labs is intended to optimize risk adjusted interest earned from BTC liquid restaking tokens as collateral. Unlike the more conservative Moonwell Flagship Vaults, Moonwell Frontier Vaults offer a higher risk reward opportunity for those interested in emerging Bitcoin derivative markets."
Largest depositors
618 addresses hold shares in this vault
| Address | Deposit | Share of vault |
|---|---|---|
| 0x9695…0308 | $160K | 43.0% |
| 0xD302…AAed | $40.0K | 10.7% |
| 0x7B5a…033F | $13.7K | 3.7% |
| 0x7FAF…c89E | $13.5K | 3.6% |
| 0x2D6A…3F5a | $11.9K | 3.2% |
| 0x0242…1AC3 | $11.0K | 3.0% |
| 0x873A…2272 | $10.5K | 2.8% |
| 0x5604…D09d | $9.7K | 2.6% |
| 0x063b…Be2c | $7.4K | 2.0% |
| 0xd44d…EE61 | $6.8K | 1.8% |
When a few addresses hold most of a vault, one large withdrawal can use up the liquidity that is free right now.
About Moonwell Frontier cbBTC V2
Moonwell Frontier cbBTC V2 is a Morpho V2 vault on Base, created on February 6, 2026. It takes cbBTC deposits and places them in another vault, which lends them out. The curator, Anthias Labs, decides which markets it may use and how much can go into each.
It holds $372K (5.18 cbBTC) from 618 depositors and pays a net APY of 0.15% after its 15% performance fee. Over the last 30 days depositors actually earned 0.02% a year. About 0.13% of today's rate comes from WELL rewards, which can stop at any time.
Adding a market or raising how much can go into one waits behind a timelock of 7.1 days, which gives depositors time to leave first. Morpho's app shows no warnings for this vault.
Moonwell Frontier cbBTC V2: quick answers
What is the APY of Moonwell Frontier cbBTC V2 on Base?
Moonwell Frontier cbBTC V2 pays 0.15% net APY right now, after its fees and including 0.13% of rewards. Measured from the growth of its share price, it paid 0.02% over the last 30 days. The rate changes every day with what its borrowers pay.
Can I withdraw from Moonwell Frontier cbBTC V2 right now?
Yes: all of its $372K in deposits could be withdrawn immediately, because the markets it lends to have enough unborrowed cbBTC left. That can change quickly when borrowing picks up.
Who runs Moonwell Frontier cbBTC V2 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 Frontier cbBTC V2?
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 7.1 days. This is not advice.
Other cbBTC vaults
The same deposit asset, other curators and networks
| Vault | Net APY |
|---|---|
| Hyperithm cbBTC ApexV2Hyperithm · Monad · $4.02M | 2.81% |
| Moonwell Frontier cbBTCAnthias Labs · Base · $1.02M | 0.15%incl. 0.13% rewards |
| Gauntlet cbBTC CoreGauntlet · Base · $299K | 0.19% |
