Moonwell Frontier cbBTC on Base
A Morpho 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
$1.02M
14.18 cbBTC
Withdrawable now
$680K
67% of deposits
Performance fee
15%
of the interest earned
Depositors
995
largest holds 37.3%
Moonwell Frontier cbBTC 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 |
|---|---|---|
| Idle cashnot lent out | $792K | 55.0% |
| LBTC / cbBTCLLTV 91.5% | $648K | 45.0% |
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
| LBTC | 100.0% |
|---|
Returns over time
Net APY actually earned over each period, from the share price: after fees, without token rewards
| Last day | 0.03% |
|---|---|
| Last 7 days | 0.02% |
| Last 30 days | 0.02% |
| Last 90 days | 0.01% |
| Last year | <0.01% |
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 |
| Pending changes | 1SetGuardian from October 30, 2026 |
| Created | November 26, 2024 |
Timelocks give depositors time to leave before a change they dislike takes effect. Morpho risks explained.
Details
| Deposit asset | cbBTCprice $71.8K |
|---|---|
| Vault version | MetaMorpho (V1) |
| APY before fees | 0.03% |
| Rewards | WELL 0.13% |
| Public allocator | Onborrowers can pull liquidity between this vault's markets |
| Vault contract | 0x5432…a796 |
| cbBTC token | 0xcbB7…33Bf |
| Network | Base |
The curator's description: "The Moonwell Frontier cbBTC Morpho vault curated by Anthias Labs is intended to optimize risk-adjusted interest earned from BTC liquid restaking tokens as collateral."
Largest depositors
995 addresses hold shares in this vault
| Address | Deposit | Share of vault |
|---|---|---|
| 0x996E…8A2E | $380K | 37.3% |
| 0xB6A8…DF4e | $329K | 32.4% |
| 0x2ea5…9E0D | $85.4K | 8.4% |
| 0xE3c7…5c60 | $62.1K | 6.1% |
| 0xf78E…bD39 | $49.1K | 4.8% |
| 0x892B…8fd5 | $48.7K | 4.8% |
| 0xF95B…82A7 | $21.1K | 2.1% |
| 0x00B2…5343 | $18.4K | 1.8% |
| 0xEFEc…8Fe7 | $16.3K | 1.6% |
| 0x528C…2611 | $15.8K | 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 Moonwell Frontier cbBTC
Moonwell Frontier cbBTC is a MetaMorpho vault (Morpho V1) on Base, created on November 26, 2024. It takes cbBTC deposits and lends them to borrowers in 1 Morpho market. The curator, Anthias Labs, decides which markets it may use and how much can go into each.
It holds $1.02M (14.18 cbBTC) from 995 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, and 0.01% over the last year. About 0.13% of today's rate comes from WELL rewards, which can stop at any time.
Its largest position is LBTC / cbBTC at 45% of its deposits. 55% sits idle, not lent out. Counting every market, its loans are backed mainly by LBTC (100%). 67% of deposits could be withdrawn right now.
Adding a market or raising how much can go into one waits behind a timelock of 4 days, which gives depositors time to leave first. Morpho's app shows no warnings for this vault.
Moonwell Frontier cbBTC: quick answers
What is the APY of Moonwell Frontier cbBTC on Base?
Moonwell Frontier cbBTC 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.
What does Moonwell Frontier cbBTC lend against?
It lends cbBTC through 1 Morpho market. The biggest is LBTC / cbBTC with 45% of its deposits. 55% sits idle. Overall its loans are backed mainly by LBTC (100%).
Can I withdraw from Moonwell Frontier cbBTC right now?
About $680K of its $1.02M in deposits (67%) 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 Frontier cbBTC 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?
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 4 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 cbBTCV2Anthias Labs · Base · $372K | 0.15%incl. 0.13% rewards |
| Gauntlet cbBTC CoreGauntlet · Base · $299K | 0.19% |
