Belem RWA EURCV on Ethereum
V2A Morpho V2 vault on Ethereum that lends out EURCV deposits, curated by RockawayX. Depositors earn 5.65% a year right now after a 10% performance fee.
Data from Morpho's API · updated
Net APY
5.65%
after fees, paid to depositors
30-day APY
4.15%
7-day 5.41%, from the share price
Deposits
$5.65M
5.12M EURCV
Withdrawable now
$664K
12% of deposits
Performance fee
10%
of the interest earned
Depositors
4
largest holds 92.4%
Belem RWA EURCV 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 |
|---|---|---|
| mGLOeuro / EURCVLLTV 77% | $2.83M | 53.9% |
| mGLOeuro / EURCVLLTV 91.5% · under $1,000, not tracked here | $2.42M | 46.1% |
| oTFYe / EURCVLLTV 77% · under $1,000, not tracked here | $1.00 | <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
| mGLOeuro | 100.0% |
|---|
Returns over time
Net APY actually earned over each period, from the share price: after fees, without token rewards
| Last day | 5.65% |
|---|---|
| Last 7 days | 5.41% |
| Last 30 days | 4.15% |
Who controls this vault
| Curator | RockawayX |
|---|---|
| Owner | 0xbBac…f9184-of-8 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 | None |
| Allocators | 2addresses that move money between markets |
| Sentinels | 1can pull money back or cut caps in an emergency |
| Created | August 31, 2026 |
Timelocks give depositors time to leave before a change they dislike takes effect. Morpho risks explained.
Details
| Deposit asset | EURCVprice $1.1047 |
|---|---|
| Vault version | Morpho Vault V2 |
| APY before fees | 6.30% |
| Vault contract | 0xD6d4…48Ec |
| EURCV token | 0x5F78…5Ff2 |
| Network | Ethereum |
The curator's description: "The Belem RWA EURCV vault allocates EURCV across curated Real World Asset-backed Morpho markets capturing elevated yield from leveraged borrowing demand"
Largest depositors
4 addresses hold shares in this vault
| Address | Deposit | Share of vault |
|---|---|---|
| 0x4F87…0545 | $5.22M | 92.4% |
| 0xb7B8…26D7 | $27.9K | 0.5% |
| 0x4E65…b646 | $1.2K | 0.0% |
| 0x0000…dEaD | $1.00 | <0.01% |
When a few addresses hold most of a vault, one large withdrawal can use up the liquidity that is free right now.
About Belem RWA EURCV
Belem RWA EURCV is a Morpho V2 vault on Ethereum, created on August 31, 2026. It takes EURCV deposits and lends them to borrowers in 3 Morpho markets. The curator, RockawayX, decides which markets it may use and how much can go into each.
It holds $5.65M (5.12M EURCV) from 4 depositors and pays a net APY of 5.65% after its 10% performance fee. Over the last 30 days depositors actually earned 4.15% a year.
Its largest position is mGLOeuro / EURCV at 54% of its deposits, followed by mGLOeuro / EURCV (46%) and oTFYe / EURCV (<0.01%). Counting every market, its loans are backed mainly by mGLOeuro (100%). 12% 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-8 multisig wallet. Morpho's app shows no warnings for this vault.
Belem RWA EURCV: quick answers
What is the APY of Belem RWA EURCV on Ethereum?
Belem RWA EURCV pays 5.65% net APY right now, after its fees. Measured from the growth of its share price, it paid 4.15% over the last 30 days. The rate changes every day with what its borrowers pay.
What does Belem RWA EURCV lend against?
It lends EURCV through 3 Morpho markets. The biggest is mGLOeuro / EURCV with 54% of its deposits. Overall its loans are backed mainly by mGLOeuro (100%).
Can I withdraw from Belem RWA EURCV right now?
About $664K of its $5.65M in deposits (12%) 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 Belem RWA EURCV and what does it charge?
RockawayX 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 Belem RWA EURCV?
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. This is not advice.
Other EURCV vaults
The same deposit asset, other curators and networks
| Vault | Net APY |
|---|---|
| Steakhouse Prime EURCVV2Steakhouse Financial · Ethereum · $158.6M | 3.00% |
