Flowdesk AUSD RWA StrategyV2
A Morpho V2 vault on Ethereum that lends out AUSD deposits, curated by Flowdesk. Depositors earn 5.09% a year right now after a 7.5% performance fee.
Data from Morpho's API · updated
Net APY
5.09%
after fees, paid to depositors
30-day APY
6.96%
7-day 5.60%
Deposits
$4.98M
4.98M AUSD
Withdrawable now
$565K
11% of deposits
Performance fee
7.5%
of the interest earned
Depositors
110
largest holds 59.7%
Flowdesk AUSD RWA Strategy 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 |
|---|---|---|
| sUSDai / AUSDLLTV 91.5% | $4.29M | 89.3% |
| sUSDat / AUSDLLTV 86% | $491K | 10.2% |
| syrupUSDC / AUSDLLTV 91.5% | $23.4K | 0.5% |
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
| sUSDai | 89.3% |
|---|---|
| sUSDat | 10.2% |
| syrupUSDC | 0.5% |
| wSPYx | 0.0% |
Returns over time
Net APY actually earned over each period, from the share price
| Last day | 5.25% |
|---|---|
| Last 7 days | 5.60% |
| Last 30 days | 6.96% |
| Since the vault started | 7.90% |
Who controls this vault
| Curator | Flowdesk |
|---|---|
| Owner | 0x3BDA…57eA |
| 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 | 3 days |
| Allocators | 2addresses that move money between markets |
| Sentinels | 3can pull money back or cut caps in an emergency |
| Created | March 16, 2026 |
Timelocks give depositors time to leave before a change they dislike takes effect. Morpho risks explained.
Details
| Deposit asset | AUSDprice $0.9999 |
|---|---|
| Vault version | Morpho Vault V2 |
| APY before fees | 5.51% |
| Vault contract | 0x3240…2F0C |
| AUSD token | 0x0000…012a |
| Network | Ethereum |
The curator's description: "Flowdesk AUSD RWA Strategy seeks to optimize yield by lending AUSD against a wide range of collateral. Users can also deposit Confidential AUSD cAUSD in batches via the Zama app at [app.zama.org](http://app.zama.org)"
Largest depositors
110 addresses hold shares in this vault
| Address | Deposit | Share of vault |
|---|---|---|
| 0x6fe8…8Aa3 | $2.97M | 59.7% |
| 0xC687…B369 | $1.21M | 24.2% |
| 0xbEeD…6dBA | $539K | 10.8% |
| 0x0416…a64B | $62.6K | 1.3% |
| 0xaB6a…3067 | $61.6K | 1.2% |
| 0xA817…78eC | $38.3K | 0.8% |
| 0xC414…2e49 | $26.6K | 0.5% |
| 0x7d35…6E16 | $11.1K | 0.2% |
| 0x78D0…0eBC | $8.4K | 0.2% |
| 0x372F…0c24 | $7.2K | 0.1% |
When a few addresses hold most of a vault, one large withdrawal can use up the liquidity that is free right now.
About Flowdesk AUSD RWA Strategy
Flowdesk AUSD RWA Strategy is a Morpho V2 vault on Ethereum, created on March 16, 2026. It takes AUSD deposits and lends them to borrowers in 3 Morpho markets. The curator, Flowdesk, decides which markets it may use and how much can go into each.
It holds $4.98M (4.98M AUSD) from 110 depositors and pays a net APY of 5.09% after its 7.5% performance fee. Over the last 30 days depositors actually earned 6.96% a year.
Its largest position is sUSDai / AUSD at 89% of what it lends, followed by sUSDat / AUSD (10%) and syrupUSDC / AUSD (0%). Counting every market, its loans are backed mainly by sUSDai (89%), sUSDat (10%) and syrupUSDC (0%). 11% 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. Morpho's app shows no warnings for this vault.
Flowdesk AUSD RWA Strategy: quick answers
What is the APY of Flowdesk AUSD RWA Strategy on Ethereum?
Flowdesk AUSD RWA Strategy pays 5.09% net APY right now, after its fees. Measured from the growth of its share price, it paid 6.96% over the last 30 days. The rate changes every day with what its borrowers pay.
What does Flowdesk AUSD RWA Strategy lend against?
It lends AUSD through 3 Morpho markets. The biggest is sUSDai / AUSD with 89% of its lending. Overall its loans are backed mainly by sUSDai (89%), sUSDat (10%) and syrupUSDC (0%).
Can I withdraw from Flowdesk AUSD RWA Strategy right now?
About $565K of its $4.98M in deposits (11%) 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 Flowdesk AUSD RWA Strategy and what does it charge?
Flowdesk curates it. It keeps 7.5% of the interest earned as a performance fee. The net APY shown is after these fees.
What are the risks of Flowdesk AUSD RWA Strategy?
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 AUSD vaults
The same deposit asset, other curators and networks
| Vault | Net APY |
|---|---|
| Bitwise Premium RWA AUSDV2Bitwise · Ethereum · $21.73M | 7.44%incl. 3.24% rewards |
| SharpByte AUSD Tori EcosystemV2SharpByte · Monad · $5.47M | 8.90%incl. 4.49% rewards |
| Clearstar Accountable AUSDV2Clearstar · Monad · $3.00M | 5.99%incl. 0.57% rewards |
| Y10k AUSD VaultV2Y10k Capital · Monad · $999K | 6.72%incl. 0.57% rewards |
| Steakhouse High Yield InstantV2Steakhouse Financial · Ethereum · $444K | 4.57% |
| Steakhouse High Yield AUSDV2Steakhouse Financial · Monad · $126K | 0.71%incl. 0.23% rewards |
| Grove x Steakhouse High Yield AUSDSteakhouse Financial · Monad · $108K | 1.89%incl. 0.57% rewards |
| Dialectic AUSD RWAV2Dialectic Meccanico · Ethereum · $101K | 4.37% |