Gauntlet eUSD Core⚠ Deposit disabled
A Morpho vault on Ethereum that lends out eUSD deposits, curated by Gauntlet. Depositors earn 2.96% a year right now after a 10% performance fee.
Data from Morpho's API · updated
Net APY
2.96%
after fees, paid to depositors
30-day APY
3.19%
7-day 3.06%
Deposits
$432K
432.50K eUSD
Withdrawable now
$45.5K
11% of deposits
Performance fee
10%
of the interest earned
Depositors
54
largest holds 76.0%
Warnings from Morpho
- Deposit disabled
Morpho's app flags these. Check the bad debt page and the markets below before depositing.
Gauntlet eUSD Core 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 |
|---|---|---|
| WBTC / eUSDLLTV 86% | $429K | 99.5% |
| wstETH / eUSDLLTV 86% | $2.2K | 0.5% |
| Idle cashnot lent out | $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
| WBTC | 99.5% |
|---|---|
| wstETH | 0.5% |
| Other | 0.0% |
Returns over time
Net APY actually earned over each period, from the share price
| Last day | 3.61% |
|---|---|
| Last 7 days | 3.06% |
| Last 30 days | 3.19% |
| Last year | 3.14% |
| Since the vault started | 3.13% |
Who controls this vault
| Curator | Gauntlet |
|---|---|
| Owner | 0xC684…fAec4-of-7 multisig |
| Guardian | 0x7084…84cD |
| Timelock | 3 dayswait before risky changes take effect |
| Allocators | 2addresses that move money between markets |
| Pending changes | 1RemoveMarket from April 4, 2026 |
| Created | July 16, 2024 |
Timelocks give depositors time to leave before a change they dislike takes effect. Morpho risks explained.
Details
| Deposit asset | eUSDprice $0.9998 |
|---|---|
| Vault version | MetaMorpho (V1) |
| APY before fees | 3.29% |
| Public allocator | Onborrowers can pull liquidity between this vault's markets |
| Vault contract | 0xc080…E014 |
| eUSD token | 0xA0d6…482F |
| Network | Ethereum |
The curator's description: "The eUSD Vault will list a range of liquid collateral markets and continuously optimize risk-adjusted yield across those collateral markets."
Largest depositors
54 addresses hold shares in this vault
| Address | Deposit | Share of vault |
|---|---|---|
| 0x21aa…b7e2 | $329K | 76.0% |
| 0x9cD4…A5aE | $21.0K | 4.8% |
| 0x7F3b…eC30 | $20.8K | 4.8% |
| 0x7333…6B77 | $15.1K | 3.5% |
| 0xBd22…60e6 | $14.0K | 3.2% |
| 0x7921…181E | $12.2K | 2.8% |
| 0x3ae2…7C59 | $5.2K | 1.2% |
| 0x6161…ED49 | $5.1K | 1.2% |
| 0x8FFc…d3b6 | $2.4K | 0.6% |
| 0x4fdC…feF1 | $2.1K | 0.5% |
When a few addresses hold most of a vault, one large withdrawal can use up the liquidity that is free right now.
About Gauntlet eUSD Core
Gauntlet eUSD Core is a MetaMorpho vault (Morpho V1) on Ethereum, created on July 16, 2024. It takes eUSD deposits and lends them to borrowers in 2 Morpho markets. The curator, Gauntlet, decides which markets it may use and how much can go into each.
It holds $432K (432.50K eUSD) from 54 depositors and pays a net APY of 2.96% after its 10% performance fee. Over the last 30 days depositors actually earned 3.19% a year, and 3.14% over the last year.
Its largest position is WBTC / eUSD at 99% of what it lends, followed by wstETH / eUSD (1%). Counting every market, its loans are backed mainly by WBTC (99%) and wstETH (1%). 11% of deposits could be withdrawn right now.
Risky changes, such as adding a market, wait behind a 3-day timelock, which gives depositors time to leave first. The owner is a 4-of-7 multisig wallet. Morpho's app shows a warning for this vault: deposit disabled.
Gauntlet eUSD Core: quick answers
What is the APY of Gauntlet eUSD Core on Ethereum?
Gauntlet eUSD Core pays 2.96% net APY right now, after its fees. Measured from the growth of its share price, it paid 3.19% over the last 30 days. The rate changes every day with what its borrowers pay.
What does Gauntlet eUSD Core lend against?
It lends eUSD through 2 Morpho markets. The biggest is WBTC / eUSD with 99% of its lending. Overall its loans are backed mainly by WBTC (99%) and wstETH (1%).
Can I withdraw from Gauntlet eUSD Core right now?
About $45.5K of its $432K 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 Gauntlet eUSD Core and what does it charge?
Gauntlet 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 Gauntlet eUSD Core?
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. Morpho's app flags: deposit disabled. This is not advice.
