Gauntlet USDC Core on Ethereum
A Morpho vault on Ethereum that lends out USDC deposits, curated by Gauntlet. Depositors earn 5.51% a year right now after a 5% performance fee.
Data from Morpho's API · updated
Net APY
5.51%
after fees, paid to depositors
30-day APY
5.11%
7-day 5.99%, from the share price
Deposits
$3.55M
3.55M USDC
Withdrawable now
$2.56M
72% of deposits
Performance fee
5%
of the interest earned
Depositors
310
largest holds 54.0%
Gauntlet USDC Core 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 |
|---|---|---|
| cbBTC / USDCLLTV 86% | $1.26M | 36.2% |
| tBTC / USDCLLTV 77% | $712K | 20.4% |
| weETH / USDCLLTV 86% | $536K | 15.4% |
| WBTC / USDCLLTV 86% | $502K | 14.4% |
| LBTC / USDCLLTV 86% | $450K | 12.9% |
| syrupUSDC / USDCLLTV 91.5% | $24.4K | 0.7% |
| AA_FalconXUSDC / USDCLLTV 77% | $0 | 0.0% |
| weETH / USDCLLTV 77% | $0 | 0.0% |
| 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
| cbBTC | 45.9% |
|---|---|
| tBTC | 18.1% |
| LBTC | 12.8% |
| weETH | 12.1% |
| WBTC | 10.7% |
| syrupUSDC | 0.4% |
Returns over time
Net APY actually earned over each period, from the share price: after fees, without token rewards
| Last day | 5.14% |
|---|---|
| Last 7 days | 5.99% |
| Last 30 days | 5.11% |
| Last 90 days | 4.50% |
| Last year | -26.12% |
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 |
| Created | May 1, 2024 |
Timelocks give depositors time to leave before a change they dislike takes effect. Morpho risks explained.
Details
| Deposit asset | USDCprice $0.9997 |
|---|---|
| Vault version | MetaMorpho (V1) |
| APY before fees | 5.81% |
| Public allocator | Onborrowers can pull liquidity between this vault's markets |
| Vault contract | 0x8eB6…d458 |
| USDC token | 0xA0b8…eB48 |
| Network | Ethereum |
The curator's description: "The USDC Core Vault will list a range of liquid collateral markets and continuously optimize risk-adjusted yield across those markets. This vault targets a higher risk level than Gauntlet's Prime Vaults."
Largest depositors
310 addresses hold shares in this vault
| Address | Deposit | Share of vault |
|---|---|---|
| 0x5a76…9Eea | $1.92M | 54.0% |
| 0x075E…E99A | $768K | 21.6% |
| 0x7818…784A | $149K | 4.2% |
| 0x3e90…1812 | $136K | 3.8% |
| 0xD895…Cec8 | $116K | 3.3% |
| 0xC13F…fFb3 | $79.9K | 2.3% |
| 0x00A8…4eD7 | $53.8K | 1.5% |
| 0x7689…3520 | $36.4K | 1.0% |
| 0xd551…1c0c | $32.6K | 0.9% |
| 0xd742…2d0C | $21.9K | 0.6% |
When a few addresses hold most of a vault, one large withdrawal can use up the liquidity that is free right now.
About Gauntlet USDC Core
Gauntlet USDC Core is a MetaMorpho vault (Morpho V1) on Ethereum, created on May 1, 2024. It takes USDC deposits and lends them to borrowers in 6 Morpho markets. The curator, Gauntlet, decides which markets it may use and how much can go into each.
It holds $3.55M (3.55M USDC) from 310 depositors and pays a net APY of 5.51% after its 5% performance fee. Over the last 30 days depositors actually earned 5.11% a year, and -26.12% over the last year.
Its largest position is cbBTC / USDC at 36% of its deposits, followed by tBTC / USDC (20%) and weETH / USDC (15%). Counting every market, its loans are backed mainly by cbBTC (46%), tBTC (18%) and LBTC (13%). 72% 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-7 multisig wallet. Morpho's app shows no warnings for this vault.
Gauntlet USDC Core: quick answers
What is the APY of Gauntlet USDC Core on Ethereum?
Gauntlet USDC Core pays 5.51% net APY right now, after its fees. Measured from the growth of its share price, it paid 5.11% over the last 30 days. The rate changes every day with what its borrowers pay.
What does Gauntlet USDC Core lend against?
It lends USDC through 6 Morpho markets. The biggest is cbBTC / USDC with 36% of its deposits. Overall its loans are backed mainly by cbBTC (46%), tBTC (18%) and LBTC (13%).
Can I withdraw from Gauntlet USDC Core right now?
About $2.56M of its $3.55M in deposits (72%) 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 USDC Core and what does it charge?
Gauntlet curates it. It keeps 5% of the interest earned as a performance fee. The net APY shown is after these fees.
What are the risks of Gauntlet USDC 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. Adding a market or raising a cap waits behind a timelock of 3 days. This is not advice.
Other USDC vaults
The same deposit asset, other curators and networks
