Gauntlet WETH Prime V2 on Ethereum
A Morpho V2 vault on Ethereum that lends out WETH deposits, curated by Gauntlet. Depositors earn 2.97% a year right now after a 0% performance fee.
Data from Morpho's API · updated
Net APY
2.97%
after fees, paid to depositors
30-day APY
2.03%
7-day 1.91%, from the share price
Deposits
$19.85M
9.85K WETH
Withdrawable now
$19.5K
0% of deposits
Performance fee
0%
of the interest earned
Depositors
824
largest holds 43.2%
Gauntlet WETH Prime V2 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 |
|---|---|---|
| wstETH / WETHLLTV 96.5% | $10.85M | 49.4% |
| wstETH / WETHLLTV 94.5% | $9.27M | 42.2% |
| weETH / WETHLLTV 94.5% | $1.83M | 8.3% |
| Idle cashnot lent out | $13.2K | 0.1% |
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
| wstETH | 95.1% |
|---|---|
| weETH | 4.9% |
Returns over time
Net APY actually earned over each period, from the share price: after fees, without token rewards
| Last day | 2.02% |
|---|---|
| Last 7 days | 1.91% |
| Last 30 days | 2.03% |
| Last 90 days | 1.82% |
| Last year | 1.89% |
Who controls this vault
| Curator | Gauntlet |
|---|---|
| Owner | 0xC684…fAec4-of-7 multisig |
| Timelock to raise a cap | 7 dayswait before more can go into a market |
| Timelock to add an adapter | 7 dayswait before a new kind of investment |
| Timelock to raise fees | 3 days |
| Allocators | 2addresses that move money between markets |
| Sentinels | 2can pull money back or cut caps in an emergency |
| Created | October 1, 2025 |
Timelocks give depositors time to leave before a change they dislike takes effect. Morpho risks explained.
Details
| Deposit asset | WETHprice $2.0K |
|---|---|
| Vault version | Morpho Vault V2 |
| APY before fees | 2.97% |
| Vault contract | 0x43fC…92da |
| WETH token | 0xC02a…6Cc2 |
| Network | Ethereum |
The curator's description: "The Gauntlet WETH Prime vault aims to optimize for risk-adjusted yield by allocating across large market cap assets and high liquidity yield sources. The vaults risk strategy follows the Gauntlet Prime conservative framework whereby we curate supply to manage security and yield to provide a low risk profile at competitive APYs."
Largest depositors
824 addresses hold shares in this vault
| Address | Deposit | Share of vault |
|---|---|---|
| 0x2B02…7896 | $8.56M | 43.2% |
| 0xC9d3…30d7 | $8.48M | 42.7% |
| 0x1199…d0b2 | $1.61M | 8.1% |
| 0xB757…a9b5 | $1.42M | 7.2% |
| 0x59f6…0361 | $303K | 1.5% |
| 0xDAFf…C250 | $281K | 1.4% |
| 0x5C97…5D81 | $231K | 1.2% |
| 0xaa45…09dF | $225K | 1.1% |
| 0x8C9a…AeD6 | $129K | 0.6% |
| 0xf734…6932 | $84.3K | 0.4% |
When a few addresses hold most of a vault, one large withdrawal can use up the liquidity that is free right now.
About Gauntlet WETH Prime V2
Gauntlet WETH Prime V2 is a Morpho V2 vault on Ethereum, created on October 1, 2025. It takes WETH deposits and lends them to borrowers in 3 Morpho markets. The curator, Gauntlet, decides which markets it may use and how much can go into each.
It holds $19.85M (9.85K WETH) from 824 depositors and pays a net APY of 2.97% after its 0% performance fee. Over the last 30 days depositors actually earned 2.03% a year, and 1.89% over the last year.
Its largest position is wstETH / WETH at 49% of its deposits, followed by wstETH / WETH (42%) and weETH / WETH (8%). Counting every market, its loans are backed mainly by wstETH (95%) and weETH (5%). 0% of deposits could be withdrawn right now.
Adding a market or raising how much can go into one waits behind a timelock of 7 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 WETH Prime V2: quick answers
What is the APY of Gauntlet WETH Prime V2 on Ethereum?
Gauntlet WETH Prime V2 pays 2.97% net APY right now, after its fees. Measured from the growth of its share price, it paid 2.03% over the last 30 days. The rate changes every day with what its borrowers pay.
What does Gauntlet WETH Prime V2 lend against?
It lends WETH through 3 Morpho markets. The biggest is wstETH / WETH with 49% of its deposits. Overall its loans are backed mainly by wstETH (95%) and weETH (5%).
Can I withdraw from Gauntlet WETH Prime V2 right now?
About $19.5K of its $19.85M in deposits (0%) 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 WETH Prime V2 and what does it charge?
Gauntlet curates it. It keeps 0% of the interest earned as a performance fee. The net APY shown is after these fees.
What are the risks of Gauntlet WETH Prime V2?
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 7 days. This is not advice.
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