Hyperithm USDT Core
A Morpho vault on Ethereum that lends out USDT deposits, curated by Hyperithm. Depositors earn 3.95% a year right now after a 10% performance fee.
Data from Morpho's API · updated
Net APY
3.95%
after fees, paid to depositors
30-day APY
3.04%
7-day 4.55%
Deposits
$113K
113.09K USDT
Withdrawable now
$105K
93% of deposits
Performance fee
10%
of the interest earned
Depositors
13
largest holds 96.6%
Hyperithm USDT 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 |
|---|---|---|
| wstETH / USDTLLTV 86% | $63.8K | 56.4% |
| sUSDe / USDTLLTV 91.5% | $30.6K | 27.1% |
| WBTC / USDTLLTV 86% | $18.1K | 16.0% |
| Idle cashnot lent out | $590 | 0.5% |
| sUSDS / USDTLLTV 96.5% | $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
| wstETH | 56.4% |
|---|---|
| sUSDe | 27.1% |
| WBTC | 16.0% |
| Other | 0.5% |
| sUSDS | 0.0% |
Returns over time
Net APY actually earned over each period, from the share price
| Last day | 3.69% |
|---|---|
| Last 7 days | 4.55% |
| Last 30 days | 3.04% |
| Last year | 3.36% |
| Since the vault started | 3.67% |
Who controls this vault
| Curator | Hyperithm |
|---|---|
| Owner | 0xEe7E…18C82-of-3 multisig |
| Guardian | None |
| Timelock | 3 dayswait before risky changes take effect |
| Allocators | 2addresses that move money between markets |
| Created | April 18, 2025 |
Timelocks give depositors time to leave before a change they dislike takes effect. Morpho risks explained.
Details
| Deposit asset | USDTprice $0.9998 |
|---|---|
| Vault version | MetaMorpho (V1) |
| APY before fees | 4.40% |
| Public allocator | Onborrowers can pull liquidity between this vault's markets |
| Vault contract | 0x8888…8888 |
| USDT token | 0xdAC1…1ec7 |
| Network | Ethereum |
The curator's description: "Hyperithm USDT Core vault provides liquidity to conservative collateral markets aiming to generate stable income while maintaining prudent risk management for sustainable performance."
Largest depositors
13 addresses hold shares in this vault
| Address | Deposit | Share of vault |
|---|---|---|
| 0x92F0…c683 | $109K | 96.6% |
| 0x5142…73cD | $3.1K | 2.7% |
| 0x67B6…8F82 | $593 | 0.5% |
| 0x185C…6429 | $112 | 0.1% |
| 0x0000…8A90 | $31.00 | 0.0% |
| 0x8932…559F | $5.00 | <0.01% |
| 0x0000…0001 | $0 | 0.0% |
| 0x6bD2…6d95 | $0 | 0.0% |
| 0x942c…b5E3 | $0 | 0.0% |
| 0x1121…0a11 | $0 | 0.0% |
When a few addresses hold most of a vault, one large withdrawal can use up the liquidity that is free right now.
About Hyperithm USDT Core
Hyperithm USDT Core is a MetaMorpho vault (Morpho V1) on Ethereum, created on April 18, 2025. It takes USDT deposits and lends them to borrowers in 3 Morpho markets. The curator, Hyperithm, decides which markets it may use and how much can go into each.
It holds $113K (113.09K USDT) from 13 depositors and pays a net APY of 3.95% after its 10% performance fee. Over the last 30 days depositors actually earned 3.04% a year, and 3.36% over the last year.
Its largest position is wstETH / USDT at 56% of what it lends, followed by sUSDe / USDT (27%) and WBTC / USDT (16%). Counting every market, its loans are backed mainly by wstETH (56%), sUSDe (27%) and WBTC (16%). 93% 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 2-of-3 multisig wallet. Morpho's app shows no warnings for this vault.
Hyperithm USDT Core: quick answers
What is the APY of Hyperithm USDT Core on Ethereum?
Hyperithm USDT Core pays 3.95% net APY right now, after its fees. Measured from the growth of its share price, it paid 3.04% over the last 30 days. The rate changes every day with what its borrowers pay.
What does Hyperithm USDT Core lend against?
It lends USDT through 3 Morpho markets. The biggest is wstETH / USDT with 56% of its lending. Overall its loans are backed mainly by wstETH (56%), sUSDe (27%) and WBTC (16%).
Can I withdraw from Hyperithm USDT Core right now?
About $105K of its $113K in deposits (93%) 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 Hyperithm USDT Core and what does it charge?
Hyperithm 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 Hyperithm USDT 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. This is not advice.
Other USDT vaults
The same deposit asset, other curators and networks