KPK ETH Prime on Ethereum
V2A Morpho V2 vault on Ethereum that lends out WETH deposits, curated by KPK. Depositors earn 1.50% a year right now after a 0% performance fee.
Data from Morpho's API · updated
Net APY
1.50%
after fees, paid to depositors
30-day APY
2.25%
7-day 2.04%, from the share price
Deposits
$722K
358.36 WETH
Withdrawable now
$0
0% of deposits
Performance fee
0%
of the interest earned
Depositors
40
largest holds 81.5%
KPK ETH Prime 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 |
|---|---|---|
| rETH / WETHLLTV 94.5% | $649K | 56.3% |
| wstETH / WETHLLTV 94.5% | $290K | 25.2% |
| weETH / WETHLLTV 94.5% | $188K | 16.3% |
| wstETH / WETHLLTV 96.5% | $25.1K | 2.2% |
| Idle cashnot lent out | $21.00 | <0.01% |
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
| rETH | 50.0% |
|---|---|
| wstETH | 25.4% |
| weETH | 24.6% |
Returns over time
Net APY actually earned over each period, from the share price: after fees, without token rewards
| Last day | 1.01% |
|---|---|
| Last 7 days | 2.04% |
| Last 30 days | 2.25% |
| Last 90 days | 1.97% |
Who controls this vault
| Curator | KPK |
|---|---|
| Owner | 0x8b88…A5375-of-8 multisig |
| 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 | 14 days |
| Allocators | 4addresses that move money between markets |
| Sentinels | 1can pull money back or cut caps in an emergency |
| Created | November 5, 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 | 1.50% |
| Vault contract | 0xBb50…5FF9 |
| WETH token | 0xC02a…6Cc2 |
| Network | Ethereum |
The curator's description: "A low-risk ETH vault with 24h automation. Allocations are continuously rebalanced across liquid markets with strict collateral filters in place to preserve liquidity and mitigate risk."
Largest depositors
40 addresses hold shares in this vault
| Address | Deposit | Share of vault |
|---|---|---|
| 0x2291…2B3c | $588K | 81.5% |
| 0x1199…d0b2 | $339K | 47.0% |
| 0x747C…B367 | $138K | 19.1% |
| 0xb9Ee…1133 | $39.9K | 5.5% |
| 0xD7aC…FB6d | $23.3K | 3.2% |
| 0xE252…637B | $13.1K | 1.8% |
| 0x2BFF…ab0e | $3.9K | 0.5% |
| 0xbDF4…94cd | $2.3K | 0.3% |
| 0x7229…8CBE | $1.2K | 0.2% |
| 0x8bB5…3ed3 | $1.2K | 0.2% |
When a few addresses hold most of a vault, one large withdrawal can use up the liquidity that is free right now.
About KPK ETH Prime
KPK ETH Prime is a Morpho V2 vault on Ethereum, created on November 5, 2025. It takes WETH deposits and lends them to borrowers in 4 Morpho markets. The curator, KPK, decides which markets it may use and how much can go into each.
It holds $722K (358.36 WETH) from 40 depositors and pays a net APY of 1.50% after its 0% performance fee. Over the last 30 days depositors actually earned 2.25% a year.
Its largest position is rETH / WETH at 56% of its deposits, followed by wstETH / WETH (25%) and weETH / WETH (16%). Counting every market, its loans are backed mainly by rETH (50%), wstETH (25%) and weETH (25%). 0% 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 5-of-8 multisig wallet. Morpho's app shows no warnings for this vault.
KPK ETH Prime: quick answers
What is the APY of KPK ETH Prime on Ethereum?
KPK ETH Prime pays 1.50% net APY right now, after its fees. Measured from the growth of its share price, it paid 2.25% over the last 30 days. The rate changes every day with what its borrowers pay.
What does KPK ETH Prime lend against?
It lends WETH through 4 Morpho markets. The biggest is rETH / WETH with 56% of its deposits. Overall its loans are backed mainly by rETH (50%), wstETH (25%) and weETH (25%).
Can I withdraw from KPK ETH Prime right now?
About $0 of its $722K 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 KPK ETH Prime and what does it charge?
KPK 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 KPK ETH Prime?
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.
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