KPK EURC YieldV2
A Morpho V2 vault on Ethereum that lends out EURC deposits, curated by KPK. Depositors earn 2.36% a year right now after a 0% performance fee.
Data from Morpho's API · updated
Net APY
2.36%
after fees, paid to depositors
30-day APY
2.85%
7-day 4.00%
Deposits
$310K
272.51K EURC
Withdrawable now
$190K
61% of deposits
Performance fee
0%
of the interest earned
Depositors
24
largest holds 37.1%
KPK EURC Yield 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 / EURCLLTV 86% | $190K | 61.4% |
| wstETH / EURCLLTV 86% | $114K | 36.6% |
| WETH / EURCLLTV 86% | $6.3K | 2.0% |
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 | 61.4% |
|---|---|
| wstETH | 36.6% |
| WETH | 2.0% |
Returns over time
Net APY actually earned over each period, from the share price
| Last day | 3.20% |
|---|---|
| Last 7 days | 4.00% |
| Last 30 days | 2.85% |
| Since the vault started | 2.64% |
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 | October 23, 2025 |
Timelocks give depositors time to leave before a change they dislike takes effect. Morpho risks explained.
Details
| Deposit asset | EURCprice $1.1385 |
|---|---|
| Vault version | Morpho Vault V2 |
| APY before fees | 2.36% |
| Vault contract | 0xa877…275f |
| EURC token | 0x1aBa…C33c |
| Network | Ethereum |
The curator's description: "A low-risk EURC vault with 24h automation. Allocations are continuously rebalanced across liquid markets with strict collateral filters to preserve liquidity and mitigate risk."
Largest depositors
24 addresses hold shares in this vault
| Address | Deposit | Share of vault |
|---|---|---|
| 0xd2C3…8Eb9 | $115K | 37.1% |
| 0x2650…4CC2 | $114K | 36.7% |
| 0xE88e…7FB9 | $34.5K | 11.1% |
| 0xD1F4…D930 | $23.0K | 7.4% |
| 0x3dEd…c6f2 | $15.1K | 4.9% |
| 0xc8B7…5B8e | $4.1K | 1.3% |
| 0x9c57…Fa52 | $2.3K | 0.7% |
| 0x510B…20c2 | $1.1K | 0.4% |
| 0xb277…2Ae0 | $460 | 0.1% |
| 0x9ae8…FD05 | $293 | 0.1% |
When a few addresses hold most of a vault, one large withdrawal can use up the liquidity that is free right now.
About KPK EURC Yield
KPK EURC Yield is a Morpho V2 vault on Ethereum, created on October 23, 2025. It takes EURC deposits and lends them to borrowers in 3 Morpho markets. The curator, KPK, decides which markets it may use and how much can go into each.
It holds $310K (272.51K EURC) from 24 depositors and pays a net APY of 2.36% after its 0% performance fee. Over the last 30 days depositors actually earned 2.85% a year.
Its largest position is WBTC / EURC at 61% of what it lends, followed by wstETH / EURC (37%) and WETH / EURC (2%). Counting every market, its loans are backed mainly by WBTC (61%), wstETH (37%) and WETH (2%). 61% of deposits could be withdrawn right now.
Risky changes, such as adding a market, wait behind a 3-day timelock on raising caps, 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 EURC Yield: quick answers
What is the APY of KPK EURC Yield on Ethereum?
KPK EURC Yield pays 2.36% net APY right now, after its fees. Measured from the growth of its share price, it paid 2.85% over the last 30 days. The rate changes every day with what its borrowers pay.
What does KPK EURC Yield lend against?
It lends EURC through 3 Morpho markets. The biggest is WBTC / EURC with 61% of its lending. Overall its loans are backed mainly by WBTC (61%), wstETH (37%) and WETH (2%).
Can I withdraw from KPK EURC Yield right now?
About $190K of its $310K in deposits (61%) 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 EURC Yield 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 EURC Yield?
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 on raising caps. This is not advice.
Other EURC vaults
The same deposit asset, other curators and networks