sky.money USDC Risk CapitalV2
A Morpho V2 vault on Ethereum that lends out USDC deposits, curated by Sky Money. Depositors earn 4.27% a year right now after a 0% performance fee.
Data from Morpho's API · updated
Net APY
4.27%
after fees, paid to depositors
30-day APY
4.52%
7-day 4.27%
Deposits
$10.05M
10.05M USDC
Withdrawable now
$1.21M
12% of deposits
Performance fee
0%
of the interest earned
Depositors
125
largest holds 40.4%
sky.money USDC Risk Capital 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 |
|---|---|---|
| stUSDS / USDCLLTV 86% | $10.05M | 100.0% |
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
| stUSDS | 100.0% |
|---|
Returns over time
Net APY actually earned over each period, from the share price
| Last day | 4.31% |
|---|---|
| Last 7 days | 4.27% |
| Last 30 days | 4.52% |
| Since the vault started | 42971856.79% |
Who controls this vault
| Curator | Sky Money |
|---|---|
| Owner | 0x3F32…1Bba2-of-3 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 | None |
| Allocators | 1addresses that move money between markets |
| Sentinels | 1can pull money back or cut caps in an emergency |
| Created | February 21, 2026 |
Timelocks give depositors time to leave before a change they dislike takes effect. Morpho risks explained.
Details
| Deposit asset | USDCprice $0.9999 |
|---|---|
| Vault version | Morpho Vault V2 |
| APY before fees | 4.27% |
| Vault contract | 0x56bf…3ecf |
| USDC token | 0xA0b8…eB48 |
| Network | Ethereum |
The curator's description: "sky.money USDC Risk Capital vault accepts USDC deposits and deploys them exclusively into an stUSDS-USDC Morpho market."
Largest depositors
125 addresses hold shares in this vault
| Address | Deposit | Share of vault |
|---|---|---|
| 0x7DF5…5fA0 | $4.06M | 40.4% |
| 0x9284…24a9 | $940K | 9.4% |
| 0x15c1…EEb7 | $852K | 8.5% |
| 0x55bA…1fB6 | $471K | 4.7% |
| 0x51F8…3815 | $384K | 3.8% |
| 0xDE55…2e59 | $332K | 3.3% |
| 0x6357…e0df | $311K | 3.1% |
| 0x61b4…f422 | $305K | 3.0% |
| 0xC0f5…3CC3 | $304K | 3.0% |
| 0x5a52…7dDf | $288K | 2.9% |
When a few addresses hold most of a vault, one large withdrawal can use up the liquidity that is free right now.
About sky.money USDC Risk Capital
sky.money USDC Risk Capital is a Morpho V2 vault on Ethereum, created on February 21, 2026. It takes USDC deposits and lends them to borrowers in 1 Morpho market. The curator, Sky Money, decides which markets it may use and how much can go into each.
It holds $10.05M (10.05M USDC) from 125 depositors and pays a net APY of 4.27% after its 0% performance fee. Over the last 30 days depositors actually earned 4.52% a year.
Its largest position is stUSDS / USDC at 100% of what it lends. Counting every market, its loans are backed mainly by stUSDS (100%). 12% 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 2-of-3 multisig wallet. Morpho's app shows no warnings for this vault.
sky.money USDC Risk Capital: quick answers
What is the APY of sky.money USDC Risk Capital on Ethereum?
sky.money USDC Risk Capital pays 4.27% net APY right now, after its fees. Measured from the growth of its share price, it paid 4.52% over the last 30 days. The rate changes every day with what its borrowers pay.
What does sky.money USDC Risk Capital lend against?
It lends USDC through 1 Morpho market. The biggest is stUSDS / USDC with 100% of its lending. Overall its loans are backed mainly by stUSDS (100%).
Can I withdraw from sky.money USDC Risk Capital right now?
About $1.21M of its $10.05M in deposits (12%) 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 sky.money USDC Risk Capital and what does it charge?
Sky Money 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 sky.money USDC Risk Capital?
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 USDC vaults
The same deposit asset, other curators and networks