SwissBorg Morpho USDC⚠ Invalid name
A Morpho vault on Ethereum that lends out USDC deposits, curated by Gauntlet. Depositors earn 4.07% a year right now after a 5% performance fee.
Data from Morpho's API · updated
Net APY
4.07%
after fees, paid to depositors
30-day APY
3.90%
7-day 4.00%
Deposits
$9.15M
9.15M USDC
Withdrawable now
$9.15M
100% of deposits
Performance fee
5%
of the interest earned
Depositors
2
largest holds 99.9%
Warnings from Morpho
- Invalid name
- Invalid symbol
- Deposit disabled
Morpho's app flags these. Check the bad debt page and the markets below before depositing.
SwissBorg Morpho USDC 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 / USDCLLTV 86% | $3.66M | 40.0% |
| cbBTC / USDCLLTV 86% | $3.66M | 40.0% |
| wstETH / USDCLLTV 86% | $1.37M | 15.0% |
| Idle cashnot lent out | $457K | 5.0% |
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 | 40.0% |
|---|---|
| cbBTC | 40.0% |
| wstETH | 15.0% |
| Other | 5.0% |
Returns over time
Net APY actually earned over each period, from the share price
| Last day | 4.11% |
|---|---|
| Last 7 days | 4.00% |
| Last 30 days | 3.90% |
| Last year | 3.42% |
| Since the vault started | 4.03% |
Who controls this vault
| Curator | Gauntlet |
|---|---|
| Owner | 0xAC15…84a35-of-7 multisig |
| Guardian | 0xAC15…84a3 |
| Timelock | 3 dayswait before risky changes take effect |
| Allocators | 2addresses that move money between markets |
| Created | September 2, 2024 |
Timelocks give depositors time to leave before a change they dislike takes effect. Morpho risks explained.
Details
| Deposit asset | USDCprice $0.9999 |
|---|---|
| Vault version | MetaMorpho (V1) |
| APY before fees | 4.29% |
| Public allocator | Onborrowers can pull liquidity between this vault's markets |
| Vault contract | 0x4Ff4…9E59 |
| USDC token | 0xA0b8…eB48 |
| Network | Ethereum |
The curator's description: "The SwissBorg USDC vault focuses on optimizing risk-adjusted returns in high-liquidity collateral markets with dynamic asset allocation and strict adherence to Gauntlet’s risk management practices. Deposit into that vault via the SwissBorg App."
Largest depositors
2 addresses hold shares in this vault
| Address | Deposit | Share of vault |
|---|---|---|
| 0xFbA6…8Bf2 | $9.14M | 99.9% |
| 0x3470…b1b2 | $5.4K | 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 SwissBorg Morpho USDC
SwissBorg Morpho USDC is a MetaMorpho vault (Morpho V1) on Ethereum, created on September 2, 2024. It takes USDC 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 $9.15M (9.15M USDC) from 2 depositors and pays a net APY of 4.07% after its 5% performance fee. Over the last 30 days depositors actually earned 3.90% a year, and 3.42% over the last year.
Its largest position is WBTC / USDC at 40% of what it lends, followed by cbBTC / USDC (40%) and wstETH / USDC (15%). Counting every market, its loans are backed mainly by WBTC (40%), cbBTC (40%) and wstETH (15%). 100% 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 5-of-7 multisig wallet. Morpho's app shows warnings for this vault: invalid name, invalid symbol and deposit disabled.
SwissBorg Morpho USDC: quick answers
What is the APY of SwissBorg Morpho USDC on Ethereum?
SwissBorg Morpho USDC pays 4.07% net APY right now, after its fees. Measured from the growth of its share price, it paid 3.90% over the last 30 days. The rate changes every day with what its borrowers pay.
What does SwissBorg Morpho USDC lend against?
It lends USDC through 3 Morpho markets. The biggest is WBTC / USDC with 40% of its lending. Overall its loans are backed mainly by WBTC (40%), cbBTC (40%) and wstETH (15%).
Can I withdraw from SwissBorg Morpho USDC right now?
Yes: all of its $9.15M in deposits could be withdrawn immediately, because the markets it lends to have enough unborrowed USDC left. That can change quickly when borrowing picks up.
Who runs SwissBorg Morpho USDC and what does it charge?
Gauntlet curates it. It keeps 5% of the interest earned as a performance fee. The net APY shown is after these fees.
What are the risks of SwissBorg Morpho USDC?
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. Morpho's app flags: invalid name, invalid symbol and deposit disabled. This is not advice.
Other USDC vaults
The same deposit asset, other curators and networks