SwissBorg Morpho USDC on Ethereum
⚠ Name flagged by MorphoA Morpho vault on Ethereum that lends out USDC deposits, curated by Gauntlet. Depositors earn 3.99% a year right now after a 5% performance fee.
Data from Morpho's API · updated
Net APY
3.99%
after fees, paid to depositors
30-day APY
4.37%
7-day 4.79%, from the share price
Deposits
$8.08M
8.08M USDC
Withdrawable now
$8.08M
100% of deposits
Performance fee
5%
of the interest earned
Depositors
2
largest holds 106.3%
Warnings from Morpho
- Name flagged by Morpho
- Symbol flagged by Morpho
- Deposits switched off
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, 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 |
|---|---|---|
| WBTC / USDCLLTV 86% | $3.44M | 40.0% |
| cbBTC / USDCLLTV 86% | $3.44M | 40.0% |
| wstETH / USDCLLTV 86% | $1.29M | 15.0% |
| Idle cashnot lent out | $430K | 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 | 42.1% |
|---|---|
| cbBTC | 42.1% |
| wstETH | 15.8% |
Returns over time
Net APY actually earned over each period, from the share price: after fees, without token rewards
| Last day | 4.05% |
|---|---|
| Last 7 days | 4.79% |
| Last 30 days | 4.37% |
| Last 90 days | 3.83% |
| Last year | 3.39% |
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 $0.9997 |
|---|---|
| Vault version | MetaMorpho (V1) |
| APY before fees | 4.21% |
| 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 | $8.59M | 106.3% |
| 0x3470…b1b2 | $7.1K | 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 $8.08M (8.08M USDC) from 2 depositors and pays a net APY of 3.99% after its 5% performance fee. Over the last 30 days depositors actually earned 4.37% a year, and 3.39% over the last year.
Its largest position is WBTC / USDC at 40% of its deposits, followed by cbBTC / USDC (40%) and wstETH / USDC (15%). 5% sits idle, not lent out. Counting every market, its loans are backed mainly by WBTC (42%), cbBTC (42%) and wstETH (16%). 100% 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-7 multisig wallet. Morpho's app shows warnings for this vault: name flagged by morpho, symbol flagged by morpho and deposits switched off.
SwissBorg Morpho USDC: quick answers
What is the APY of SwissBorg Morpho USDC on Ethereum?
SwissBorg Morpho USDC pays 3.99% net APY right now, after its fees. Measured from the growth of its share price, it paid 4.37% 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 deposits. 5% sits idle. Overall its loans are backed mainly by WBTC (42%), cbBTC (42%) and wstETH (16%).
Can I withdraw from SwissBorg Morpho USDC right now?
Yes: all of its $8.08M 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. Adding a market or raising a cap waits behind a timelock of 3 days. Morpho's app flags: name flagged by morpho, symbol flagged by morpho and deposits switched off. This is not advice.
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