Usual Boosted USDC on Ethereum
A Morpho vault on Ethereum that lends out USDC deposits, curated by MEV Capital. Depositors earn 5.83% a year right now after a 10% performance fee.
Data from Morpho's API · updated
Net APY
5.83%
after fees, paid to depositors
30-day APY
6.40%
7-day 5.98%, from the share price
Deposits
$1.80M
1.80M USDC
Withdrawable now
$1.78M
99% of deposits
Performance fee
10%
of the interest earned
Depositors
946
largest holds 18.0%
Usual Boosted 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 |
|---|---|---|
| siUSD / USDCLLTV 91.5% | $741K | 39.3% |
| OETH / USDCLLTV 86% | $702K | 37.3% |
| mF-ONE / USDCLLTV 91.5% | $422K | 22.4% |
| mHYPER / USDCLLTV 86% | $18.9K | 1.0% |
| Idle cashnot lent out | $37.00 | <0.01% |
| wstETH / USDCLLTV 86% | $0 | 0.0% |
| WBTC / USDCLLTV 86% | $0 | 0.0% |
| reUSD / USDCLLTV 91.5% | $0 | 0.0% |
| EURCV / USDCLLTV 86% · under $1,000, not tracked here | $0 | 0.0% |
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
| OETH | 39.1% |
|---|---|
| siUSD | 31.5% |
| mF-ONE | 28.1% |
| mHYPER | 1.1% |
| reUSD | 0.2% |
Returns over time
Net APY actually earned over each period, from the share price: after fees, without token rewards
| Last day | 5.84% |
|---|---|
| Last 7 days | 5.98% |
| Last 30 days | 6.40% |
| Last 90 days | 5.78% |
| Last year | 1.32% |
Who controls this vault
| Curator | MEV Capital |
|---|---|
| Owner | 0x38af…82DB2-of-5 multisig |
| Guardian | 0x6e9d…7FB7 |
| Timelock | 3 dayswait before risky changes take effect |
| Allocators | 3addresses that move money between markets |
| Created | July 24, 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 | 6.50% |
| Public allocator | Onborrowers can pull liquidity between this vault's markets |
| Vault contract | 0xd630…3a3D |
| USDC token | 0xA0b8…eB48 |
| Network | Ethereum |
The curator's description: "The MEV Capital Usual USDC provides a set of liquid collateral markets with an optimized risk-adjusted return through an active rebalancing strategy."
Largest depositors
946 addresses hold shares in this vault
| Address | Deposit | Share of vault |
|---|---|---|
| 0x5a76…9Eea | $324K | 18.0% |
| 0x862c…EB9e | $255K | 14.2% |
| 0xca1c…F550 | $106K | 5.9% |
| 0xb004…9C25 | $106K | 5.9% |
| 0xB757…a9b5 | $104K | 5.8% |
| 0xaA15…f349 | $79.8K | 4.4% |
| 0x6B65…ce79 | $77.9K | 4.3% |
| 0xe5A5…20C0 | $60.9K | 3.4% |
| 0x4644…8593 | $59.8K | 3.3% |
| 0x98c7…302b | $53.6K | 3.0% |
When a few addresses hold most of a vault, one large withdrawal can use up the liquidity that is free right now.
About Usual Boosted USDC
Usual Boosted USDC is a MetaMorpho vault (Morpho V1) on Ethereum, created on July 24, 2024. It takes USDC deposits and lends them to borrowers in 4 Morpho markets. The curator, MEV Capital, decides which markets it may use and how much can go into each.
It holds $1.80M (1.80M USDC) from 946 depositors and pays a net APY of 5.83% after its 10% performance fee. Over the last 30 days depositors actually earned 6.40% a year, and 1.32% over the last year.
Its largest position is siUSD / USDC at 39% of its deposits, followed by OETH / USDC (37%) and mF-ONE / USDC (22%). Counting every market, its loans are backed mainly by OETH (39%), siUSD (32%) and mF-ONE (28%). 99% 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 2-of-5 multisig wallet. Morpho's app shows no warnings for this vault.
Usual Boosted USDC: quick answers
What is the APY of Usual Boosted USDC on Ethereum?
Usual Boosted USDC pays 5.83% net APY right now, after its fees. Measured from the growth of its share price, it paid 6.40% over the last 30 days. The rate changes every day with what its borrowers pay.
What does Usual Boosted USDC lend against?
It lends USDC through 4 Morpho markets. The biggest is siUSD / USDC with 39% of its deposits. Overall its loans are backed mainly by OETH (39%), siUSD (32%) and mF-ONE (28%).
Can I withdraw from Usual Boosted USDC right now?
Yes: all of its $1.80M 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 Usual Boosted USDC and what does it charge?
MEV Capital curates it. It keeps 10% of the interest earned as a performance fee. The net APY shown is after these fees.
What are the risks of Usual Boosted 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. This is not advice.
Other USDC vaults
The same deposit asset, other curators and networks
