Gauntlet USDTV2
A Morpho V2 vault on Katana that lends out vbUSDT deposits, curated by Gauntlet. Depositors earn 0.00% a year right now after a 10% performance fee.
Data from Morpho's API · updated
Net APY
0.00%
after fees, paid to depositors
30-day APY
3.53%
7-day 0.00%
Deposits
$715
714.71 vbUSDT
Withdrawable now
$715
100% of deposits
Performance fee
10%
of the interest earned
Depositors
10
largest holds 42.2%
Gauntlet USDT 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 | |||
|---|---|---|---|---|---|
| This vault is not lending anything right now. | |||||
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
| Other | – |
|---|
Returns over time
Net APY actually earned over each period, from the share price
| Last day | 0.00% |
|---|---|
| Last 7 days | 0.00% |
| Last 30 days | 3.53% |
| Since the vault started | 6.45% |
Who controls this vault
| Curator | Gauntlet |
|---|---|
| Owner | 0x5D8C…F69f4-of-7 multisig |
| Timelock to raise a cap | 3 dayswait before more can go into a market |
| Timelock to add an adapter | 7 dayswait before a new kind of investment |
| Timelock to raise fees | 1 day |
| Allocators | 2addresses that move money between markets |
| Sentinels | 2can pull money back or cut caps in an emergency |
| Created | May 29, 2026 |
Timelocks give depositors time to leave before a change they dislike takes effect. Morpho risks explained.
Details
| Deposit asset | vbUSDTprice $0.9999 |
|---|---|
| Vault version | Morpho Vault V2 |
| APY before fees | 0.00% |
| Vault contract | 0xaC59…dceb |
| vbUSDT token | 0x2DCa…D2F2 |
| Network | Katana |
The curator's description: "The Gauntlet USDT Vault will list a selection of liquid collateral markets and allocate across them to optimize risk-adjusted yield."
Largest depositors
10 addresses hold shares in this vault
| Address | Deposit | Share of vault |
|---|---|---|
| 0x1Fa1…8F27 | $302 | 42.2% |
| 0xeE18…cadb | $189 | 26.4% |
| 0x7f34…0b35 | $104 | 14.5% |
| 0xC04B…3a4C | $60.00 | 8.4% |
| 0x3552…D3DE | $42.00 | 5.9% |
| 0xd12c…Ed29 | $15.00 | 2.1% |
| 0x29D3…6e80 | $2.00 | 0.3% |
| 0x0000…dEaD | $1.00 | 0.1% |
| 0xBA39…b111 | $0 | 0.0% |
| 0xF1e0…b1eD | $0 | 0.0% |
When a few addresses hold most of a vault, one large withdrawal can use up the liquidity that is free right now.
About Gauntlet USDT V2
Gauntlet USDT V2 is a Morpho V2 vault on Katana, created on May 29, 2026. It takes vbUSDT deposits and lends them to borrowers in 0 Morpho markets. The curator, Gauntlet, decides which markets it may use and how much can go into each.
It holds $715 (714.71 vbUSDT) from 10 depositors and pays a net APY of 0.00% after its 10% performance fee. Over the last 30 days depositors actually earned 3.53% a year.
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 4-of-7 multisig wallet. Morpho's app shows no warnings for this vault.
Gauntlet USDT V2: quick answers
What is the APY of Gauntlet USDT V2 on Katana?
Gauntlet USDT V2 pays 0.00% net APY right now, after its fees. Measured from the growth of its share price, it paid 3.53% over the last 30 days. The rate changes every day with what its borrowers pay.
Can I withdraw from Gauntlet USDT V2 right now?
Yes: all of its $715 in deposits could be withdrawn immediately, because the markets it lends to have enough unborrowed vbUSDT left. That can change quickly when borrowing picks up.
Who runs Gauntlet USDT V2 and what does it charge?
Gauntlet 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 Gauntlet USDT V2?
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 vbUSDT vaults
The same deposit asset, other curators and networks
| Vault | Net APY |
|---|---|
| Yearn OG USDTV2Yearn · Katana · $1.21M | 3.77%incl. 0.68% rewards |
| Clearstar Core USDTV2Clearstar · Katana · $949K | 4.44%incl. 0.90% rewards |
| Gauntlet USDTGauntlet · Katana · $111K | 0.00% |