Compound USDT on Polygon
⚠ Deposits switched offA Morpho vault on Polygon that lends out USDT0 deposits, curated by Gauntlet. Depositors earn 1.35% a year right now after a 10% performance fee.
Data from Morpho's API · updated
Net APY
1.35%
after fees, paid to depositors
30-day APY
1.43%
7-day 1.45%, from the share price
Deposits
$162K
162.50K USDT0
Withdrawable now
$117K
72% of deposits
Performance fee
10%
of the interest earned
Depositors
957
largest holds 61.1%
Warnings from Morpho
- Deposits switched off
Morpho's app flags these. Check the bad debt page and the markets below before depositing.
Compound USDT 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 |
|---|---|---|
| Idle cashnot lent out | $106K | 65.2% |
| WPOL / USDT0LLTV 77% | $39.3K | 24.3% |
| WBTC / USDT0LLTV 86% | $16.0K | 9.9% |
| WETH / USDT0LLTV 86% · under $1,000, not tracked here | $919 | 0.6% |
| compWETH / USDT0LLTV 86% · under $1,000, not tracked here | $122 | 0.1% |
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
| WPOL | 67.9% |
|---|---|
| WBTC | 30.1% |
| Small or unlisted markets | 2.0% |
Returns over time
Net APY actually earned over each period, from the share price: after fees, without token rewards
| Last day | 1.35% |
|---|---|
| Last 7 days | 1.45% |
| Last 30 days | 1.43% |
| Last 90 days | 1.62% |
| Last year | 1.61% |
Who controls this vault
| Curator | Gauntlet |
|---|---|
| Owner | 0xCC3E…4a02 |
| Guardian | 0x8Ab7…F6e5 |
| Timelock | 3 dayswait before risky changes take effect |
| Allocators | 2addresses that move money between markets |
| Created | February 12, 2025 |
Timelocks give depositors time to leave before a change they dislike takes effect. Morpho risks explained.
Details
| Deposit asset | USDT0price $0.9990 |
|---|---|
| Vault version | MetaMorpho (V1) |
| APY before fees | 1.50% |
| Public allocator | Onborrowers can pull liquidity between this vault's markets |
| Vault contract | 0xfD06…D6c8 |
| USDT0 token | 0xc213…8e8F |
| Network | Polygon |
The curator's description: "The Compound USDT Vault will list a selection of liquid collateral markets and allocate across them to optimize risk-adjusted yield. The Vault's risk strategy will follow the CORE framework, where the curator balances security and yield to provide a moderate risk profile and competitive APY for USDT suppliers."
Largest depositors
957 addresses hold shares in this vault
| Address | Deposit | Share of vault |
|---|---|---|
| 0xDD75…cb88 | $99.2K | 61.1% |
| 0xCC3E…4a02 | $27.1K | 16.7% |
| 0x51f2…EfD5 | $10.3K | 6.4% |
| 0x9338…E84e | $7.9K | 4.9% |
| 0xAbEb…7e82 | $5.2K | 3.2% |
| 0x90c8…C129 | $5.1K | 3.2% |
| 0x953d…cB20 | $2.9K | 1.8% |
| 0x1D46…6a68 | $1.6K | 1.0% |
| 0xBeBE…cf39 | $555 | 0.3% |
| 0x00dD…C7Ab | $503 | 0.3% |
When a few addresses hold most of a vault, one large withdrawal can use up the liquidity that is free right now.
About Compound USDT
Compound USDT is a MetaMorpho vault (Morpho V1) on Polygon, created on February 12, 2025. It takes USDT0 deposits and lends them to borrowers in 4 Morpho markets. The curator, Gauntlet, decides which markets it may use and how much can go into each.
It holds $162K (162.50K USDT0) from 957 depositors and pays a net APY of 1.35% after its 10% performance fee. Over the last 30 days depositors actually earned 1.43% a year, and 1.61% over the last year.
Its largest position is WPOL / USDT0 at 24% of its deposits, followed by WBTC / USDT0 (10%) and WETH / USDT0 (1%). 65% sits idle, not lent out. Counting every market, its loans are backed mainly by WPOL (68%), WBTC (30%) and Small or unlisted markets (2%). 72% 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. Morpho's app shows a warning for this vault: deposits switched off.
Compound USDT: quick answers
What is the APY of Compound USDT on Polygon?
Compound USDT pays 1.35% net APY right now, after its fees. Measured from the growth of its share price, it paid 1.43% over the last 30 days. The rate changes every day with what its borrowers pay.
What does Compound USDT lend against?
It lends USDT0 through 4 Morpho markets. The biggest is WPOL / USDT0 with 24% of its deposits. 65% sits idle. Overall its loans are backed mainly by WPOL (68%), WBTC (30%) and Small or unlisted markets (2%).
Can I withdraw from Compound USDT right now?
About $117K of its $162K in deposits (72%) 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 Compound USDT 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 Compound USDT?
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: deposits switched off. This is not advice.
Other USDT0 vaults
The same deposit asset, other curators and networks
| Vault | Net APY |
|---|---|
| StableEarnV2Gauntlet · Stable · $20.22M | 6.24% |
| Bitget x Steakhouse USDTV2Steakhouse Financial · Arbitrum · $1.12M | 5.16% |
