Feather BRZV2
A Morpho V2 vault on Polygon that lends out BRZ deposits, curated by Feather. Depositors earn 13.81% a year right now after a 15% performance fee.
Data from Morpho's API · updated
Net APY
13.81%
incl. 13.77% in rewards
30-day APY
0.02%
7-day 0.03%
Deposits
$194K
1.00M BRZ
Withdrawable now
$192K
99% of deposits
Performance fee
15%
of the interest earned
Depositors
5
largest holds 99.8%
Feather BRZ 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 |
|---|---|---|
| sfrxUSD / BRZLLTV 86% | $1.0K | 59.3% |
| TESOURO / BRZLLTV 86% · not listed in the Morpho app | $689 | 40.7% |
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
| sfrxUSD | 59.3% |
|---|---|
| Other | 40.7% |
Returns over time
Net APY actually earned over each period, from the share price
| Last day | 13.24% |
|---|---|
| Last 7 days | 0.03% |
| Last 30 days | 0.02% |
| Since the vault started | 0.30% |
Who controls this vault
| Curator | Feather |
|---|---|
| Owner | 0x81c7…091F4-of-6 multisig |
| Timelock to raise a cap | 3 dayswait before more can go into a market |
| Timelock to add an adapter | 3 dayswait before a new kind of investment |
| Timelock to raise fees | 3 days |
| Allocators | 2addresses that move money between markets |
| Sentinels | 0can pull money back or cut caps in an emergency |
| Created | August 10, 2026 |
Timelocks give depositors time to leave before a change they dislike takes effect. Morpho risks explained.
Details
| Deposit asset | BRZprice $0.1930 |
|---|---|
| Vault version | Morpho Vault V2 |
| APY before fees | 0.04% |
| Rewards | BRZ 13.77% |
| Vault contract | 0x902A…4435 |
| BRZ token | 0x4eD1…75Dc |
| Network | Polygon |
The curator's description: "The Feather BRZ vault aims to optimize BRL denominated yields by lending the Brazilian Digital Token BRZ against a wide range of collaterals."
Largest depositors
5 addresses hold shares in this vault
| Address | Deposit | Share of vault |
|---|---|---|
| 0x97c1…413d | $193K | 99.8% |
| 0x979F…EdB5 | $481 | 0.2% |
| 0x81c7…091F | $1.00 | <0.01% |
| 0xA21B…5182 | $0 | 0.0% |
| 0x1301…E1F7 | $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 Feather BRZ
Feather BRZ is a Morpho V2 vault on Polygon, created on August 10, 2026. It takes BRZ deposits and lends them to borrowers in 2 Morpho markets. The curator, Feather, decides which markets it may use and how much can go into each.
It holds $194K (1.00M BRZ) from 5 depositors and pays a net APY of 13.81% after its 15% performance fee. Over the last 30 days depositors actually earned 0.02% a year. About 13.77% of today's rate comes from BRZ rewards, which can stop at any time.
Its largest position is sfrxUSD / BRZ at 59% of what it lends, followed by TESOURO / BRZ (41%). Counting every market, its loans are backed mainly by sfrxUSD (59%) and Other (41%). 99% of deposits could be withdrawn right now.
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-6 multisig wallet. Morpho's app shows no warnings for this vault.
Feather BRZ: quick answers
What is the APY of Feather BRZ on Polygon?
Feather BRZ pays 13.81% net APY right now, after its fees and including 13.77% of rewards. Measured from the growth of its share price, it paid 0.02% over the last 30 days. The rate changes every day with what its borrowers pay.
What does Feather BRZ lend against?
It lends BRZ through 2 Morpho markets. The biggest is sfrxUSD / BRZ with 59% of its lending. Overall its loans are backed mainly by sfrxUSD (59%) and Other (41%).
Can I withdraw from Feather BRZ right now?
Yes: all of its $194K in deposits could be withdrawn immediately, because the markets it lends to have enough unborrowed BRZ left. That can change quickly when borrowing picks up.
Who runs Feather BRZ and what does it charge?
Feather curates it. It keeps 15% of the interest earned as a performance fee. The net APY shown is after these fees.
What are the risks of Feather BRZ?
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.
