Vaults
577 active vaults across 11 chains · $2.03B AUM · $4.05M curator fees annualized · $62.03M borrow interest captured
Vaults as asset managers · Source: Morpho GraphQL · vault_state_daily · as of 2026-09-09
Top 10 vaults by AUM
Bars colored by chain · hover for net APY delivered + curator.
Vault performance landscape
Fee rate vs net APY delivered. Bubble size = AUM, color = asset class. Each dot is one vault; the top 5 by AUM are the largest bubbles.
Vault AUM distribution
Median vault AUM $1.64K · 95% of vaults sit below $10M. A long tail under a handful of mega-vaults.
Vault directory: 788 matches
Click a header to sort, a row to copy its identifier (chain:address). Vaults with APY > 100% are dropped as non-economic.
| Chain· | Vault· | Curator· | Asset· | AUM↓ | Net APY· | Fee Rate· | Fee Take· | Borrow Int.· | AUM 30d Δ· | Util· |
|---|---|---|---|---|---|---|---|---|---|---|
| Base | Muscadine USDC Vault | unattributed | USDC | $12.51 | 0.00% | 0.0% | 0.0% | N/A | +0.0% | N/A |
| Ethereum | Hadjime EURC Prime | unattributed | EURC | $12.48 | 2.21% | 0.0% | 0.0% | $0.28 | +1.0% | N/A |
| Base | V1 | unattributed | USDC | $12.43 | 3.68% | 10.0% | 10.0% | $0.51 | +0.4% | N/A |
| Ethereum | Bachata USDC | unattributed | USDC | $11.41 | 6.51% | 0.0% | 0.0% | $0.74 | +4.9% | N/A |
| Base | Clearstar Boring USDC | Clearstar | USDC | $11.36 | 4.14% | 0.0% | 0.0% | $0.47 | +0.4% | N/A |
| Ethereum | Grove x Steakhouse USDC High Yield | Steakhouse Financial | USDC | $11.26 | 0.00% | 0.0% | 0.0% | N/A | +0.0% | N/A |
| Base | VeloForge Vault USDC (Base) | unattributed | USDC | $11.16 | 5.43% | 0.0% | 0.0% | $0.61 | +0.6% | N/A |
| Unichain | usdc staging | unattributed | USDC | $11.1 | 6.52% | 0.0% | 0.0% | $0.72 | +0.9% | N/A |
| Ethereum | Cypher Capital Core USDC | unattributed | USDC | $10.85 | 4.62% | 7.0% | 7.0% | $0.54 | +0.4% | N/A |
| HyperEVM | HyperStable UFART/USH | unattributed | USH | $10.74 | 0.00% | 50.0% | 50.0% | N/A | -37.1% | N/A |
| Base | Snow USDC | unattributed | USDC | $10.48 | 4.03% | 2.0% | 2.0% | $0.43 | +0.4% | N/A |
| Ethereum | Clearstar Institutional USDT | Clearstar | USDT | $10.41 | 1.80% | 0.0% | 0.0% | $0.19 | +0.2% | N/A |
| HyperEVM | usdc staging | unattributed | USDC | $10.4 | 6.01% | 0.0% | 0.0% | $0.62 | +0.6% | N/A |
| Base | tstcntrct | unattributed | USDC | $10.39 | 3.68% | 10.0% | 10.0% | $0.43 | +0.4% | N/A |
| Base | USDC Madness | unattributed | USDC | $10.37 | 3.70% | 10.0% | 10.0% | $0.43 | +0.4% | N/A |
Vaults are MetaMorpho's curated allocators. Depositors put capital into a vault, and the curator allocates across Morpho markets. AUM = total assets supplied to the vault. Net APY is after-fee yield delivered to depositors. Fee Rate is the curator's performance fee on yield. Fee Take Rate = curator fees ÷ borrow interest captured = the share of borrower-paid yield the curator retains (per-vault this reduces to the performance fee). Borrow interest captured = AUM × pre-fee APY.
Vaults reporting APY ≥ 100% are excluded from weighted aggregates as data artifacts (a saturated-utilization underlying market with a runaway IRM). The utilization column shows ". " until vault_allocations_daily backfills.
Datum Labs. (2026). Morpho Research Terminal: Vault directory. Retrieved September 9, 2026 from /vaults.