Morpho

Morpho Vaults - Curated Yield

Morpho

Curated yield vaults

Morpho vaults are the curated layer on top of Morpho Blue. A Morpho vault allocates supplier deposits across a set of approved lending markets. The vault curator chooses the markets and the proportions. Suppliers deposit once and earn a diversified Morpho earn yield without reading every collateral factor themselves.

This is the access point for most passive users of Morpho DeFi. A retail supplier can pick a vault whose risk matches theirs. A treasury can pick a vault with a tighter market list. Lending with Morpho through a vault is still lending into Morpho Blue markets. The vault does not replace the markets. It allocates across them.

Risk stays configurable. Curators can add or remove markets, set caps, and rebalance as utilization and collateral quality change. Suppliers can see the allocation because it is on-chain. That transparency is why Morpho vaults are used both as a simple earn product and as institutional credit exposure.

How to use a Morpho vault

  1. Pick a vault. Read the curator, the market list, and the caps before you deposit.
  2. Deposit the asset the vault accepts. You receive a position in the vault, not a promise from a custodian.
  3. Earn the blended rate. Morpho interest rates in the underlying markets, weighted by allocation, are what the vault passes through.
  4. Watch the curator. Allocation can change. The vault page is the record of where capital sits.

Frequently asked questions

What is a Morpho vault?

A Morpho vault is a curated yield product. A curator allocates depositors' capital across approved Morpho Blue markets, with configurable risk parameters.

How is a Morpho vault different from a Morpho Blue market?

A Morpho Blue market is one collateral and one borrow asset. A Morpho vault spreads a deposit across several of those markets. The market sets the rate. The vault sets the mix.

Who manages a Morpho vault?

A vault curator. The curator selects markets, sets caps, and rebalances. Suppliers choose the curator and the vault. They do not hand over custody of the protocol itself.