Vaults

Overview

Financials

Lending Markets

MORPHO Token

Users deposit assets into Morpho vaults to earn passive yield from interest paid by borrowers. Morpho Vaults allow curators to actively manage risk and curate risk exposure for all deposited assets, abstracting this complexity away from the users. 

Total value of assets held in Morpho vaults.

Morpho: Vault Balance

Vault curators often rebalance liquidity between Morpho markets, adjusting to changing risk/return profiles. 

Number of vault rebalancing transactions per period. 

Morpho: Vault Rebalancing

HHI shows how concentrated vault assets are across lending markets, calculated as the sum of ecah markets share of vault value across markets. HHI ranges between 0 and 1, where 1 indicates maximum concentration (all assets in one market) and low numbers indicate higher levels of concentration. 

Herfindahl-Hirschman Index (HHI) of concentration of vault assets in lending markets. 

Morpho: Vault Allocation Concentration

When users deposit assets into a Morpho Vault they receive shares representing their ownership of a proportion total assets in the vault. Vault shareholders represents the number of unique addresses that hold shares in a vault.

Number of unique addresses holding vault shares

Morpho: Vault Shareholders

**Curator:** Designated entity or individual who aims to optimize the rosk-adjusted rethrns for depositors based on a given strategy. Responsible for the strategic curation of vaults, deciding which markets to include, how capital is allocated, and how risk is curated.   

**Asset Balance/USD Balance:** Quantity of assets managed by the vault, and value of assets in USD.  

**Depositors:** Number of distinct addresses holding shares in the vault. Shares are transferrable and represent a share in the ownership of assets managed by the vault.  

**Average Concentration (HHI):** Herfindahl-Hirschman Index (HHI) is a commonly used metric for measuring concentration or competition. Applied here, the metric shows how concentrated a vaults assets are between markets. An HHI of 1 implies maximum concentration (all assets in one market), and an HHI close to 0 implies low concentration (assets spread between many markets).  

**Average Daily Rebalancing Transactions:** The average number of transactions the vault curator makes to rebalance vault assets between markets.  

**Performance Fee:** Current fee collected by the curator for their services. Fee is collected as a percent of the interest accrued by the vault.   

**Realized Supply Yield:** Interest accrued over the recent period divided by the average balance over the period, annualized. 

Morpho: Vault Data

Morpho: Vault Curators

Vaults earn interest by depositing users provided liquidity into Morpho Markets, which generate interest through lending operations. 

Total value of interest earned by vaults. 

Morpho: Vault Interest

Vault curators earn a performance fee on the interest earned through vault curation. Fees typically equal 0% to 20% of the total value of interest earned. 

Total value of Performance Fees earned by vault curators. 

Morpho: Performance Fees

Assets under management (AUM) is the total value of assets manged by a curator. 

Note that the data shown here is the sum of end-of-day balances for each vault operated by each curator, as observed from Interest Accrual events.

Markets

Sectors

Layer 1

Layer 2

Finance

Consumer

DePin

Chain Clusters

ETFS

Morpho: Vaults