EURCV Prime
The MEV Capital EURCV Prime vault aims to optimize Euro-based yields by lending EURCV against listed collateral assets including BTC, wstETH and Euro-denominated RWAs.
The honest version. Every structural failure mode this vault is exposed to, ranked by severity. If you want to know whether to invest, start here.
A market (USDC / EURCV) is reporting supply APY at or above 50% — peak 54% on USDC / EURCV. This is almost always a degenerate IRM state (100% utilization, dust-sized supply, or a stale post-liquidation snapshot) rather than real lending demand. The vault's headline APY is being averaged up by these positions; treat it as transient. 0.0% of TVL sits in the affected market.
Cap-weighted utilization is 85.5%, leaving little idle buffer. Large same-day redemptions may queue behind active loan repayments.