Moonwell Ecosystem USDC Vault
100% of this vault is in exotic / elevated-risk collateral, earning +243 bps over a plain USDC vault.
Anthias Labs USDC vault on Base, allocating across 3 Morpho Blue markets.
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 (MAMO / USDC) is reporting supply APY at or above 50% — peak 240% on MAMO / USDC. 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.
Primary loan or collateral asset is a stablecoin. A sustained depeg below 99 cents impacts NAV and disables liquidation routing for non-USD collateral.