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MEV Capital USDC Leverage

USDC·Ethereum·curated by MEV Capital
APY13.71%+0.76% vs 30d
TVL$119.4M
Risk score58/ 100
Plain English explanationWritten by Sharpe Finance research · model card · last update 2026-05-12
What this vault actually does

USDC vault biased toward LRT-collateral markets with elevated LLTVs and active rebalancing across Aave-correlated venues.

Where the yield comes from

Capture the spread between LRT staking + restaking + points and the USDC borrow rate by lending into the highest-utilization LRT markets, with active rebalancing during incentive-distribution windows.

Why the APY exists

Combination of elevated LRT carry, ETHFI and EIGEN points-monetization, and curator-managed rebalancing into the highest-utilization market each epoch.

Why institutions may trust it

Curator has a multi-year onchain track record and runs a parallel hedge fund. Risk model is published quarterly.

Why they may not

Higher LLTV and more aggressive rebalancing concentrate exposure into a smaller market set. The vault has historically taken meaningful drawdowns during LRT depeg events.

What breaks this vault

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.

weETH, ezETH, and rsETH are correlated. A negative event at EigenLayer or a major restaking operator would simultaneously discount all three.

An AVS slashing event could reduce LRT NAV; oracles would lag by hours, leaving the vault temporarily over-collateralized in name only.

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