Morpho Gauntlet LRT Core is a MetaMorpho V1 lending vault on Ethereum curated by Gauntlet. It lends WETH deposits across Morpho Blue markets against liquid (re)staking token collateral, primarily Ether.fi weETH and Lido wstETH. Yield is generated from borrower interest, net of a 10% performance fee.
AUM
$3m
Net APY
1.54%
Active Users
135
Type
Vault
Network
Ethereum
BB-
Elevated RiskCeiling A+
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CurrentPotential
This rating is based solely on publicly available information. DeFi protocol risk assessed across Security, Strategy and Operations on the AAA–D scale. The range from BB- to A+ reflects the gap between the current assessment and the potential rating achievable if all identified improvement areas are addressed.
SCSSmart Contract Security88
KMPKey Management Permissions92
MMarket60
LLiquidity70
CCollateral50
PMProtocol Mechanics70
ICEInfra Counterparty Exposures83
PCEProtocol Counterparty Exposures73
GGovernance100
FRFinancial Resilience69
TLCTeam Legal Compliance78
DTDocumentation Transparency100
Performance
Assets Under Management · 30D▼ 12.93%
$3m
Over the last 30 days, the total value of Morpho Gauntlet LRT Core has dropped 12.93% with $409.27K in outflows.
Net APY · 30D▲ 1.32%
1.54%
Over the last 30 days, the APY has increased from 1.52% to 1.54%.
Active Users · 30D▼ 6.25%
135
Over the last 30 days, active users have decreased by 6.25%, reaching 135 wallets.
Market Details
ChainEthereum
Treasury$23.40M
Oracles UsedChainlink ↗Chainlink weETH/ETH Feed ↗Morpho Chainlink Oracle Adapters (per-market, immutable; LST exchange-rate feeds) ↗
Asset ManagerGauntlet
Stated Withdrawal TimeInstant
Infrastructure ProviderMorpho
Component Ratings
Contract Addresses
Smart Contract0x4881...CE0658
MorphoBlue0xBBBB...EEFFCb
OwnerMultisig0xC684...05fAec
CuratorMultisig0x9E33...410585
Collateral_weETH0xCd5f...59b7ee
GuardianMultisig0x7084...3584cD
Collateral_wstETH0x7f39...5E2Ca0
Key Strengths
S1Built on Morpho's industry-leading smart-contract infrastructure: extensive audit coverage from top firms, an immutable Morpho Blue core, formal verification, and large dual bug bounties.
S2Robust on-chain key management with a multisig owner plus separate guardian and curator multisigs, a multi-day timelock, and a non-upgradeable ERC4626 vault so no single key can move user funds.
S3Unaffected by the March 2026 Resolv exploit: the vault holds no synthetic collateral and tracked ETH normally through the event with no impairment, remaining fully functional with permissionless withdrawals.
S4Backed in part by battle-tested wstETH collateral (the largest liquid-staking token), with the loan and redemption asset being deeply liquid wrapped ETH.
Key Risks
R1Collateral is almost entirely liquid (re)staking tokens, dominated by a single restaked-ETH market that carries EigenLayer restaking-slashing risk and is less battle-tested than established staking tokens.
R2Thin liquidation buffers on the high-LLTV (re)staking collateral leave little room before liquidation, so a peg dislocation could force liquidations into bad debt. (Morpho market data)
R3A small, young vault with no demonstrated stress-resilience track record, so exit-liquidity, bank-run, and share-NAV behavior under stress remain untested. (Morpho data)
R4Immutable per-market oracles with no fallback cannot be corrected under abnormal conditions, and there are no automatic on-chain circuit breakers; automated allocation can increase exposure without real-time human approval.
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