Morpho Vault Bridge WBTC is a lending vault on Ethereum that lends WBTC deposits across Morpho Blue markets as part of the Agglayer Vault Bridge infrastructure connecting L2 chains to Ethereum yield. Yield is generated from overcollateralized WBTC lending interest.
AUM
$32m
Net APY
0%
Active Users
18
Type
Vault
Network
Ethereum
B
Elevated RiskCeiling BBB-
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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 B to BBB- 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
LLiquidity63
CCollateral28
PMProtocol Mechanics63
ICEInfra Counterparty Exposures83
PCEProtocol Counterparty Exposures87
GGovernance100
FRFinancial Resilience56
TLCTeam Legal Compliance78
DTDocumentation Transparency67
Performance
Assets Under Management · 30D▼ 46.84%
$32m
Over the last 30 days, the total value of Morpho Vault Bridge WBTC has dropped 46.84% with $28.56M in outflows.
Net APY · 30D▼ 100.00%
0%
Over the last 30 days, the APY has decreased from NaN% to 0.00%.
Active Users · 30D▲ 0.00%
18
Over the last 30 days, active users have increased by 0.00%, reaching 18 wallets.
Market Details
ChainEthereum
Treasury$33.80M
Oracles UsedChainlink ↗
Asset ManagerGauntlet
Stated Withdrawal TimeInstant
Infrastructure ProviderMorpho
Component Ratings
Contract Addresses
Smart Contract0x812B...017427
Guardian0x7084...3584cD
MorphoBlue0xBBBB...EEFFCb
OwnerMultisig0xC684...05fAec
CuratorMultisig0x9E33...410585
Key Strengths
S1Extensive audit coverage from top firms with formal verification by Certora and an immutable Morpho Blue core
S2Robust verified governance with multi-layered multisig controls and a 3-day timelock, verified on-chain via Safe Transaction Service API
S4Permissionless withdrawals via non-custodial ERC4626 architecture with no admin pause capability
Key Risks
R1WBTC relies on BitGo/BiT Global multi-jurisdictional custody with governance concerns that led to Coinbase delisting and reduced Sky/MakerDAO exposure
R2Total wrapped asset concentration across both loan asset and all borrower collateral creates deep layered custody dependencies
R3Monitoring systems are not connected to automated on-chain protections, as demonstrated when automated allocation continued supplying capital to compromised markets during the Resolv exploit
R4Curator linked to bad debt in comparable Gauntlet-curated vaults from the Resolv USR exploit, though this vault was unaffected
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