Morpho Gauntlet USDC Frontier is a lending vault on Ethereum curated by Gauntlet. It allocates USDC deposits across Morpho Blue lending markets targeting higher-risk collateral for maximum yield.
AUM
$2m
Net APY
0.77%
Active Users
164
Type
Vault
Network
Ethereum
CCC+
High RiskCeiling B+
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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 CCC+ to B+ reflects the gap between the current assessment and the potential rating achievable if all identified improvement areas are addressed.
SCSSmart Contract Security80
KMPKey Management Permissions92
MMarket42
LLiquidity36
CCollateral18
PMProtocol Mechanics28
ICEInfra Counterparty Exposures48
PCEProtocol Counterparty Exposures42
GGovernance100
FRFinancial Resilience51
TLCTeam Legal Compliance68
DTDocumentation Transparency100
Performance
Assets Under Management · 30D▼ 29.47%
$2m
Over the last 30 days, the total value of Morpho Gauntlet USDC Frontier has dropped 29.47% with $798.50K in outflows.
Net APY · 30D▼ 65.32%
0.77%
Over the last 30 days, the APY has decreased from 2.22% to 0.77%.
Active Users · 30D▲ 0.00%
164
Over the last 30 days, active users have increased by 0.00%, reaching 164 wallets.
Market Details
ChainEthereum
Treasury$34.08M
Oracles UsedChainlink ↗Morpho Custom Oracle Adapters ↗
Asset ManagerGauntlet
Stated Withdrawal TimeInstant
Infrastructure ProviderMorpho
Component Ratings
Contract Addresses
Smart Contract0xc582...7b754e
Guardian0x7084...3584cD
MorphoBlue0xBBBB...EEFFCb
OwnerMultisig0xC684...05fAec
CuratorMultisig0x9E33...410585
Key Strengths
S1Morpho Blue core is immutable with extensive audit coverage from top firms (ChainSecurity, Spearbit, Zellic, Certora) and formal verification, representing industry-leading smart contract security
S2Vault Owner is a verified 4-of-7 multisig with 3-day timelock, Guardian is 3-of-7, and Curator is 3-of-7, all confirmed on-chain
S3Active bug bounty on Cantina with significant maximum payout covering both V1 and V2 contracts
S4Gauntlet Networks Inc. is a well-funded US-based company with publicly identified leadership and comprehensive vault documentation
Key Risks
R1March 2026 Resolv USR exploit caused confirmed bad debt across multiple markets at 100% utilization, representing the first confirmed loss in a Gauntlet vault
R2Morpho's immutable oracle design was exploited as stale prices continued valuing collapsed collateral at pre-exploit levels, an architectural limitation with no correction mechanism
R3The supplyOnBehalf function bypassed vault-level supply caps, force-allocating capital into compromised markets while automated allocation continued for hours with no circuit breakers
R4Severe TVL decline after two major contagion events in five months, with significant portions of remaining TVL frozen at 100% utilization across stressed markets
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