Milestones
- Morpho Vaults V2 launch2025Complete.
- Vaults TVL exceeds $500MQ2 2026Complete.
- Vaults TVL reaches $800MTarget Q4 2026Current milestone.
Upcoming
- Q4 2026Vaults TVL reaches $800M (next)
$800M+ in Vaults V2; curated allocation across Blue markets for institutions and retail.
Checked 10 Oct0 updates this week
A curator (Steakhouse Finance, or a protocol like Coinbase) approves Blue markets and decides how much capital to allocate to each.
Users deposit a single asset (usually USDC) into a vault without choosing markets; the curator handles rebalancing across approved pairs.
Vault yields come from interest earned across the underlying Blue markets; no arbitrage or yield farming required.
| Spec | Morpho Vaults |
|---|---|
| Morpho Vaults V2 TVL | $800M+R (reported) |
R reported by the company
Morpho Labs
DeFi lending, Morpho Blue, Morpho Vaults
Morpho Labs operates an open credit network connecting lenders and borrowers. Morpho Blue is a permissionless lending market; Morpho Vaults curates capital across Blue markets. Institutions like Coinbase and Kraken use Morpho. June 2026: $175M raised at $2B valuation.