Loading chain state…
| Status | Not deployed — unaudited |
|---|---|
| Network | Ethereum mainnet |
| Launch market | WBTC |
| Junior TVL | — |
| Senior TVL | — |
Contracts are written and tested against a mainnet fork, but not yet deployed. Set NEXT_PUBLIC_JUNIOR_VAULT once deployed and this panel goes live.
| Strategy | Deposit WBTC → YieldBasis → yb-WBTC as Morpho collateral → borrow WBTC → repeat |
|---|---|
| Target leverage | 2.00× |
| Measured on fork | 2.0005× at 50.01% LTV |
| Liquidation LLTV | 86.00% |
| Performance fee | 10.00% of yield |
| Round-trip cost | ~66 bp (measured) |
Not yet built. The Senior vault is a MetaMorpho vault supplying WBTC into the same Morpho market the Junior vault borrows from; senior depositors earn the borrow rate the Junior side pays.
| Deposit asset | WBTC |
|---|---|
| Earns | Morpho borrow rate paid by the Junior vault |
| Withdrawal | Any time, subject to current utilisation |
| Not audited | These contracts have had no external audit. Do not deposit funds you cannot afford to lose entirely. |
|---|---|
| Liquidation | Debt and collateral are both BTC-denominated, so LTV is near-invariant to the BTC price. The real risk is yb-WBTC drifting against WBTC — rebalancing drag and TRD. |
| Capacity | YieldBasis markets have a hard ceiling. When full, every deposit reverts. cbBTC is full today; WBTC is not. |
| Exit cost | ~66 bp round trip. Roughly 21 days at target APY to break even. |
| Admin key | Owner is currently a single EOA, not a multisig. It can change the leverage target, fees, and slippage bounds. |