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SwissBorg Morpho USDC

0x4ff4186188f8406917293a9e01a1ca16d3cf9e59View on depeg monitor →

etherc4626 vault17.3 (low)Needs attentionStale (53d)

Last scored: 4/16/2026, 9:25:18 AM⚠ May be stale

Low risk17.3/100High risk

Top 3 risk drivers

  1. Centralization40 pts(+4.80 to score)
  2. Strategy50 pts(+2.50 to score)
  3. Closed liquidity10 pts(+1.20 to score)

Share price: $1.0734

Score history (30d, 63 snapshots)+48 pts since 2026-04-02
856050100

Alert History

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✓ Safe to list

Low composite risk score. Standard disclosures apply.

TVL trend

TVL down 2680% in 30 days— outflow risk

What's in this vault

Deposits

USDC

LST / LRT collateral— 40.0% of TVL

wstETH

LST/LRT collateral carries redemption lag — under correlated sell pressure, exit queues can stretch hours to days.

What this vault is exposed to

You deposit USDC. Here's what backs your position.

wstETH
40.0%
$4.6M86% LTV
WBTC
40.0%
$4.6M86% LTV
cbBTC
20.0%
$2.3M86% LTV
?
0.0%
$569

Source: Morpho markets

Rating breakdown

Sub-scores sorted by contribution. Each bar is relative to the top contributor.

liquidation_proximity85
TVL outflow53.7
Strategy50
Centralization40
oracle20
utilization15
Closed liquidity10
Asset5
fee_drain5
Depeg4
Protocol risk1

Score 17 (LOW). Primary drivers: centralized governance, complex strategy.

Risk flags

deposit_cap_reachedDeposits closedEOA ownerHigh utilisationliquidation_proximity_riskLST redemption lagmetamorpho_fork_donation_risk

Recursive lending & looping

Loop exposure

0.0%

Trading Strategy technical risk

From Trading Strategy's Vault Technical Risk Framework

Negligible

Funding regime

Perp funding rate data (healthy vs compressed/inverted) will indicate when vault yield is from stable vs stressed conditions. Coming soon.