Scale your vault
operations

Curators are independent, third-party risk experts who use their expertise to offer various Morpho Vaults. Curators decide which markets the vault allocates to, set risk parameters, and manage the allocation strategy on behalf of depositors. They are not employees of Morpho and compete with each other on risk setting quality and yield.

Anyone can deploy a vault on Morpho. New curators can launch immediately through the Curator App, but attracting deposits at scale typically requires demonstrated risk setting capability, transparent reporting, and a reputation that institutions and depositors will underwrite.

Morpho Markets and Morpho Vaults creation is permissionless, anyone can deploy a market or vault. However, setting the various immutable parameters for a well functioning market, or curate risk using a Morpho Vault, is no trivial task, and requires specific knowledge and appropriate tools.

Morpho Vault V2 uses adapters to connect to different lending markets and yield sources. This architecture is designed to support both Morpho Blue variable rate markets and Morpho Midnight fixed rate markets when the required adapters are available and enabled.

Curators can update allocation strategy and adjust risk parameters within the limits set at deployment. Risk increasing changes are subject to a timelock, giving depositors time to exit before changes take effect. Core protocol parameters are fixed and cannot be changed by any party.

Curators set their own curation fee rate when deploying a vault, and earn that fee directly on the yield their vault generates. There's no revenue share with Morpho and no protocol-level vote that can change the terms.