EURe Yield

The KPK EURe Yield vault allocates across selected blue-chip collateral markets, optimising risk-adjusted yield within isolated lending markets on Morpho. Yield comes from overcollateralised lending rates in underlying markets. Exposure is capped per market, with 24/7 automation and liquidity buffers to preserve smooth withdrawals and stable, risk-adjusted returns.

The vault provides exposure to low-risk EURe yield.

Deposit

Live metrics

Key information

Chain	Arbitrum
Protocol	Morpho
Standard	ERC-4626
Token	EURe
Address	0x7bfdE3A7bd346Da92521D384563F89BB45dE1f60
Markets V1 Adapter	0x3360b4F6B753dafE68F2EaFC96A854C0B48B8Ff7
Liquidity target	≥30%
Fees	0% on performance
forceDeallocation penalty	0.01%

Strategy

The vault supplies EURe to approved Morpho markets and allocates across them using tier-based rules. Allocations are executed through a Morpho v2 adapter component that routes deposits directly into individual Morpho V1 markets. Markets are enabled only after passing due diligence under KPK’s Risk Framework, and each is assigned a risk tier and a per-market cap to limit concentration and enforce diversification.

This vault targets blue-chip collateral markets, with enforced caps and buffers to support instant withdrawable liquidity for depositors.

Vault management is fully automated through three dedicated agents operated by KPK: a rebalance agent, an exit agent, and a monitoring agent. The agents monitor borrow utilisation, APY shifts, price divergence relative to reference venues, oracle liveness, and liquidity depth to keep allocations within risk limits and support competitive yields, alongside depositor and third-party activity against the vault itself.

Risk framework

This vault follows KPK’s Risk Framework for market selection (onchain/offchain review, external signals), tiering, and ongoing monitoring. Material parameter changes and their rationale are recorded in the Changelog page.

Risk-tier snapshot

Market exposure	Issuer	Risk tier	Allocation cap	LLTV	Oracle
wstETH/EURe	Lido	A	90%	86%	Chainlink
WBTC/EURe	BitGo	A	90%	86%	Chainlink
WETH/EURe	–	A	90%	86%	Chainlink
USDC/EURe	Circle	A	90%	91.5%	Chainlink

Key risks

• Liquidity and utilisation risk in underlying markets affecting withdrawal latency

• Oracle risk (manipulation, staleness, or failure), affecting pricing and liquidations

• Concentration risk across enabled markets

• Smart-contract and dependency risk (Morpho, collateral assets, and oracle systems)

These risks are actively monitored and managed, but cannot be fully eliminated. See the Morpho Disclaimer.

Governance and controls

Critical actions follow a layered process designed for transparency, security, and timely response. The Curator and allocator Safe (2/5), with a Permissions Layer for agents, is 0xb3E0fe1ac9AcaBC64132171CD88A91312Da71C25.