A vault is a smart contract that allocates deposited assets across lending markets to generate yield.
When you deposit crypto into Earn, you can choose between the available Morpho vaults. Each vault follows its own strategy and may offer a different APY.
What is the difference between vaults?
Vaults may differ in:
APY – the estimated annual return may vary between vaults.
Strategy – each vault may allocate funds differently across Morpho lending markets.
Risk profile – different allocation strategies and markets may involve different levels of risk.
For example, you may see Utorg Prime and Utorg Yield available when making a deposit. Their current APYs are displayed directly in the app, so you can compare them before choosing where to deposit your assets.
Can the APY of a vault change?
Yes. Vault APYs are variable and can change over time based on lending market conditions.
The APY displayed when you make a deposit is an estimate and is not guaranteed for the entire period your assets remain in the vault.
Can I choose a vault?
Yes. When more than one vault is available, you can select the vault you want to use before confirming your deposit.
You can compare the available options and their current APYs directly on the deposit screen.