| Underlying | USDC |
|---|---|
| Chain | Ethereum |
| Infrastructure | Morpho |
| Address | 0x4Ef53d2cAa51C447fdFEEedee8F07FD1962C9ee6 |
|---|---|
| Redemptions | Instant. Liquidity target 75-100% |
| Fee | … |
The KPK USDC Prime 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 USDC yield.
The vault supplies USDC 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.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | YTD | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | 0.4%* | 0.3% | 0.67%* | ||||||||||
| 2026 | 0.3% | 0.2% | 0.3% | 0.3% | 0.3% | 0.3% | 0.3% | 0.3% | 0.4% | 0.3%* | 3.14% |
| Market exposure | Risk tier | LLTV |
|---|---|---|
| A | 86% | |
| A | 86% | |
| A | 86% | |
| A | 86% | |
| B | 86% | |
| B | 86% | |
| B | 86% |
KPK applies a conservative risk approach. Assets, markets, and decentralised applications undergo a proprietary RISC Framework (Risk Identification, Scoring & Control) review across 12 risk dimensions.
| Protocol | Interaction restricted to audited, battle-tested protocols, with regular reviews. |
|---|---|
| Operational | Role-based access control is enforced onchain via Roles Modifier contracts. No key can move assets outside the mandate. |
| Market | Rewards are swapped to the deposit token on receipt, so the product holds no unintended token exposure. |
| Liquidity | No lock-up protocols used. A liquidity buffer in the deposit token is kept to ensure exit flexibility. |
| Governance | Preference for decentralised governance, with active monitoring. |
| Infrastructure | Networks with strong uptime records, monitored around the clock. |
| Regulatory | Exposure limited to fully collateralised assets and transparent protocols. |
KPK is a noncustodial onchain asset manager operating treasury mandates, Funds, and Vaults for DAOs, foundations and institutions across DeFi since 2020. Over $2bn have been deployed onchain, totalling 16,000+ transactions and zero funds lost.
KPK designs bespoke investment strategies, managing capital allocation, token liquidity, and execution within predefined risk constraints set by clients’ long-term objectives.
Morpho is a lending protocol in which ERC-4626 vaults take a single deposit asset and allocate it across isolated lending markets, each with its own collateral, oracle and liquidation threshold. Curators decide which markets a vault may use and set its safeguards; depositors earn the lending yield.
KPK acts as risk curator under its Risk Framework. How each vault's venues, limits and monitoring are set is documented in the KPK docs.
Vaults curated by KPK are non-custodial smart contracts and may carry significant risks, including possible loss of assets. KPK does not provide investment, legal, or financial advice. Past performance does not guarantee future results.
The information provided is for general informational purposes only and may be updated or amended at any time without notice. It does not constitute financial, legal, tax, or other professional advice. Participation in crypto-assets involves significant risk, including high volatility and the potential loss of your entire investment. Returns are not guaranteed.