ERC-4626 Vaults

These adapter contracts are ERC-4626 compliant and tokenize supply positions on Morpho.


Morpho's vaults are a new way to interact with Morpho. They expose the ERC-4626 interface described in the related EIP 4626. These contracts represent a tokenized supply position on Morpho.
To interact with a vault you'll need to first approve the vault to spend the underlying on your behalf. Let's say you want to supply some DAI on the related Morpho-Aave Dai Supply Vault: first, you'll approve this vault to spend the amount wanted. Second, you can use one of the two functions available to supply tokens (knowing redeem or mint depending on your will). You'll receive the corresponding token maDAI on your contract or wallet. Its value increases over time while interests are accrued through Morpho-Aave.
You can redeem (or withdraw) your liquidity at any moment to get back your DAI plus the interest earned over time. For more information, on how to integrate Morpho's vaults please refer to the EIP.
The deployed vaults are ready to use and can be found in the deployments section of this documentation.
It's not possible to borrow through such a vault.

Code & Audit

The code of the ERC-4626 Vaults is available here. It was audited by Ominiscia. Learn more about our security practices here.


$MORPHO rewards

Pending governance approval, a new reward distributor contract will be whitelisted to enable $MORPHO rewards for vault users just like any other Morpho users for the Age 2 and following Ages.

Pool rewards

There are currently no rewards on Aave V2 on Mainnet, so Morpho-Aave vaults are not considered in this section.
However, there are still $COMP rewards on Compound and Morpho-Compound vaults are built to take them into account. Supply Vault contract tracks rewards for each vault's user. The rewards are then claimable by the user thanks to the claimRewards(address _user) and send to the _user. Supply Vault's symbol begins with mc for Morpho-Compound vault.
maTokens (resp. mcTokens) refer to a Morpho-Aave (resp. Morpho-Compound) supply position.