Summary
This proposal aims to whitelist the kpk EURC Yield vault as a curated vault on Ethereum.
The vault allocates USDC across selected Morpho markets under kpk-defined risk parameters, combining conservative allocation design with in-house automation and continuous monitoring.
The goal is to offer a low-risk, real-yield EURC strategy that benefits from kpk’s institutional treasury-management expertise and Morpho’s efficient, isolated lending architecture.
Overview
kpk, the leading on-chain treasury manager, is bringing its curatorship activities to Morpho.
kpk’s curation framework prioritises robust risk management, capital preservation, and stable returns, while leveraging advanced automation to enhance efficiency and responsiveness
Each kpk-curated vault is built on the following principles:
- Conservative strategy design: targeting sustainable yield from reputable, battle-tested markets.
- Rigorous due diligence: thorough assessment of each integrated asset and collateral.
- Risk-tiered allocation: exposure caps per market, with utilisation and liquidity buffers.
- Automated agents: trigger protective or optimising actions in response to real-time conditions.
- Continuous monitoring: 24/7 oversight with clear escalation and intervention procedures.
- Aligned incentives: reward campaigns complement sustainable yield — never replace it.
kpk EURC Yield
The kpk EURC Yield vault is a non-custodial ERC-4626 vault that lends EURC across selected Morpho markets under curator-defined risk limits.
Yield comes from lending rates in underlying borrower markets, dynamically rebalanced to maintain target utilisation and liquidity conditions. Automation ensures that capital remains productive while preserving full withdrawal capacity even under stress.
Documentation: kpk Handbook – Morpho EURC Yield
Automation
kpk vaults integrates a multi-agent automation system that enhances both yield performance and capital safety.
- Rebalancing Agent: actively redistributes exposure across markets to maximise efficiency and maintain target utilisation ranges.
- Exit Agent: monitors liquidity and utilisation in real time, executing timely exits from high-utilisation or deteriorating markets.
In our analysis, automated execution consistently delivers higher realised yields, demonstrating that speed and discipline directly translate into stronger performance.
Market Exposure
The kpk EURC vault deploys capital across a diversified selection of ETH- and BTC-backed Morpho markets, chosen for their liquidity depth, collateral reliability, and stable borrowing demand.
Each market undergoes continuous risk assessment and automated rebalancing to maintain target utilisation and ensure smooth withdrawals under all conditions.
Together, these allocations create a balanced and diversified structure that spans both ETH and BTC collateral types. Automation ensures allocations are continuously optimised for risk, liquidity, and realised yield.