[MEV Capital] WBTC Vault Updates

Vaults MEV Capital
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MEV Capital WBTC vault was launched in September 2024. This thread below provides an overview of the vault’s characteristics and features.

About MEV Capital

MEV Capital is a fund with over $350m in assets under management, specializing in optimizing investment strategies in DeFi under a market neutral mandate. MEV Capital is currently active on Morpho through several vaults including ETH-based, BTC-based and USD-based markets.

Highlights

The MEV Capital WBTC vault was whitelisted on September 29th on Morpho Vaults. It allows exposure to the BTC LRTs in the ecosystem across different markets.

Following the technical incident on the Bedrock protocol on Thursday 26/09, the supply cap on the uniBTC/WBTC market has been set to 0.

We are also using a hardcoded price feed on the uniBTC/WBTC market.

This type of price feed, which is used on various assets such as cbBTC on Base, helps borrowers avoid flash liquidations caused by a lack of liquidity in the asset. As a result, the risk of bad debt is greatly reduced.

Bedrock has also integrated the Proof of Reserve standard to further secure the protocol. You can find the details of this addition here.

Vault Info

  • Adress : 0x1c530D6de70c05A81bF1670157b9d928e9699089
  • Symbol : MCWBTC

Market Specifications

The MEV Capital WBTC Vault allocates capital to the following markets:

  • LBTC/WBTC (94.5%) :

    • Collateral asset : LBTC
    • Borrow Asset : WBTC
    • Supply Cap : 130 WBTC
    • LLTV : 94.5%
    • Oracle : Redstone - LBTC/BTC - 0xa98105B8227E0f2157816Feb7A331364A9B74F80
    • IRM : Adaptive Curve 0x870aC11D48B15DB9a138Cf899d20F13F79Ba00BC
    • Incentives: X3 Lux for the borrowers and X2 Lux for the suppliers (from the vault)

  • uniBTC/WBTC

    • Collateral asset : uniBTC
    • Borrow Asset : WBTC
    • Supply Cap : 0
    • LLTV : 86%
    • Oracle : uniBTC/WBTC + WBTC/BTC - 0xfdFD9C85aD200c506Cf9e21F1FD8dd01932FBB23
    • IRM : Adaptive Curve - 0x870aC11D48B15DB9a138Cf899d20F13F79Ba00BC

Vault Fee

The performance fee for the vault is fixed at 10%.

Next steps

As with the MEV Capital curated vaults, the WBTC vault will soon be integrated into the Aragon guardian module. This integration enhances the vault’s security and its decentralization.

Regular updates will be provided to reflect the latest composition of the vault.

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