WintermuteConfidential WBTC

Ethereum

Confidential WBTC vault is created by Armitage unlocking the yield for WBTC by allocating it to select markets. Users can deposit Confidential WBTC cWBTC in batches via the Zama app at app.zama.org.

Total Deposits

$602.85k

7.17 WBTC

Liquidity

$143.58k

1.7 WBTC

Exposure

Net APY

5.00

%

Overview

Vault Configuration

Morpho vault version

v2

Vault deployment date

2026-09-08

Curator TVL

$145.64M

Total Deposits (USD)

$602.71k

Net APY

5.00%

APY Breakdown

Vault Net APY

1.87%

ZAMA

+3.12%

Performance Fee

0%

Management Fee

0.4%

Allocation

Exposure

Markets	Allocation (%)	Allocation (WBTC)	Liquidity (WBTC)	Underlying Liquidity (WBTC)	Utilization	Absolute Cap	Relative Cap	APY
Variable Rate Markets
WBTCbacked byv-wmtWBTC 86% LLTV	46.24%	3.31	0.31	0.31	90.42%	75	100%	2.73%
WBTCbacked byarmUSDCp 77% LLTV	26.33%	1.89	0.18	0.18	90.00%	100	100%	2.50%
WBTCbacked bywstETH 86% LLTV	12.32%	0.88	0.88	0.88	< 0.01%	Infinite	100%	< 0.01%
WBTCbacked byarmUSDTp 77% LLTV	11.62%	0.83	0.06	0.06	91.79%	100	100%	2.88%
WBTCbacked byLBTC 86% LLTV	3.48%	0.25	0.25	0.25	< 0.01%	75	100%	< 0.01%
Idle Liquidity
	0%	< 0.01	< 0.01	-	-	-	-	-

Exposure

Allocation History

Date	Amount	Vault / Market
2026-09-25 15:04:47	+0.410749 WBTC+$34.50k	WBTCbacked bywstETH 86% LLTV
2026-09-23 15:04:47	+0.464749 WBTC+$39.03k	WBTCbacked bywstETH 86% LLTV
2026-09-22 22:07:59	+0.11774 WBTC+$9889.65	WBTCbacked byv-wmtWBTC 86% LLTV
2026-09-22 22:07:59	-0.11774 WBTC-$9889.65	WBTCbacked bywstETH 86% LLTV
2026-09-22 17:10:35	+0.120647 WBTC+$10.13k	WBTCbacked bywstETH 86% LLTV

1

Performance

Position Unit Price (WBTC)

1.000428

Returns

Instant APY

5%

7D APY

1.28%

30D APY

-

90D APY

-

Fees

Performance fee

0%

Management fee

0.4%

Performance fee recipient

0xB83A77677c51aAf6c45b0b64199eAe6938559E5e

Management fee recipient

0x1B9ad7B12ccDF24b33e85138066638D9b1F60d14

Returns

Instant APY

7D APY

30D APY

90D APY

Fees

Performance fee

Management fee

Performance fee recipient

Management fee recipient

Risk

Risk Disclosures

Curator has not submitted a Disclosure.

Ratings

No ratings available for this vault.

Ratings

Vault Roles

Owner

SAFE 4/6

Curator

SAFE 3/5

Sentinel 1

0x77fcF2c8BB9c6a0DA2D21F331E15Fd83A63E9Fbe

Risk Curation

Allocator 1

0x12F6e7646808aA948bA7a625Ef6E02f55efC684B

Allocator 2

0x73b40E49EB625e6B2EE8E41C8a5509F3e206a53b

Allocator 3

0xC007EB51E3d3285D192F43A35A7A5dAcC35A8D99

Timelocks

These timelocks show how much time lenders have to review upcoming increases to vault exposure, including new adapters or higher limits for a vault's allocation strategy.

Add adapter

Time before a curator can enable a new adapter to the vault

7 days

Increase absolute cap

Time before a curator can raise the maximum amount supplied to an allocation

3 days

Recommended: 7 days

Increase relative cap

Time before a curator can raise the maximum share of the vault supplied to an allocation

3 days

Recommended: 7 days

Activity

User Distribution

User	Deposit	% of Deposits
	4.60049 WBTC$386.32k	64.09%
	2.510702 WBTC$210.83k	34.98%
	0.055699 WBTC$4677.42	0.77%
	0.010004 WBTC$840.14	0.13%
	0.000285 WBTC$23.95	< 0.01%

of

User Distribution

All Transactions

Date	Type	Amount
2026-09-26 11:04:47	Transfer	-
2026-09-26 11:04:47	Transfer	-
2026-09-25 15:04:47	Transfer	-
2026-09-25 15:04:47	Deposit	0.410749 WBTC$34.50k
2026-09-25 11:04:47	Transfer	-
2026-09-25 11:04:47	Transfer	-
2026-09-24 11:04:59	Transfer	-
2026-09-24 11:04:59	Transfer	-
2026-09-23 23:41:59	Transfer	-
2026-09-23 15:04:47	Transfer	-

1

All Transactions

Deposit WBTC

$0

0.00 WBTC

Network

Ethereum

Deposit (WBTC)

0.00

APY

5.00%

Projected monthly earnings

$0.00

Projected yearly earnings

$0.00

Ratings

No ratings available for this vault.

Deposit WBTC

$0

0.00 WBTC

Network

Ethereum

Deposit (WBTC)

0.00

APY

5.00%

Projected monthly earnings

$0.00

Projected yearly earnings

$0.00

Position Unit Price (WBTC)

1.000428

User Distribution

User	Deposit	% of Deposits
	4.60049 WBTC$386.32k	64.09%
	2.510702 WBTC$210.83k	34.98%
	0.055699 WBTC$4677.42	0.77%
	0.010004 WBTC$840.14	0.13%
	0.000285 WBTC$23.95	< 0.01%

of

Total Deposits (USD)

$602.71k

Allocation History

Exposure

Markets	Allocation (%)	Allocation (WBTC)	Liquidity (WBTC)	Underlying Liquidity (WBTC)	Utilization	Absolute Cap	Relative Cap	APY
Variable Rate Markets
WBTCbacked byv-wmtWBTC 86% LLTV	46.24%	3.31	0.31	0.31	90.42%	75	100%	2.73%
WBTCbacked byarmUSDCp 77% LLTV	26.33%	1.89	0.18	0.18	90.00%	100	100%	2.50%
WBTCbacked bywstETH 86% LLTV	12.32%	0.88	0.88	0.88	< 0.01%	Infinite	100%	< 0.01%
WBTCbacked byarmUSDTp 77% LLTV	11.62%	0.83	0.06	0.06	91.79%	100	100%	2.88%
WBTCbacked byLBTC 86% LLTV	3.48%	0.25	0.25	0.25	< 0.01%	75	100%	< 0.01%
Idle Liquidity
	0%	< 0.01	< 0.01	-	-	-	-	-

Owner

SAFE 4/6

Curator

SAFE 3/5

Sentinel 1

0x77fcF2c8BB9c6a0DA2D21F331E15Fd83A63E9Fbe

Morpho vault version

v2

Vault deployment date

2026-09-08

Curator TVL

$145.64M

Allocator 1

0x12F6e7646808aA948bA7a625Ef6E02f55efC684B

Allocator 2

0x73b40E49EB625e6B2EE8E41C8a5509F3e206a53b

Allocator 3

0xC007EB51E3d3285D192F43A35A7A5dAcC35A8D99

These timelocks show how much time lenders have to review upcoming increases to vault exposure, including new adapters or higher limits for a vault's allocation strategy.

Add adapter

Time before a curator can enable a new adapter to the vault

7 days

Increase absolute cap

Time before a curator can raise the maximum amount supplied to an allocation

3 days

Recommended: 7 days

Increase relative cap

Time before a curator can raise the maximum share of the vault supplied to an allocation

3 days

Recommended: 7 days

All Transactions

Date	Type	Amount
2026-09-26 11:04:47	Transfer	-
2026-09-26 11:04:47	Transfer	-
2026-09-25 15:04:47	Transfer	-
2026-09-25 15:04:47	Deposit	0.410749 WBTC$34.50k
2026-09-25 11:04:47	Transfer	-
2026-09-25 11:04:47	Transfer	-
2026-09-24 11:04:59	Transfer	-
2026-09-24 11:04:59	Transfer	-
2026-09-23 23:41:59	Transfer	-
2026-09-23 15:04:47	Transfer	-

1

Date	Amount	Vault / Market
2026-09-25 15:04:47	+0.410749 WBTC+$34.50k	WBTCbacked bywstETH 86% LLTV
2026-09-23 15:04:47	+0.464749 WBTC+$39.03k	WBTCbacked bywstETH 86% LLTV
2026-09-22 22:07:59	+0.11774 WBTC+$9889.65	WBTCbacked byv-wmtWBTC 86% LLTV
2026-09-22 22:07:59	-0.11774 WBTC-$9889.65	WBTCbacked bywstETH 86% LLTV
2026-09-22 17:10:35	+0.120647 WBTC+$10.13k	WBTCbacked bywstETH 86% LLTV

1

Returns

Instant APY

5%

7D APY

1.28%

30D APY

-

90D APY

-

Fees

Performance fee

0%

Management fee

0.4%

Performance fee recipient

0xB83A77677c51aAf6c45b0b64199eAe6938559E5e

Management fee recipient

0x1B9ad7B12ccDF24b33e85138066638D9b1F60d14

Net APY

5.00%

APY Breakdown

Vault Net APY

1.87%

ZAMA

+3.12%

Performance Fee

0%

Management Fee

0.4%

WintermuteConfidential WBTC

Ethereum

Confidential WBTC vault is created by Armitage unlocking the yield for WBTC by allocating it to select markets. Users can deposit Confidential WBTC cWBTC in batches via the Zama app at app.zama.org.

Total Deposits

$602.85k

7.17 WBTC

Liquidity

$143.58k

1.7 WBTC

Exposure

Net APY

5.00

%