WintermuteUSDC Select

Ethereum

Armitage Select vaults consist of existing blue-chip high-TVL markets expanded by a few select higher-yield opportunities. It provides a higher yield compared to Prime while maintaining balanced risk exposure.

Total Deposits

$44.35M

44.35M USDC

Liquidity

$39.35M

39.36M USDC

Exposure

+3

Net APY

4.87

%

Overview

Vault Configuration

Morpho vault version

v2

Vault deployment date

2026-04-22

Curator TVL

$134.27M

Total Deposits (USD)

$44.35M

Net APY

4.87%

APY Breakdown

Vault Net APY

4.84%

USDC

+0.02%

Performance Fee

0%

Management Fee

0%

Allocation

Exposure

Markets	Allocation (%)	Allocation (USDC)	Liquidity (USDC)	Underlying Liquidity (USDC)	Utilization	Absolute Cap	Relative Cap	APY
Variable Rate Markets
USDCbacked bycbBTC 86% LLTV	41.96%	18.61M	18.61M	33.42M	90.16%	100M	100%	4.27%
USDCbacked byWBTC 86% LLTV	20.63%	9.15M	9.15M	14.41M	88.55%	100M	100%	3.96%
USDCbacked byPT-reUSD-10DEC2026 91.5% LLTV	19.46%	8.63M	8.63M	15.32M	84.76%	10M	100%	6.51%
USDCbacked byv-wmtUSDC 86% LLTV	11.7%	5.19M	516.08k	516.08k	90.06%	25M	100%	6.05%
USDCbacked bywstETH 86% LLTV	5.16%	2.28M	2.28M	3.04M	90.18%	100M	100%	4.27%
USDCbacked byPT-USDat-14JAN2027 91.5% LLTV	0.94%	418.31k	95.45k	95.45k	89.45%	5M	100%	3.30%
USDCbacked byreUSD 91.5% LLTV	0.14%	60.25k	60.25k	999.96k	85.39%	10M	100%	5.28%
USDCbacked byPT-USDG-24SEP2026 91.5% LLTV	0%	< 0.01	< 0.01	413.49k	90.00%	5M	100%	1.81%
Idle Liquidity
	0%	0	0	-	-	-	-	-

Exposure

Allocation History

Date	Amount	Vault / Market
2026-09-14 20:45:35	+2,020.92 USDC+$2020.66	USDCbacked bywstETH 86% LLTV
2026-09-14 20:45:35	+16,439.83 USDC+$16.43k	USDCbacked bycbBTC 86% LLTV
2026-09-14 20:45:35	+8,083.64 USDC+$8082.58	USDCbacked byWBTC 86% LLTV
2026-09-14 20:45:35	-26,544.39 USDC-$26.54k	USDCbacked byPT-USDat-14JAN2027 91.5% LLTV
2026-09-14 20:42:59	+32.706 USDC+$32.70	USDCbacked byv-wmtUSDC 86% LLTV

1

Performance

Position Unit Price (USDC)

1.017338

Returns

Instant APY

4.87%

7D APY

5.24%

30D APY

5.03%

90D APY

4.77%

Fees

Performance fee

0%

Management fee

0%

Performance fee recipient

No address

Management fee recipient

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

7 days

Increase relative cap

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

7 days

Activity

User Distribution

User	Deposit	% of Deposits
	30,450,615.66 USDC$30.44M	68.64%
	6,259,309.02 USDC$6.25M	14.11%
	1,009,676.42 USDC$1.00M	2.27%
	830,274.65 USDC$830.17k	1.87%
	671,030.35 USDC$670.94k	1.51%

of

User Distribution

All Transactions

Date	Type	Amount
2026-09-14 19:49:59	Deposit	1 USDC$0.99
2026-09-14 19:21:11	Transfer	-
2026-09-14 19:21:11	Transfer	-
2026-09-14 14:06:35	Withdraw	200,000 USDC$199.97k
2026-09-14 13:55:59	Transfer	-
2026-09-14 06:11:35	Deposit	10,000 USDC$9998.74
2026-09-14 03:28:35	Deposit	374.976 USDC$374.92
2026-09-13 23:43:59	Withdraw	300,000 USDC$299.96k
2026-09-13 15:53:35	Deposit	50,000 USDC$49.99k
2026-09-13 15:36:47	Deposit	50,125.55 USDC$50.11k

1

All Transactions

Deposit USDC

$0

0.00 USDC

Network

Ethereum

Deposit (USDC)

0.00

APY

4.87%

Projected monthly earnings

$0.00

Projected yearly earnings

$0.00

Ratings

No ratings available for this vault.

Position Unit Price (USDC)

1.017338

Deposit USDC

$0

0.00 USDC

Network

Ethereum

Deposit (USDC)

0.00

APY

4.87%

Projected monthly earnings

$0.00

Projected yearly earnings

$0.00

Exposure

Markets	Allocation (%)	Allocation (USDC)	Liquidity (USDC)	Underlying Liquidity (USDC)	Utilization	Absolute Cap	Relative Cap	APY
Variable Rate Markets
USDCbacked bycbBTC 86% LLTV	41.96%	18.61M	18.61M	33.42M	90.16%	100M	100%	4.27%
USDCbacked byWBTC 86% LLTV	20.63%	9.15M	9.15M	14.41M	88.55%	100M	100%	3.96%
USDCbacked byPT-reUSD-10DEC2026 91.5% LLTV	19.46%	8.63M	8.63M	15.32M	84.76%	10M	100%	6.51%
USDCbacked byv-wmtUSDC 86% LLTV	11.7%	5.19M	516.08k	516.08k	90.06%	25M	100%	6.05%
USDCbacked bywstETH 86% LLTV	5.16%	2.28M	2.28M	3.04M	90.18%	100M	100%	4.27%
USDCbacked byPT-USDat-14JAN2027 91.5% LLTV	0.94%	418.31k	95.45k	95.45k	89.45%	5M	100%	3.30%
USDCbacked byreUSD 91.5% LLTV	0.14%	60.25k	60.25k	999.96k	85.39%	10M	100%	5.28%
USDCbacked byPT-USDG-24SEP2026 91.5% LLTV	0%	< 0.01	< 0.01	413.49k	90.00%	5M	100%	1.81%
Idle Liquidity
	0%	0	0	-	-	-	-	-

Allocation History

User Distribution

User	Deposit	% of Deposits
	30,450,615.66 USDC$30.44M	68.64%
	6,259,309.02 USDC$6.25M	14.11%
	1,009,676.42 USDC$1.00M	2.27%
	830,274.65 USDC$830.17k	1.87%
	671,030.35 USDC$670.94k	1.51%

of

Total Deposits (USD)

$44.35M

All Transactions

Date	Type	Amount
2026-09-14 19:49:59	Deposit	1 USDC$0.99
2026-09-14 19:21:11	Transfer	-
2026-09-14 19:21:11	Transfer	-
2026-09-14 14:06:35	Withdraw	200,000 USDC$199.97k
2026-09-14 13:55:59	Transfer	-
2026-09-14 06:11:35	Deposit	10,000 USDC$9998.74
2026-09-14 03:28:35	Deposit	374.976 USDC$374.92
2026-09-13 23:43:59	Withdraw	300,000 USDC$299.96k
2026-09-13 15:53:35	Deposit	50,000 USDC$49.99k
2026-09-13 15:36:47	Deposit	50,125.55 USDC$50.11k

1

Owner

SAFE 4/6

Curator

SAFE 3/5

Sentinel 1

0x77fcF2c8BB9c6a0DA2D21F331E15Fd83A63E9Fbe

Morpho vault version

v2

Vault deployment date

2026-04-22

Curator TVL

$134.27M

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

7 days

Increase relative cap

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

7 days

Date	Amount	Vault / Market
2026-09-14 20:45:35	+2,020.92 USDC+$2020.66	USDCbacked bywstETH 86% LLTV
2026-09-14 20:45:35	+16,439.83 USDC+$16.43k	USDCbacked bycbBTC 86% LLTV
2026-09-14 20:45:35	+8,083.64 USDC+$8082.58	USDCbacked byWBTC 86% LLTV
2026-09-14 20:45:35	-26,544.39 USDC-$26.54k	USDCbacked byPT-USDat-14JAN2027 91.5% LLTV
2026-09-14 20:42:59	+32.706 USDC+$32.70	USDCbacked byv-wmtUSDC 86% LLTV

1

Returns

Instant APY

4.87%

7D APY

5.24%

30D APY

5.03%

90D APY

4.77%

Fees

Performance fee

0%

Management fee

0%

Performance fee recipient

No address

Management fee recipient

Net APY

4.87%

APY Breakdown

Vault Net APY

4.84%

USDC

+0.02%

Performance Fee

0%

Management Fee

0%

WintermuteUSDC Select

Ethereum

Armitage Select vaults consist of existing blue-chip high-TVL markets expanded by a few select higher-yield opportunities. It provides a higher yield compared to Prime while maintaining balanced risk exposure.

Total Deposits

$44.35M

44.35M USDC

Liquidity

$39.35M

39.36M USDC

Exposure

+3

Net APY

4.87

%