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

$44.54M

44.55M USDC

Liquidity

$39.41M

39.42M USDC

Exposure

+3

Net APY

4.93

%

Overview

Vault Configuration

Morpho vault version

v2

Vault deployment date

2026-04-22

Curator TVL

$133.24M

Total Deposits (USD)

$44.54M

Net APY

4.93%

APY Breakdown

Vault Net APY

4.90%

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	42.05%	18.73M	18.73M	32.94M	90.18%	100M	100%	4.30%
USDCbacked byWBTC 86% LLTV	20.46%	9.11M	9.11M	12.33M	90.06%	100M	100%	4.16%
USDCbacked byPT-reUSD-10DEC2026 91.5% LLTV	19.38%	8.63M	8.63M	15.62M	84.49%	10M	100%	6.49%
USDCbacked byv-wmtUSDC 86% LLTV	11.65%	5.19M	515.99k	515.99k	90.06%	25M	100%	6.05%
USDCbacked bywstETH 86% LLTV	5.11%	2.27M	2.27M	3.02M	90.17%	100M	100%	4.26%
USDCbacked byPT-USDat-14JAN2027 91.5% LLTV	1.21%	539.98k	85.13k	85.13k	91.44%	5M	100%	4.86%
USDCbacked byreUSD 91.5% LLTV	0.14%	60.33k	60.33k	999.99k	85.39%	10M	100%	5.29%
USDCbacked byPT-USDG-24SEP2026 91.5% LLTV	0%	< 0.01	< 0.01	413.49k	90.00%	5M	100%	1.81%
Idle Liquidity
	0%	< 0.01	< 0.01	-	-	-	-	-

Exposure

Allocation History

Date	Amount	Vault / Market
2026-09-14 10:20:23	+8,115.2 USDC+$8113.57	USDCbacked bywstETH 86% LLTV
2026-09-14 10:20:23	+66,727.8 USDC+$66.71k	USDCbacked bycbBTC 86% LLTV
2026-09-14 10:20:23	+32,460.57 USDC+$32.45k	USDCbacked byWBTC 86% LLTV
2026-09-14 10:20:23	-8,023.18 USDC-$8021.58	USDCbacked byPT-USDat-14JAN2027 91.5% LLTV
2026-09-14 10:20:23	-99,280.39 USDC-$99.26k	USDCbacked byv-wmtUSDC 86% LLTV

1

Performance

Position Unit Price (USDC)

1.017338

Returns

Instant APY

4.93%

7D APY

5.25%

30D APY

5.04%

90D APY

4.76%

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
	30,449,304.35 USDC$30.44M	68.33%
	6,259,039.47 USDC$6.25M	14.04%
	1,009,632.94 USDC$1.00M	2.26%
	830,238.9 USDC$830.07k	1.86%
	671,001.46 USDC$670.86k	1.50%

of

User Distribution

All Transactions

Date	Type	Amount
2026-09-14 06:11:35	Deposit	10,000 USDC$9997.99
2026-09-14 03:28:35	Deposit	374.976 USDC$374.90
2026-09-13 23:43:59	Withdraw	300,000 USDC$299.93k
2026-09-13 15:53:35	Deposit	50,000 USDC$49.98k
2026-09-13 15:36:47	Deposit	50,125.55 USDC$50.11k
2026-09-13 15:30:47	Withdraw	50,063.98 USDC$50.05k
2026-09-12 12:46:11	Withdraw	3,319.5 USDC$3318.83
2026-09-12 06:08:59	Withdraw	7,065 USDC$7063.58
2026-09-11 15:27:35	Deposit	10,457.84 USDC$10.45k
2026-09-11 06:52:59	Deposit	300,000 USDC$299.93k

1

All Transactions

Deposit USDC

$0

0.00 USDC

Network

Ethereum

Deposit (USDC)

0.00

APY

4.93%

Projected monthly earnings

$0.00

Projected yearly earnings

$0.00

Ratings

No ratings available for this vault.

Deposit USDC

$0

0.00 USDC

Network

Ethereum

Deposit (USDC)

0.00

APY

4.93%

Projected monthly earnings

$0.00

Projected yearly earnings

$0.00

Allocation History

Position Unit Price (USDC)

1.017338

Total Deposits (USD)

$44.54M

User Distribution

User	Deposit	% of Deposits
	30,449,304.35 USDC$30.44M	68.33%
	6,259,039.47 USDC$6.25M	14.04%
	1,009,632.94 USDC$1.00M	2.26%
	830,238.9 USDC$830.07k	1.86%
	671,001.46 USDC$670.86k	1.50%

of

Exposure

Markets	Allocation (%)	Allocation (USDC)	Liquidity (USDC)	Underlying Liquidity (USDC)	Utilization	Absolute Cap	Relative Cap	APY
Variable Rate Markets
USDCbacked bycbBTC 86% LLTV	42.05%	18.73M	18.73M	32.94M	90.18%	100M	100%	4.30%
USDCbacked byWBTC 86% LLTV	20.46%	9.11M	9.11M	12.33M	90.06%	100M	100%	4.16%
USDCbacked byPT-reUSD-10DEC2026 91.5% LLTV	19.38%	8.63M	8.63M	15.62M	84.49%	10M	100%	6.49%
USDCbacked byv-wmtUSDC 86% LLTV	11.65%	5.19M	515.99k	515.99k	90.06%	25M	100%	6.05%
USDCbacked bywstETH 86% LLTV	5.11%	2.27M	2.27M	3.02M	90.17%	100M	100%	4.26%
USDCbacked byPT-USDat-14JAN2027 91.5% LLTV	1.21%	539.98k	85.13k	85.13k	91.44%	5M	100%	4.86%
USDCbacked byreUSD 91.5% LLTV	0.14%	60.33k	60.33k	999.99k	85.39%	10M	100%	5.29%
USDCbacked byPT-USDG-24SEP2026 91.5% LLTV	0%	< 0.01	< 0.01	413.49k	90.00%	5M	100%	1.81%
Idle Liquidity
	0%	< 0.01	< 0.01	-	-	-	-	-

All Transactions

Date	Type	Amount
2026-09-14 06:11:35	Deposit	10,000 USDC$9997.99
2026-09-14 03:28:35	Deposit	374.976 USDC$374.90
2026-09-13 23:43:59	Withdraw	300,000 USDC$299.93k
2026-09-13 15:53:35	Deposit	50,000 USDC$49.98k
2026-09-13 15:36:47	Deposit	50,125.55 USDC$50.11k
2026-09-13 15:30:47	Withdraw	50,063.98 USDC$50.05k
2026-09-12 12:46:11	Withdraw	3,319.5 USDC$3318.83
2026-09-12 06:08:59	Withdraw	7,065 USDC$7063.58
2026-09-11 15:27:35	Deposit	10,457.84 USDC$10.45k
2026-09-11 06:52:59	Deposit	300,000 USDC$299.93k

1

Date	Amount	Vault / Market
2026-09-14 10:20:23	+8,115.2 USDC+$8113.57	USDCbacked bywstETH 86% LLTV
2026-09-14 10:20:23	+66,727.8 USDC+$66.71k	USDCbacked bycbBTC 86% LLTV
2026-09-14 10:20:23	+32,460.57 USDC+$32.45k	USDCbacked byWBTC 86% LLTV
2026-09-14 10:20:23	-8,023.18 USDC-$8021.58	USDCbacked byPT-USDat-14JAN2027 91.5% LLTV
2026-09-14 10:20:23	-99,280.39 USDC-$99.26k	USDCbacked byv-wmtUSDC 86% LLTV

1

Owner

SAFE 4/6

Curator

SAFE 3/5

Sentinel 1

0x77fcF2c8BB9c6a0DA2D21F331E15Fd83A63E9Fbe

Morpho vault version

v2

Vault deployment date

2026-04-22

Curator TVL

$133.24M

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

Returns

Instant APY

4.93%

7D APY

5.25%

30D APY

5.04%

90D APY

4.76%

Fees

Performance fee

0%

Management fee

0%

Performance fee recipient

No address

Management fee recipient

Net APY

4.93%

APY Breakdown

Vault Net APY

4.90%

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

$44.54M

44.55M USDC

Liquidity

$39.41M

39.42M USDC

Exposure

+3

Net APY

4.93

%