Overview

MORE vaults provide customized risk exposure to one or many MORE markets and generate yield for lenders. Initially, these vaults support only MORE markets. However, since the protocol is based on Morpho Vaults, in the future, Morpho markets will also be supported.

The MORE factory contract provides a means for any user to create vaults with custom risk parameters. Vaults adhere to the ERC-4626 tokenized vault standard. Each vault accepts deposits of a single loan asset, but has the capability to distribute deposits across multiple standard and premium MORE markets.

MORE vaults are immutable and noncustodial in nature. Once a vault is deployed, its parameters remain permanently fixed. Vaults do not custody or manage user assets, but instead allow users to retain control over their funds at all times. They serve as a vehicle for users to contribute liquidity and earn interest passively. Assets supplied to vaults benefit from a system designed to automate risk management such that assets are actively curated to maintain the risk profile defined at vault creation.

In practice, users benefit from a vault's ability to handle risk management autonomously, allowing them to focus on their investments without needing to manage risk exposure. Users retain complete control over their assets, with the ability to continuously monitor the vault's performance and withdraw their funds whenever they choose. This ensures that while the vaults take on the task of managing risks, users always maintain oversight and access to their liquidity.