For digital asset treasuries
Explore BTC yield through over-collateralized lending and the live Carry Vault, with bdBTC coming next.
Compare the return source, the asset exposure and the mechanism. Watch the walkthrough, explore the supporting materials, then bring your mandate to the team.
Treasury opportunities
The lending market, the live Carry Vault and the upcoming bdBTC Vault have different return sources and structures.
Supply wrapped Bitcoin to the Morpho market and earn interest from borrowing demand.
Review the market’s collateral, utilization and available liquidity alongside its supply rate.
See how the market works3.11%
7-day average supply APY
BTC denomination
One vault combines wrapped-Bitcoin lending with a financed dollar carry.
One portion earns lending interest. Another backs USDC borrowing invested in the USD Vault. The spread after borrowing costs and fees is converted back into wBTC.
Watch the full explanation3.63%
7-day average APY
BTC denomination
An upcoming vault designed to package BTC exposure with the sBTCD yield engine.
Launch details will be added when confirmed. The upcoming vault is separate from the live Carry Vault.
Get product updatesComing soon
Target 8% APY
Vault figures use seven-day averages. The lending figure is a seven-day average supply rate.
Understand how it works
Follow the portfolio, token and vault mechanics in the complete whiteboard explanation.
Key perspectives
Start with a focused explanation, then follow the material your reviewers need.
Lending interest, financed carry and BTC-denominated returns.
Read the articleTechnical documentationExplore the documentation at the depth your team needs.
Open documentationInstitutional diligenceBring your treasury mandate and the supporting information you need.
Speak with the teamResource library
Open a brief overview or go deeper into the supporting collateral. Each document keeps its source date.
3 September 2026
Open PDF
3 September 2026
Open PDF
3 September 2026
Open PDF
3 September 2026
Open PDF
3 September 2026
Open PDF
3 September 2026
Open PDF
3 September 2026
Open PDF
3 September 2026
Open PDFTalk to the team
Book a 30-minute conversation with the team, or send us a message.
Contact us for a demoFields marked * are required.
Subscribe to our newsletter