the stack: observe, classify, allocate.
MYRMIDONS is a research and execution stack for Morpho lending markets. It observes every Morpho market on eight chains, marks which markets are broken and which are investable, and moves its own vaults' capital to the best of them. The vaults and the reallocator run on HyperEVM (chain 999) only. The stack runs at proof-of-concept scale.
THE LOOP
MNEMON ──▶ samples every Morpho market // every 5 to 15 min
CLASSIFIER ──▶ flags broken markets, marks investable // server-side rules
HEGEMON ──▶ reallocates vault capital // simulated before sent
Every stage is public: the archive as static JSON, the risk engine as a versioned API, the reallocator's decisions as a live feed.
COMPONENTS
| COMPONENT | WHAT | WHERE |
|---|---|---|
| MNEMON | Market archive: sampling, classifier, flows | |
| METRON | Statistics library behind the risk engine | internal |
| RISK ENGINE | Liquidation capacity and risk metrics on the archive | |
| HEGEMON | Vault reallocator bot | operator server |
| LIVE FEED | The reallocator's events. No stability promise | vault pages, terminal tail |
| VAULTS | ERC-4626 Morpho vaults the bot manages | HyperEVM |
| PORTFOLIO | Any wallet's vault shares and Morpho Blue positions | myrmidons-strategies.com/portfolio |
PORTFOLIO reads positions from chain on the archived chains and adds the archive's view: a better-paying investable market for the same loan token, whether liquidity covers an exit, and health and liquidation price on borrows. USD values are estimates from archive prices and market oracles.
GLOSSARY
| TERM | MEANING |
|---|---|
| Market | One Morpho Blue lending pool: one loan token, one collateral token, one oracle, one LLTV, one rate model. Markets are isolated from each other |
| Vault | A pool of deposits that a curator allocates across several markets. Depositors hold ERC-4626 shares |
| Utilization (u) | Borrowed divided by supplied. At 100%, lenders cannot withdraw until borrowers repay or new supply arrives |
| IRM | Interest rate model. Morpho's adaptive model targets 90% utilization and keeps raising rates while a market stays above it |
| apy@target | The borrow APY the rate model charges at its 90% target. It climbs while the market stays above target and falls while below |
| LLTV | Liquidation loan-to-value: the debt-to-collateral ratio at which a position can be liquidated. Fixed per market |
| LIF | Liquidation incentive factor: collateral a liquidator receives per unit of debt repaid. Set by the LLTV (details) |
| Health factor (HF) | Collateral value × LLTV, divided by debt. Below 1, the position can be liquidated |
| Bad debt | Debt left after a liquidation could not cover it. Morpho spreads the loss over the market's lenders |
| Exit ratio | A market's available liquidity divided by the vault's position in it: how much of the position could leave now |
| Oracle | The contract that gives a market its collateral price |
| bps | Basis points: 0.01% |