[ 05 // VAULTS ]
deposits, mechanics, and risk.
The vaults are the deposit side of the stack. Each vault is a Morpho Vault V2 on HyperEVM, managed by the HEGEMON_V2 reallocator. You deposit an asset, and the vault issues ERC-4626 shares. The reallocator moves the pooled capital between whitelisted markets. Three vaults are open for deposits.
THE VAULTS
| VAULT | ADDRESS | STATUS |
|---|---|---|
| MYRMIDONS USDT0 (V2) | Deposits open | |
| MYRMIDONS USDC (V2) | Deposits open | |
| MYRMIDONS WHYPE (V2) | Deposits open |
All vaults are on HyperEVM (chain 999). The addresses above render from the same module the site's deposit flow uses.
MECHANICS
- ▸ERC-4626: you deposit the asset (USDT0 or USDC) and receive vault shares. The share price accrues the yield. A withdrawal burns shares and returns the asset.
- ▸The vault can only allocate into its whitelisted Morpho markets, within per-market caps enforced onchain. The reallocator cannot send funds anywhere else.
- ▸Deposits and withdrawals are available on the vault pages and in the terminal (deposit-v2 / withdraw-v2). Approvals are exact-amount.
- ▸The bot keeps a liquidity buffer in a designated market, so ordinary withdrawals do not depend on a reallocation.
RISK // READ THIS
A deposit exposes you to real risks that no strategy removes. Nothing here is investment advice. Deposit only what you can afford to lose.
- ▸Smart-contract risk: the vaults, Morpho, and every market's oracle and IRM are code. Code can have bugs.
- ▸Market risk: when borrowers are liquidated into thin liquidity, lenders absorb the bad debt. The risk engine's capacity_ratio measures this exposure.
- ▸Oracle risk: a wrong price liquidates the wrong people. MNEMON tracks oracle deviation continuously, but tracking is not prevention.
- ▸Liquidity risk: at high utilization, withdrawals can be constrained until rates rebalance the market. MNEMON's utilization spells measure these episodes.
- ▸Strategy risk: HEGEMON's gates bound its behavior, but they cannot guarantee yield. Past performance predicts nothing.
$ man vaults · this page in the terminal