Crypto
Home›Crypto›DeFi›Sentora launches Morpho lending vault using mWIN colla…
Sentora launches Morpho lending vault using mWIN collateral
The vault accepts PYUSD deposits, posted about $6.4 million in collateral and had $3.91 million borrowed at the time of reporting, targeting an 8.3% net APY with most yield coming from a PYUSD reward stream.
Sentora is curating a Morpho lending vault that lets users deposit PayPal’s stablecoin PYUSD and borrow against mWIN, a token backed by an actively managed credit portfolio run by Wellington Management, The Defiant reported.
The mWIN token was issued by Midas on Aug. 5. Wellington serves as strategy manager, Northern Trust is listed as custodian, and the vehicle is described as a Luxembourg securitization compartment owned by an orphan trust, according to the report.
Sentora’s “mWIN Main” vault takes deposits in PYUSD, and it held 9,647,369 PYUSD against a 10 million PYUSD cap at 17:45 UTC on Aug. 6, per Morpho’s API. The lending market pairs mWIN as collateral with PYUSD as the loan asset at a 77% liquidation loan-to-value, with borrowing of $3.91 million against $6.44 million in posted collateral, the outlet said.
The vault charges a 15% performance fee and no management fee, and it is not gated, with any wallet able to lend into it. The reported net APY is 8.31%, with 7.61 percentage points attributed to a PYUSD reward stream, while the underlying market supply APY is 0.82% at current utilization, and borrowers pay 2.04%, according to The Defiant.