> ## Documentation Index
> Fetch the complete documentation index at: https://yieldxyz.mintlify.site/llms.txt
> Use this file to discover all available pages before exploring further.

# Morpho

> Supply assets into curated Morpho Vaults V1 and V2 on eight EVM networks and earn through vault share appreciation.

The Morpho integration supplies assets into curator-managed vaults on Morpho, covering both Morpho Vaults V1 and Morpho Vaults V2. You deposit an asset, receive an ERC-4626 vault share, and the share's value rises against the underlying asset as the curator's allocations earn.

## Availability

| Version | Networks |
| - | - |
| Morpho Vaults V1 | Ethereum, Base, Arbitrum, Optimism, Polygon, Unichain, Katana, Monad |
| Morpho Vaults V2 | Ethereum, Base, Arbitrum, Optimism, Katana, Monad, Tempo, Robinhood Chain, Arc |

Each vault is run by a curator, named in the yield's `curator` field, who selects the markets or, for V2, the adapters the vault allocates to. Query [`GET /v1/yields?providers=morpho`](/api-reference/YieldsController_getYields) for the live list of vaults enabled for your project; do not assume a curator or asset is available on every network.

<Note>
  V1 vaults allocate deposits across Morpho Markets V1 for a single loan asset. V2 vaults allocate through an adapter architecture that currently routes into Morpho Markets V1 and Morpho Vaults V1, with separate curator and allocator roles. Both versions expose the same enter, exit, and reward behavior described below.
</Note>

Morpho also has legacy Optimizer integrations layered over Aave and Compound money markets; those are documented separately at [Morpho Aave](/documentation/earn/defi/lending/morpho-aave) and [Morpho Compound](/documentation/earn/defi/lending/morpho-compound) and are unrelated to the vaults on this page. yield.xyz can also wrap a Morpho vault in an OAV; see [Off-the-shelf OAVs](/documentation/platform/vaults/off-the-shelf-oavs).

## Entering and exiting

Entering approves the input token (if needed) and deposits it; the vault mints shares immediately. Exiting redeems shares for the underlying token in a single transaction, subject to the vault's on-chain liquidity: if a curator has most of the vault deployed into markets, a large redemption may not be fully fillable until liquidity frees up.

## Rewards and position

The vault share's value rises automatically as the curator's allocations earn; no claim step is needed for the base yield. Some vaults also carry extra incentive tokens, listed in the yield's `rewardRate.components[].token`.

For Ethereum vaults that carry MORPHO as an extra reward token, a separate `claimable` balance appears with a `CLAIM_REWARDS` pending action that claims accrued MORPHO from Morpho's rewards distributor. Vaults on other networks don't expose this claim, even when they list an incentive token in their metadata.

## Next steps

<Columns cols={2}>
  <Card title="Vaults" icon="vault" href="/documentation/earn/defi/vaults/index">
    Compare Morpho against other vault integrations.
  </Card>

  <Card title="Action lifecycle" icon="arrows-rotate" href="/documentation/earn/core-concepts/actions">
    How enter, exit, and CLAIM\_REWARDS actions are signed and submitted.
  </Card>
</Columns>


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