0x78Fc…d094d0

Re7 WETH

Re7WETH

Ethereum

Curated by RE7 Labs·Inception 2024-01-30·Guardian 0x0000000000000000000000000000000000000000

Ethereum

WETH

Open on Morpho

Net APY0.54%

-1.53%30d 2.07%

TVL$916.26K

-63.77%Capacity $1.37M

Utilization54%

Underutilized

Risk score

Low

Market 4

·Loan demand 33

Complexity39Standard strategy

Liquidity66/100

Instant redemption available

Performance fee20%High vs peers

Morpho official alerts

1 critical alert from Morpho's risk team

Deposits disabledREDVault-level
Morpho has flagged this vault as not accepting deposits. Existing positions remain on-chain but new capital is being turned away — usually a curator-initiated wind-down or response to an active issue.

Plain English explanationWritten by vaults.xyz research · model card · last update 2026-05-12

What this vault actually does

The Re7 WETH Morpho vault curated by Re7 Labs aims to outperform staked ETH yields by lending WETH against a diverse set of Liquid Staking and Liquid Restaking Token collateral markets.

Yield decomposition

What you are actually getting paid for, expressed as a share of net APY.

Hover for source breakdownTotal · 0.54% gross APY

Curator performance fee−20.00%→0.54% net

Borrower lending demand

Structural

Interest paid by borrowers on Morpho Blue markets the vault supplies into.

0.51%94.4% of yield · 51 bps

Protocol incentives

Incentive

Estimated boost from Morpho-side rewards programs and curator rebates active on these markets.

0.03%5.6% of yield · 3 bps

What breaks this vault

The honest version. Every structural failure mode this vault is exposed to, ranked by severity. If you want to know whether to invest, start here.

Weighted LLTV across markets is 94.5%. Sharp collateral drawdowns can trigger cascading liquidations faster than vault parameters can be adjusted.

Vault has meaningful collateral exposure to liquid restaking tokens. A discount to ETH (>2%) propagates directly through liquidation cascades.

Hidden exposure map

What this vault is actually exposed to — including dependencies that are not visible from the strategy name.

wstETH

28%

Liquid stakingCollateral asset in vault allocations.

ezETH

72%

Liquid restakingCollateral asset in vault allocations.

cbBTC

Lending venueCollateral asset in vault allocations.

WETH

100%

Lending venueLoan asset supplied by the vault.

Reading this map. Direct exposures are the assets the vault holds or lends against. Indirect dependencies (Tab 3) include the protocols that mint those assets, the oracles pricing them, and the bridges that move them. An incident at any indirect dependency can damage the vault even when the direct collateral looks healthy.

Allocation breakdown

Every market the vault has supplied into, with current LTV, LLTV, oracle, and IRM. Idle balances are listed explicitly.

Markets4+ idle buffer

ezETH / WETH71.6%

wstETH / WETH28.0%

cbBTC / WETH0.5%

wstETH / WETH0.0%

idle / WETH0.0%

Market	Protocol	Allocation	LTV / LLTV	Utilization	Oracle	IRM
idle / WETH	Morpho Blue	0.0%$0	—	—	0x00000000…	0x00000000…
wstETH / WETH	Morpho Blue	0.0%$0	82% / 96.5%14.5 pts headroom	83%	0xbD60A677…	0x870aC11D…
ezETH / WETH	Morpho Blue	71.6%$655.86K	80% / 94.5%14.2 pts headroom	42%	0x94f93f1e…	0x870aC11D…
cbBTC / WETH	Morpho Blue	0.5%$4.21K	78% / 91.5%13.7 pts headroom	—	0x0fd64ae6…	0x870aC11D…
wstETH / WETH	Morpho Blue	28.0%$256.19K	80% / 94.5%14.2 pts headroom	86%	0xbD60A677…	0x870aC11D…

Stress scenarios

Modeled NAV impact under historical and hypothetical tail events. Each impact = − (shock magnitude) × (vault exposure) × (pass-through). Hover the calculator icon for the per-scenario formula.

Morpho Blue contract vulnerability

rare

computed

Tail-case: a vulnerability surfaces in Morpho Blue that affects the vault's largest single market (72% of TVL). Modeled at 50% loss on that exposure; full vault is not assumed at risk since markets are isolated.

−50% × 72% (largest market) × 100% pass-through

-35.8%

Recovery patch + governance

72% exposed

Curator misallocation

unlikely

computed

Curator routes into a market that develops bad debt or an oracle break. Worst single position is 71.6% of TVL; top-3 concentration is 100%. Modeled at 50% bad-debt recovery on the worst position.

−50% × 71.6% (worst market) × 100% pass-through

-35.8%

Recovery 30–90 days

72% exposed

ETH market drawdown

possible

computed

A 30%+ cycle drawdown in ETH. USD value of the position falls; ETH-denominated yield is unaffected. Applied to 100% of vault TVL (loan asset is WETH).

−30% × 100% exposed × 100% pass-through (loan-asset shock)

-30.0%

Recovery 6–18 months

100% exposed

LRT / restaking event

unlikely

computed

An operator slashing or AVS misbehavior creates a discount in the LRT collateral. 71.6% of TVL is in liquid restaking token (LRT) markets (weighted LLTV 95%). A 20% collateral shock translates to ~2.15% NAV loss after the 6-pt LLTV buffer absorbs liquidation-clearable price moves.

−20% × 71.6% exposed × 15% pass-through (LLTV 95%)

-2.2%

Recovery 30–90 days

72% exposed

Activity

Curator and parameter changes detected by VaultScope's snapshot diff. Refreshed every 6 hours.

Full feed →

Allocation shift

RE7 Labs @re7weth·16h

Cut wstETH / WETH allocation

28.0% → 0.0%−28.0pp

Utilization spike