Exact settlement cadence and UI steps live in the app. These docs describe the mechanics (ERC-7540 async pattern). Always confirm live status in the app.
Deposit
1
Connect on Ethereum
Open the Murmurr app and connect a wallet that holds USDC on Ethereum.
2
Approve USDC
Approve the Lagoon vault to pull USDC (standard ERC-20 allowance).
3
Request deposit
Submit a deposit request. Under Lagoon’s async model, USDC is queued until settlement mints shares against the vault’s NAV rules.
4
Receive shares
After settlement, vault shares credit to your wallet (or become claimable, depending on vault version / claim path). You hold one share token representing your claim on the USDC book.
Redeem
1
Request redeem
Submit a redeem request for shares you hold. Economic exposure continues until settlement burns shares.
2
Settlement
The vault settles redemptions against available USDC liquidity and NAV. The curator Safe may need to free USDC from Morpho sleeves (and, if needed, bridge via CCTP) so exits can clear.
3
Receive USDC
USDC returns to your wallet after settlement / claim - again depending on the live Lagoon claim path in the app.
What “async” means for you
Liquidity design (cash buffer + Morpho USDC sleeve) exists so exits can be served without forcing a chaotic full unwind - see Allocator.
Fees
0% management / 0% performance at the product layer for now.
Confirm live on-chain values in the app and on-chain data. Fee parameters can change on-chain; the app and docs will reflect what is live.