Murmurr is a USDC-only yield product. You deposit USDC, receive a vault share token, and redeem when you want out. Behind that share, capital is allocated across Morpho USDC vaults - never into Morpho Blue markets directly from the Lagoon layer.
USDC, not “any stablecoin”. The product underlying is USDC. Multichain rotations stay in native USDC via Circle CCTP - no discretionary stable-to-stable swaps in the user path.

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What you get

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Stack at a glance

  1. Lagoon vault (user layer) - ERC-7540 async deposit / redeem on Ethereum. Shares, NAV accounting, fees. Book = Morpho vault shares only.
  2. Morpho USDC sleeves (yield engine) - modular vaults per theme / chain. Diversified sleeves (Frontier + Blue-Chip on Ethereum, cbAssets on Base) and mono-collateral sleeves (Murmurr USDC WHYPE on HyperEVM, Murmurr USDC aHYPER on Monad).
  3. Policy engine - Lagoon + diversified sleeves use an allocator; all sleeves use a sentinel liquidity guard. Mono sleeves are sentinel-only.
Deep dive: Architecture · Deposit & redeem · Multichain & CCTP.

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Naming

Morpho sleeves use the on-chain pattern: Murmurr USDC <COLLATERAL_OR_THEME> Examples: Murmurr USDC WHYPE, Murmurr USDC aHYPER.

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Chains

Murmurr is chain-aware: capital can move toward Morpho USDC vaults on new chains when risk and yield clear the bar, bridging with CCTP.

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Fees

0% management / 0% performance for now. Details: Deposit & redeem → Fees.

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Non-goals

  • Murmurr does not take custody of your keys.
  • Murmurr does not promise a fixed APY.
  • Murmurr does not charge a performance fee.
  • Murmurr does not supply Morpho Blue markets from the Lagoon Safe (vaults only).
  • Murmurr does not currently productize non-USDC underlyings (USDT, EURC, etc. may appear as separate products later - not in this vault).

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Where to go next

Architecture

Lagoon + Morpho layers, mono vs diversified ops, custody boundaries.

Deposit & redeem

How USDC enters and exits the vault.

Allocator

How the target book is built on diversified sleeves.

On-chain data

Vault, Safe, and Morpho addresses to verify yourself.