Morpho Blue · Katana

VBWBTC

Overview

The Morpho Blue VBWBTC pool on Katana is a single-asset lending position where suppliers earn variable interest on Bitcoin-backed wrapped tokens (wBTC) deposits. Morpho Blue generates yield by routing borrowing demand against pooled VBWBTC liquidity and pays suppliers from the resulting interest spread. Total APY stands at 0%, with no additional reward layer in place. There is no trend data available for both the 7-day and 30-day periods, as `apy_pct_7d` and `apy_pct_30d` are null. The current rate aligns with the 30-day mean of 0%. TVL sits at $46M without a reported 7-day change. Primary exposure here is smart-contract risk due to the protocol's reliance on automated market-making for liquidity provision. This pool does not carry impermanent loss or depeg risks, given its single-asset nature and non-stablecoin backing.

Composed 2026-05-20 from the structured data above. See methodology for the full pipeline.

Risk profile

• Smart contract risk

  Funds are deposited into a smart contract. A bug or exploit in the contract could lead to total loss. Audits reduce, but do not eliminate, this risk. Check the protocol page for audit history.

• Yield variability

  Current APY is 0.58%; 30-day mean is 0.47%. Yields can change as TVL and incentive emissions change.

• DefiLlama yield prediction

  DefiLlama's model classifies this pool's yield as "Down" with 56% confidence based on historical patterns.

These notes are derived from the pool's structured data, not editorial advice. See our methodology.