The Morpho LTV Vault is a testnet deployment of the LTV Protocol leveraging the Sepolia Morpho lending market. It allows users to deposit assets (WETH and USDC) and earn yield through leveraged positions while maintaining a constant target Loan-To-Value (LTV) ratio. This testnet implementation serves as a sandbox to test LTV logic with Morpho as the underlying lending system.
It follows the design principles outlined in the research paper:
LTV: Curatorless Leveraged Tokenized Vault with a Constant Target Loan-To-Value Ratio
An EIP-4626-based vault that automates leverage using recursive borrowing. It keeps the LTV ratio near a constant target using an auction incentive mechanism.
Source code: LTV Vault
This connector interfaces with Morpho to manage borrow/collateral positions within the vault.
Obtain ETH from the Sepolia Testnet faucets.
Transform ETH to WETH using the WETH contract or swap into USDC
Deposit WETH into the LTV Vault .
Wait for the yield generation period to end.
Withdraw your WETH or MagicETH from the LTV Vault .
A minimal and lightweight frontend for interacting with the ghost testnet vaults .
Source code: https://github.com/ltvprotocol/pico_ui
Detailed documentation: Pico UI Docs
Name Address
Morpho LTV Vault 0x9A1Fc3ff25083f33373Bbf9617E12892FF19E07A
Actual (v0.1.10) tag: testnet_v0.1.10
Name Address
Implementation 0x480d554D8BBF66d301063CccbA7847f26BD0293fBeacon 0xfE8f068568Cc84c3818406765da285e7f57B8A80
Name Address
ERC20 Module 0x9FB3133Ebb390bc1d46d555B06F2E115Ee919F17Borrow Vault Module 0x1ECE1D0C024526995696F9FD321225130700e8D6Collateral Vault Module 0x1ED1573f1C756aD9b915f5B804a306b62a140c1DLow-Level Rebalance Module 0xF8cBf81bbb5EFc1faC45F8d2F1E99C06C7b69D86Auction Module 0xeC7d68652654c297C5FCE832E7445b9158CDB3aAAdministration Module 0x6DC2cb8fdc1e8D8c8DD6E4244882f3ADA2B7C33EInitialize Module 0x29ceFDfefd5b24C14Bf2A4c7E464D1dCC4fce206Modules Provider 0xC7349994eb73Ba9090980DFc8628849fDA4d5A29
Name Address
Whitelist Registry 0x69DafAfcA68306c5B664A8BF23196DA9350edC59Vault Balance Connector 0xf3AaaB0591e74F9D509296906366704e9C3f6c2ASlippage Connector 0xd64De8418ee7EF911175A8bd8B4Bf4FAcD72796FOracle Connector 0x1a0b3f2f3823582871c05634d4874d26ad29542cLending Connector 0xb241c66c61adb67cd261e71f425bc38cff6f00a4
Name Address
DepositWithdraw 0xA3FbBdA4dbAe3e5d9138dBF0055d1eA5327624AdMintRedeem 0x676384D764e33032E228823DFAE10dEce86c24E1NextStep 0x2b90Ed4B9b8B91D57612ef6F8121368fa8d862bADeltaSharesAndDeltaRealBorrow 0x8f806DE6E7859164660AB64d84d50449c3Aa4d51DeltaRealBorrowAndDeltaRealCollateral 0xF1A532acb2e9cc03c3911bEc718fca71c257EB83DeltaSharesAndDeltaRealCollateral 0x7A6A06bfeddA3c38536Cef100091209BD9F2417ELowLevelRebalanceMath 0xAdEaD04C1595BF3b091e2796299beD8F59Ad15BC
Actual (v0.1.4) tag: morpho_testnet_v0.1.4
Name Address
Implementation 0x850381Ee6363e05630692cEF49e815B320F72B8cBeacon 0xfE8f068568Cc84c3818406765da285e7f57B8A80
Name Address
ERC20 Module 0x93889Ffe70ec6F772458b8D2e40C0377266F6BefBorrow Vault Module 0x64d5acf4db65ae30723b96e5fb455bc2c66f9798Collateral Vault Module 0xe1F7EC39C820f10B9C114202FACA82c63fC131eBLow-Level Rebalance Module 0x6cb72186a8F7a305F4262af19BD0a2b6b80594DFAuction Module 0x9bDF7EBf76741D3948116e39a883693D64Dc9fd5Administration Module 0xcE5BCE6d3C3f983F4ca61b5e4efeE8e225a7D9c2Initialize Module 0x599484fda8E1e3d69ca480AcFc77C2Ea36D0f0BbModules Provider 0xd843c8d41a2c78B24af7155Ea407940a002604d9
Name Address
Whitelist Registry 0x0000000000000000000000000000000000000000Vault Balance Connector 0xA9D5d9b37278E5440bFbC31c0841ae77143aE943Slippage Connector 0x96e905b396546b01C7C8c6DaFaD08e694C3d963COracle Connector 0xAdF9c5C3e09Ad8F35eAf96c7072Eca84A18b5AE7Lending Connector (Morpho) 0x2F7E5B3f16120363E9d6C6a46744D3a90D426CB0
Name Address
Borrow Token 0x1c7D4B196Cb0C7B01d743Fbc6116a902379C7238Collateral Token 0x2D5ee574e710219a521449679A4A7f2B43f046ad
Name Address
Oracle Connector 0x075ECcc98436AB3C0713Fc25C6e88ac56DdE8b16