Morpho Update: Gauntlet Leads With $1.7 Billion in Deposits Vaults @Morpho Labs 🦋 $MORPHO

Morpho, the optimized DeFi lending protocol on Ethereum, continues to assert its leading position in the decentralized lending space. According to the latest data from Token Terminal on 11/14/2025, the vaults of Gauntlet – a top risk manager – are dominating this platform. With a total of 69 vaults, they currently hold approximately $1.7 billion in LP (Liquidity Provider) deposits, making up a significant portion of the Morpho ecosystem.

The chart analyzes the top 20 outstanding vaults, with Gauntlet USDT Core leading at $443.8 million (29.4%), followed by Gauntlet USDT Prime ($261.8 million, 17.4%) and Gauntlet USDC Prime ($240.6 million, 16%). Other vaults such as Gauntlet USDC Core ($139.4 million, 9.3%), Vault Bridge WBTC ($90.9 million, 6%) and Vault Bridge WETH ($59.1 million, 3.9%) also contribute significantly. Note that the data does not include the Katana-based vaults of Gauntlet, which are estimated to add another $20 million.

Gauntlet is currently the largest curator of vaults on Morpho, surpassing SteakhouseFi and SparkFi. This dominance reflects investor confidence in Gauntlet's sophisticated risk management model, which helps optimize yields and minimize losses. Morpho, with peer-to-peer lending technology, has attracted over $2 billion in total TVL, driving DeFi growth following the Ethereum Dencun upgrade.

In the future, Morpho may expand to layer-2 chains like Base and Optimism, increasing liquidity. Investors should keep an eye on updates from Gauntlet to seize yield farming opportunities. With this growth momentum, Morpho promises to become a DeFi pillar in 2026.