Risk
Last updated: May 2026
Not a bank · Not advice
Muscadine Labs LLC is a DeFi vault curator and technology provider, not a bank, broker, investment adviser, or custodian. Nothing here is investment, tax, or legal advice. Digital asset strategies involve substantial risk, including total loss of principal. Past or projected yield is not a guarantee of future results. You retain custody of your assets and are solely responsible for wallet security, transaction signing, and eligibility in your jurisdiction. On-chain state is the source of truth. See also our legal disclaimer.
What we are
Muscadine Labs publishes curated Morpho vault strategies on Base. We configure markets and risk parameters; users deposit through non-custodial wallets. We do not hold user private keys, guarantee returns, or insure deposits.
Material risks
- Smart contract bugs or exploits in vault, market, or dependency contracts
- Market, liquidity, and oracle failures (depegs, illiquid exits, bad prices)
- Curator decisions (market listings, parameters, pauses) — not a guarantee of safety
- Regulatory change and product availability in your jurisdiction
- User error (lost keys, phishing, wrong chain, unsigned transaction mistakes)
Market & collateral framework
We list Morpho markets that meet minimum liquidity, collateralization, and operational criteria. Concentration limits, asset type, and oracle dependencies are reviewed before onboarding. Markets can be removed or capped when conditions change. Ratings in the exposure table are qualitative summaries — not investment grades.
Monitoring
We review utilization, collateral factors, and reported incidents on a recurring basis. Guardians can pause vault operations per on-chain roles. We may update documentation, app notices, or parameters when risk increases; we are not obligated to recover user funds in a failure event.
Responsibilities
| Party | Role |
|---|---|
| You (user) | Custody keys, sign transactions, tax reporting, suitability, reading on-chain state |
| Muscadine Labs | Curate vault parameters and markets; operate interfaces; no custody of deposits |
| Morpho & markets | Protocol logic, market liquidity, governance of underlying infrastructure |
| Third parties | Wallets, RPCs, bridges, on/off-ramps — separate terms and risks |
On-chain roles and contract addresses: docs.muscadine.io — Roles & contracts
Vault exposure (summary)
For documentation purposes only. Verify live allocation on analytics.muscadine.io and on-chain.
| Vault | Exposure |
|---|---|
| USDC Prime (V2) | Morpho markets (overcollateralized lending) |
| WETH Prime (V2) | Morpho markets (overcollateralized lending) |
| cbBTC Prime (V2) | Morpho markets (overcollateralized lending) |
| USDC / WETH / cbBTC Vaults (V1, deprecated) | Morpho markets (overcollateralized lending) |
Audits & dependencies
Vaults use Morpho-developed ERC-4626 infrastructure. Third-party audits cover specific contracts and versions — not every integration, frontend, or future parameter change. Review Morpho's published audit reports and scope before depositing.
Morpho audits — security reviews →