Verifiable USDe Loop

Leveraged loopLive · attestedSample fixtureUSDe/USDC · Morpho Blue · BaseCurated by Priime Labs

USDe looped against USDC on Morpho Blue, Base. Three operators re-execute the NAV independently and the quorum attests it on chain.

Modeled APY4.8%net of venue costs and the 10% compute fee

NAV$500attested, replayed capture

Share value1.0000attested NAV over 500 published shares

Depositors1

Capacity$10M$9.9M left, modeled

Capacity used$500 attested of $10M modeled

$500 attested$10M total capacity

Overview

Verifiable USDe Loop runs a leveraged loop on USDe/USDC via Morpho Blue on Base. Dynamic leverage holds the position at 2.50x and keeps it inside the published protection envelope. Earned yield is swept back into the position on a 24h cadence.

Performance on this page is modeled. The NAV, the share value and the strike ledger are read off the journal.

Vault configuration

CuratorPriime Labs

CreatedAug 18, 2026

VenueMorpho Blue

ChainBase · 8453

Strategy classLeveraged loop

ModulesLiquidity sourceDynamic leverageAuto-compound

VerificationOperator quorum (TEN), 2 of 3 required · attested

Automations

Base · Safety controls

Dynamic leverage

Holds the loop at target. Trims when health drops, adds a layer when there is room.

In shadow

1.53health factor · 2.50x leverage · inside the target bandlive

USDe/USDC, 92 days from Jun 8, 2026 · worst day −0.14pp · trim after 3.13pp

Emergency floor< 1.39

Deleverage1.46

Target1.53

Lever-up> 1.60

The cascade · one action per check

Health factor is below1.39→Fast unwind

Health factor between1.39 and 1.46→Sell slice, repay borrow

Health factor between1.46 and 1.60→Hold

Health factor is above1.60→Add a layer

Liquidation LTV · 91.5%Cascade acts after · 3.13pp of pair driftApplied leverage · 2.50xCadence · every blockLast rebalance · 2d ago

Morpho Blue · Compounding

Auto-compound

Sweeps earned yield back into the position once it clears the threshold.

In shadow

Accrued since last compound$0.00

$0$0.07 accrues per 24h check · clears $155.00 in 2350 checks

At the 24h check, accrued at least$155.00→Harvest and re-supply

Cadence · 24hLast compound · 27d agoNext check · in 7h

Envelope, bands and thresholds are the vault's published parameters.

Performance

Share value, attested

1.0000

2 strikes

One point per captured strike. The line is flat because both strikes settled at the same NAV, and this page will not draw a curve the journal does not contain.

Returns

Since inception attested0.00%

Parameters

MarketUSDe/USDC

VenueMorpho Blue · Base

Applied leverage2.50x

Liquidation LTV91.5%

Collateral yield, typed4.40%

Borrow rate, typed3.50%

Measured seriesSep 7, 2026 · DefiLlama yields

Compound cadence24h

Capacity$10M · modeled

Read atBase · block 49,174,196

Protection envelope1.39 / 1.46 / 1.60 health

Harvest threshold$155

Remaining capacity$9.9M

Min deposit$50

Compute fee10% of yield, at harvest

Management feenone on idle capital

Withdrawalat the attested share value, no fee on principal

Composed modules

Liquidity sourceHolds the position on the venue and market this vault runs on.

Dynamic leverageWatches the health factor every block and trims the loop before it reaches the liquidation band.

Auto-compoundSweeps earned yield back into the position once it clears the harvest threshold.

Verification

Three operators on TEN, the trustless execution network, re-execute the NAV from one component digest and one input block. The quorum attests the number only when their result hashes agree, so a single operator cannot move the NAV it reports.

Replaying synthetic sample fixtures. The strike shapes are the ones a real Base quorum would produce, but the hashes, digests and vault address on this page are placeholder byte patterns (see schema/samples/*.json), not values captured from chain.

Verifiable USDe Loop · NAV strike 49480000Attested

Operator 1// 01

signer 0x1111…1111

Result hash● Accepted

0xa1a1a1a1…a1a1a1

Reported NAV500.000000 USDC

weight 1

Operator 2// 02

signer 0x2222…2222

Result hash● Accepted

0xa1a1a1a1…a1a1a1

Reported NAV500.000000 USDC

weight 1

Operator 3// 03

signer 0x3333…3333

Result hash● Accepted

0xa1a1a1a1…a1a1a1

Reported NAV500.000000 USDC

weight 1

Verifiable USDe LoopVAULT

Base · inputs block 49480000● Attested

500.000000 USDC

NAV, attestedshare 1.000000

NAV attested by Priime Operator · quorum 2 of 3

Actions

Open the loop

Priime OperatorBASE · 8453

attestation sink · threshold 2 of 3

Quorum● Reached

3 of 3

wins 0xa1a1a1a1…a1a1a1

Attested NAV500.000000 USDC

settled 3-of-3 at 16:00:09 UTC · no explorer link, replayed data

Priime Operator ▸ Verifiable USDe Loop

The same canvas, one level down: the composition this vault was published from.

Edit in Priime Build

Liquidity sourceS1

Market · Morpho Blueunhedged

USDe/USDC

VenueMorpho Blue · Base

Dynamic leverageS2

Protection envelope● Armed

2.50x

HF floor1.39

Auto-compoundS3

Compounding● Armed

24h

VaultS4

Net APYmodeled

4.8%

NAV attested by Priime Operator · quorum 2 of 3

position readsigned resultrejected

Strikes

strike 49480010cron · trigger block 49480010 · inputs block 49480010Settled 2-of-31 rejected500.000000 USDC

0x1111…1111accepted500.000000 USDC

0x2222…2222accepted500.000000 USDC

0x3333…3333rejected, hash mismatch750.000000 USDC

quorum 2 of 3 required · 2-of-3 agreed · attested 16:01:49 UTC

strike 49480000cron · trigger block 49480000 · inputs block 49480000Settled 3-of-3500.000000 USDC

0x1111…1111accepted500.000000 USDC

0x2222…2222accepted500.000000 USDC

0x3333…3333accepted500.000000 USDC

quorum 2 of 3 required · 3-of-3 agreed · attested 16:00:09 UTC

Attestation

Quorum2 of 3 required

Settled3 of 3 at block 49480000 · 2 of 3 at block 49480010, one rejection

Component digest

Service id

Vault

Chain id8453

Operators registered3

Operator 1

Operator 2

Operator 3

NAV unitUSDC, 6 decimals

Latest inputs block49480010

Winning result hash

Latest attested NAV500.000000 USDC

Three operators re-execute the same component against the same input block. Today the desk runs them. The shape does not change when independent operators do.

Activity

Action	Detail	Time
Leverage rebalancedmodeled	2.46x → 2.50x	2d ago
Leverage rebalancedmodeled	2.56x → 2.50x	5d ago
Leverage rebalancedmodeled	2.55x → 2.50x	8d ago
Leverage rebalancedmodeled	2.56x → 2.50x	11d ago
Vault published	by Priime Labs · $500 attested	27d ago