v0 previewGrades are draft or provisional: produced under Methodology v0.2.1 from public evidence, pending re-verification and issuer right-of-reply. Nothing here is investment advice, and these are not credit ratings.
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Gauntlet USDC Prime (Morpho)

Gauntlet (curator) · Curated stablecoin lending vault · Ethereum · as of 2026-07-11

PILOT COVERAGE (Ring 1). Conservative-mandate vault from the largest US-jurisdiction quant curator (~$900M across products, per CuratorWatch); no Stream exposure. Snapshot refresh required.

B+
74.6
provisionalconf medium
Haircut: 15.5%
base 10% (B+) x 1.25 (medium confidence) + 3pp class + 0pp flags
Illustrative — not a margin requirement.
Collateral quality76 · 25%
Majors-focused mandate; verify current. [1]
Exit liquidity74 · 20%
Managed liquidity buffer; verify current. [1]
Concentration68 · 15%
Multi-market; moderate. [1]
Oracle risk72 · 15%
Standard stack; per-market review pending. [1]
Curator track record80 · 15%
Decade-adjacent quant risk history (Aave engagements etc.); avoided Stream. [1]
Transparency & governance78 · 10%
Public methodology posts; US entity. [1]
What would change this grade: Same as Steakhouse vault: allocation drift or oracle-hardcoded market exposure.
Live price

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Model signals
Not yet computed

The quantitative signal layer (stress-tested loss distributions, peg/leverage/backing metrics) is in development — see pivot/08_QUANT_ENGINE_SPEC.md. When live, signals are computed continuously by a model; grades are always signed by the analyst. The two are shown separately and never conflated.

Evidence appendix
Collateral quality: [1]
Exit liquidity: [1]
Concentration: [1]
Oracle risk: [1]
Curator track record: [1]
Transparency & governance: [1]
As of 2026-07-11 · Methodology v0.2.1