Most stablecoin yield in DeFi still comes from crypto-native collateral. Real-world assets (RWAs) are increasingly the collateral backing sustainable yields beyond incentives, but lending markets today mostly offer mixed exposure, blending blue-chip crypto collateral with RWAs.

KPK's USDC Yield RWA vault on Morpho closes that gap by providing tailored, overcollateralised lending exposure to a curated set of RWA collateral that is less correlated with the broader crypto market. Depositors supply USDC and earn the borrowing rates paid by holders of tokenised real-world assets across a curated set of isolated markets.

The RWA collateral standard

Every market in the vault clears KPK's Risk Framework before it's added, and carries its own exposure cap sized to risk tier, so no single RWA issuer or structure can dominate the vault. 

The current collateral focuses on private credit, spanning prime brokerage financing (FalconX), warehouse facilities, forward-flow programs, and credit lines (3Jane, Midas). The collateral set is designed to expand as new RWA structures clear KPK's due diligence.

Automation

The vault's automation focus is on exit readiness: one agent continuously monitors every market for stress, triggering automated actions in response to exploit detection, pause events, and other predefined conditions, while managing exits by pulling capital out ahead of those risks rather than after them. Each trigger is calibrated to the specific collateral it watches, rather than a single blanket threshold applied across the vault.

Yield RWA targets at least 50% of its balance as instant-withdrawable liquidity, defended continuously across deposits and withdrawals.

Who this is for

The Yield RWA vault is built for capital that wants yield from real-world-asset-backed credit without underwriting individual RWA lending markets itself: DAOs and protocol treasuries diversifying beyond native-token yield, crypto-native funds and foundations with underdeployed stablecoin balances, and institutional treasury holders that need defined, non-custodial exposure to this collateral type.

Vault | Docs | 0x7a72bcD2c3F7F7e4D6679170a0625bAB15D7DDa1