Agora USD
AUSD is a stablecoin issued by Agora with reserves custodied by State Street and managed by VanEck.
AUSD Turbo is a first-of-its kind noncustodial vault allowing AUSD holders to access high-leverage strategies, through the Morpho v2 construct with our custom adapters.
High Leverage
Turbo vaults (docs) target a 10% liquidity rate held in repo and the remainder programmatically allocated to a simple leverage strategy.
NAV accumulates when the cost of borrowing is persistently lower than the return on the underlying strategy. NAV decreases when the borrow cost is higher. The collateral selected fits our risk framework to mitigate solvency risks.
Positions are intended to be held for an extended period (>30 days) to avoid slippage from swapping into positions from diluting the NAV.
Uses Steakhouse Box custom adapters to extend the noncustodial features of Morpho v2 vaults to additional strategies beyond borrow/lend. As this vault does not use the Morpho adapter registry, it is not available on the Morpho frontend.
Users are advised Turbo vaults are significantly less liquid than repo vaults and face possibility of loss.
Box Turbo AUSDBox | CC | |||
Steakhouse High Yield InstantMorpho Vaults V2 | B |