Performance
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Carry involves leverage
Carry vaults (docs) involve borrowing against one collateral type to earn a higher yield in the loan asset.
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. Position constraints are encoded onchain in the Box adapter permissions. 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 XAUTBox | Unrated | |||
Idle | — |