Morpho curator · 1 chain
Waterline review
Ranked #15 of 16
5.61/10
100% measured
Waterline curates two small Morpho vaults. It keeps the fee low, but its measured book contracted the most of any ranked curator over the quarter and nearly all of it sits in a single market.
The numbers
| Metric | Value | Score | Source |
|---|---|---|---|
| Assets under curatorship29% | $1.3M | 6.0/10 | Morpho 2026-09-22 |
| 90-day growth18% | -69% | 3.0/10 | Morpho 2026-09-22 |
| Concentration24% | 99.3% | 3.0/10 | Morpho 2026-09-22 |
| Utilisation12% | 89.9% | 9.0/10 | Morpho 2026-09-22 |
| Fee17% | 5% | 9.0/10 | Morpho 2026-09-22 |
Concentration and utilisation are AUM-weighted across the firm’s listed vaults. Each metric is scored 0–10 on fixed open-data thresholds (see the methodology). Active depositor counts have no reliable open feed, so that metric is left out of the rubric rather than estimated.
Strengths
- Utilisation: 89.9% (9.0/10)
- Fee: 5% (9.0/10)
Weaknesses
- 90-day growth: -69% (3.0/10)
- Concentration: 99.3% (3.0/10)
Who it’s for
Depositors comfortable with a smaller, more focused book in exchange for a specific market thesis.
Not for
Anyone who wants diversification: almost all of the book sits in one market, so its fate rides on that single position.
Waterline on Morpho Plain reference — not an affiliate link.