> For the complete documentation index, see [llms.txt](https://maxim-speransky.gitbook.io/doc/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://maxim-speransky.gitbook.io/doc/gitbook-vaults/gitbook-enhanced-yield-vault.md).

# Enhanced Yield Vault

The Enhanced Yield Vault targets a yield premium over conservative lending strategies for the same loan asset by allocating capital across a wider range of eligible markets and collateral assets. The mandate accepts higher collateral, liquidity, maturity, and structural risks within defined limits.

## Vault Details

| Field         | Value                                                                                                                                                     |
| ------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------- |
| Vault address | [`0x87c221938F2Ce88B72EFcC8480e163AD7BD61a23`](https://app.morpho.org/ethereum/vault/0x87c221938F2Ce88B72EFcC8480e163AD7BD61a23/speransky-yield-strategy) |
| Chain         | Ethereum                                                                                                                                                  |
| Loan asset    | USDC                                                                                                                                                      |
| Status        | Live                                                                                                                                                      |

## On-chain Controls

> On-chain controls constrain changes that could expand exposure, alter fees, or weaken operational safeguards. Morpho remains the source of truth for live allocations, cap values, fees, roles, and adapter configuration.

### Public Access Without KYC

| Control               |    Timelock |
| --------------------- | ----------: |
| `Receive Assets Gate` | `Abdicated` |
| `Receive Shares Gate` | `Abdicated` |
| `Send Shares Gate`    | `Abdicated` |
| `Send Assets Gate`    |      3 days |

### Exposure Increases Require a Conservative Review Window

|                         |        |
| ----------------------- | -----: |
| `Increase Relative Cap` | 3 days |
| `Increase Absolute Cap` | 3 days |

### Allocation Perimeter Changes

|                  |        |
| ---------------- | -----: |
| `Add Adapter`    | 3 days |
| `Remove Adapter` | 7 days |

### Fee Changes

|                   |        |
| ----------------- | -----: |
| `Management Fee`  | 3 days |
| `Performance Fee` | 3 days |

### Exit Protection

|                                |       |
| ------------------------------ | ----: |
| `Set Force Deallocate Penalty` | 1 day |

### Governance Hardening Requires Delay

|                     |        |
| ------------------- | -----: |
| `Increase Timelock` | 7 days |
| `Abdicate`          | 7 days |