Quickstart

Before you start

• A wallet funded with a small amount of gas on the target chain.
• An ERC-20 you want the underlying vault to hold (USDC is the common case).

If you plan to run the vault from a Safe multisig in production, connect the Safe directly when you sign in. It makes the rest of the flow simpler.

1. Open the curator app

Sign in to the curator dashboard with your wallet. Pick the network you want to deploy on. You'll land on the Vaults list, which will be empty if this is your first vault.

2. Open the deploy form

Click Deploy. You'll see one form. Fill in:

• Curator: the address that will run the vault day-to-day. Defaults to your wallet. For production, point this at your Safe.
• Asset: the token your vault will hold (e.g. USDC).
• Premium managed by: pick Curator to hold the premium lever yourself, or Protocol to hand it to the LayerCover team. The premium field below auto-fills with a sensible default for whichever you picked.
• Initial premium: the senior-to-junior payment rate, in basis points (500 = 5% / year). Adjust if the auto-filled value doesn't match what you want.
• Label: a free-form name like "Steakhouse Prime USDC". Shown in our public listings and indexers.
• Advanced: you can usually ignore this; it sets a deterministic deploy address.

3. Wait for the green banner

Below the form, a status banner shows the predicted address for your new vault. It starts amber because the LayerCover team hasn't approved that address yet.

Copy the predicted address and send it to us. Once we approve it, the banner flips green and the Deploy button activates. Refresh isn't required; the page polls every few seconds.

4. Click Deploy

Sign one transaction. In that single transaction:

• A new Morpho vault is created.
• The senior + junior wrapper is deployed and connected to the Morpho vault.
• You receive the Morpho curator role; the premium lever lands wherever you chose in step 2.

Tx receipt is parsed; the success card shows the three new addresses (Morpho vault, LayerCover wrapper, gate) with explorer links.

5. Manage day-to-day

Day-to-day vault management (adapters, caps, timelocks, allocations, sentinels) is done through the Morpho Curator UI. The LayerCover wrapper is transparent to it; everything you'd normally do on a Morpho V2 vault works the same way.

That also includes setting your management fee and performance fee on the underlying Morpho V2 vault from the same interface. These are independent of the senior-to-junior premium rate, which is the only LayerCover-specific lever (see Premium control).

Before lenders arrive

Two small post-launch tasks are worth doing on day one:

• Seed the vault, then burn the receipts. Deposit a small amount on each side (10 USDC senior + 10 USDC junior is plenty). You'll receive lcSEN and lcJUN receipt tokens for each deposit. Transfer the full balance of both to the burn address 0x000000000000000000000000000000000000dEaD. Burning makes the seed permanent: no one can later redeem the tokens and unwind the share-price stabilisation. The LayerCover-side deploy scripts do the deposit-and-burn automatically when you launch through the team; if you launched via the curator app yourself, run it as a follow-up transaction.
• Send us your label and the wrapper address. We add it to the public Vaults listing so senior and junior lenders can find your vault. Once it's listed, anyone can deposit.

Common questions