Cross-protocol curation + a senior / junior tranche split, all in one vault.

Two-layer risk product: cross-protocol curation underneath, senior / junior tranches on top.

Senior, junior, share price, leverage cap, premium.

Plain Morpho V2 vaults — one share class, one return stream. The un-tranched baseline LayerCover's curator tooling supports alongside Tranched Funds.

Wrapped Morpho V2 vaults with senior (lcSEN) and junior (lcJUN) share classes — what they are and why curators launch them.

Protected yield, premium drag, exit mechanics.

First-loss capital with premium income and a 10-day notice.

20% first-loss target enforced as a 4× leverage cap.

5 days senior, 10 days junior. Same lock and cancel semantics on both sides.

Owner-scheduled with a 10-day timelock.

Protocol fee, curator fee, and the keeper-side withdrawal fee.

Audits, reviews, and known limitations.

Deployed addresses by chain.

Common questions about tranched metavaults.

Where to start integrating.

Read state, deposit, withdraw in 5 minutes.

Public surface of the main contract.

Fungible ERC20 lcSEN / lcJUN with metavault-controlled mint, burn, and notice locking.

Read aggregator: one call, every field.

Every event the metavault emits.

Custom error selectors, when each fires.

GraphQL schema and query patterns.

Allocate across Morpho Blue / Euler V2 / Aave V4 from one vault, then wrap it in senior / junior tranches.

Fastest path from a curator wallet to a live tranched vault.

Curator-managed vs protocol-managed premium. The toggle on the deploy form, and what each implies.

What's on the curator (OPERATOR_ROLE), what's on the protocol (PROTOCOL_ROLE), and what's irreversible (gate abdication).

How Morpho V2 picks up adapter losses automatically via accrueInterest, when an adapter's realAssets() can lag economic reality, and the curator levers (forceDeallocate, decreaseCap) for the lag case.