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September 21, 2026

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CRYPTO·COINBEAT

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Best DeFi Vault Curators · Rank 12 of 14

MEV Capital review

Mainly a case study in curator risk; what remains is a small set of Morpho vaults.

mevcapital.com ↗

Scored by Maria FernandezLast verified September 21, 20267 scored facts

Score5.2

52 of 100 points

The short answer

MEV Capital scores 5.2 out of 10 and ranks #12 of 14 in the best defi vault curators table, strongest on tenure as curator (10.0) and weakest on depositor losses (0.0).

MEV Capital is a DeFi investment and risk-management firm, active since 2020, that curated Morpho, Euler, Mellow/Symbiotic and other vaults on many EVM chains. After heavy losses in the Oct–Nov 2025 Elixir/Stream contagion, its curated TVL fell from about $1.5B to around $12M, and Belem Capital took over its institutional management team in early 2026.

Key facts on record

Primitives
Morpho, Ember
Networks
4

What the record shows

7 facts, each converted to points by the tables published in the table’s methodology. Each score below is read from the fact printed under it, with its source and the date it was checked.

MEV Capital on assets under curation

4.0/ 20% of the score

$12M under curation.

8 of 20 pts · api.llama.fi · checked September 21, 2026

MEV Capital on tenure as curator

10.0/ 10% of the score

First vault 2024-06 — 2 years 3 months as of 2026-09-21.

10 of 10 pts · coindesk.com · checked September 21, 2026

MEV Capital on depositor losses

0.0/ 25% of the score

Bad debt on record, not covered. November 2025: bad debt of nearly 3.6% of TVL in its Ethereum Morpho USDC vault.

0 of 25 pts · protos.com · checked September 21, 2026

MEV Capital on public reporting

4.7/ 15% of the score

One-off reports only.

7 of 15 pts · mevcapital.com · checked September 21, 2026

MEV Capital on performance fee

7.0/ 10% of the score

10% performance fee.

7 of 10 pts · api.morpho.org · checked September 21, 2026

MEV Capital on safeguards

10.0/ 10% of the score

Timelock and guardian.

10 of 10 pts · api.morpho.org · checked September 21, 2026

MEV Capital on primitives and networks

10.0/ 10% of the score

4 primitive–network pairs.

10 of 10 pts · api.morpho.org · checked September 21, 2026

Quick answers

What is MEV Capital best for?
Mainly a case study in curator risk; what remains is a small set of Morpho vaults.. MEV Capital is a DeFi investment and risk-management firm, active since 2020, that curated Morpho, Euler, Mellow/Symbiotic and other vaults on many EVM chains.
Where does MEV Capital rank among best defi vault curators?
#12 of 14, scoring 5.2 out of 10 — 52 of 100 points.
What is the weakest part of MEV Capital?
Depositor losses at 0.0. Bad debt on record, not covered. November 2025: bad debt of nearly 3.6% of TVL in its Ethereum Morpho USDC vault.

Strengths and weaknesses

In its favour

  • Early multi-primitive curator: a launch curator of the Mellow/Symbiotic restaking vaults in June 2024, with Morpho vaults from July 2024.
  • Its main remaining Morpho vault (MEV Capital wETH) has a 3-day timelock and a guardian.

Against it

  • Realized depositor losses in Nov 2025: about a 3.5% haircut on its Ethereum Morpho USDC vault and 12% on the Arbitrum vault from sdeUSD/xUSD, with only third-party (Elixir) claims for partial recovery.
  • Little remains after the collapse: AUM is about $12M, the website figures are out of date, and there is no recurring public reporting.

How MEV Capital compares

14 services in best defi vault curators

  1. 01Steakhouse FinancialStablecoin depositors and fintech integrators who want conservative, blue-chip-collateral Morpho vaults.10.0
  2. 02SentoraInstitutions and stablecoin issuers looking for a white-label curated vault with a research-heavy risk desk.9.8
  3. 03kpkConservative USDC/ETH depositors and DAOs who want low-fee Morpho vaults with strong governance controls.9.2
  4. 04YearnDeFi-native depositors who want Morpho USDC/ETH exposure with an openly published risk-scoring method.8.2
  5. 05RockawayXDepositors who want RWA and private-credit yield through Morpho or Kamino and accept a newer curator.8.1
  6. 06GauntletDepositors who want low-fee Prime-tier stablecoin vaults across many chains from a long-running quant risk firm.6.7
  7. 07KeyrockInstitutions that want a market maker's credit view on USDC lending, including on the Arc chain.6.7
  8. 08BitwiseAdvisers and institutions that want a known asset-manager brand curating an RWA-backed stablecoin lending vault.6.4
  9. 09SparkStablecoin depositors who want long timelocks and Sky-ecosystem backing.6.2
  10. 10K3 CapitalDepositors looking for Euler-based ETH and stablecoin yield on newer chains like Monad and Plasma.5.9
  11. 11HyperithmStablecoin depositors who want tiered-risk Morpho vaults on Monad and Ethereum from a quant-trading firm.5.4
  12. 12MEV Capitalyou are hereMainly a case study in curator risk; what remains is a small set of Morpho vaults.5.2
  13. 13Re7 LabsExperienced users who want long-tail chains and assets and accept higher curator risk.4.7
  14. 14UltraYieldUsers who want Edge Capital's market-neutral strategy vaults more than a large Morpho/Euler lending book.4.1