ASPERN · due-diligence report
RockawayX USDC Yield
Morpho Vaults V2 · ethereum · ethereum-rockawayx-usdc-yield-e01810
Generated 2026-10-23 00:03:36 UTC. Every figure below carries the moment it was read, because a report is read later than it is made. Nothing here is a recommendation to invest. The live page carries the same readings and moves with them.
What it holds
How you get out
The contract imposes NO notice period: a redeem settles in the transaction that asks for it. That is not a promise of an instant exit — it is still subject to the vault having the money, which is the liquidity reading and a separate question — but there is no queue, no request step and no lock-up in the contract.
We derive 83.4% of this vault as withdrawable and ITS OWN accounting says 6.4%. Ours is the more generous of the two, and it is derived from idle cash plus what the markets it lends into have free, where theirs is the vault's own figure. Read the lower one before planning an exit.
Six risks, read separately
| Market | moderate | in the band |
| Liquidity | low | in the band |
| Concentration | low | in the band |
| Operating | low | in the band |
| Controller | low | outside the band |
| Evidence | not read | outside the band |
There is no overall figure and there will not be one. The band covers four of these and contains no reading of the controller at all, so a band of `low` beside a controller of `high` is not a contradiction: it is the thing this table exists to show.
What it advertised and what it returned
The published ratio divides the realised rate by the rate this vault quotes TODAY. Over 100 of the 213 days the return covers we hold its own quotes, it advertised between 5.44% and 13.24%, averaging 6.82%, and today's quote is near the BOTTOM of that range, so the published ratio flatters the delivery. Against the average it quoted, the realised rate is 101.52% of it. We hold no quote for the rest of the window, so this says what the venue was advertising while we watched and not across the whole return. 33 of those days we recorded ourselves and 67 come from the venue's own published history, which is the same fact read later rather than a different one.
Who controls it, and whether that has changed
We have watched who controls this vault since 2026-09-19 and nothing we record has moved in that window. That is not the same as a vault that has never changed hands: anything before 2026-09-19 predates this platform holding control state at all, and we do not reconstruct it from history.
What we cannot see
- · Whether it still takes deposits is not something we could establish.
- · Whether that notice period is real: Morpho states it and our own read of the controller found no timelock, so the figure beside `notice` rests on their word rather than on the contract.