Morpho Supply

The MorphoSupplyStrategy supplies the vault asset to exactly one Morpho Blue lending market, fixed at initialization. Funds come back to the vault only through settle(). It is deployed on the Robinhood mainnet fork.

What happens

Phase	What happens
Execute	Pull `supplyAmount` of the vault asset and supply it to the market.
Executed	Nothing is tunable. `updateParams` always reverts `NoTunableParams`.
Settle	Withdraw the whole position by shares, so accrued interest comes out and no dust is left, then push everything to the vault.

Batch calls:

Execute: [asset.approve(clone, supplyAmount), clone.execute()]
Settle:  [clone.settle()]

Settlement is all-or-revert. If the market cannot pay the full position back, Morpho’s own liquidity check reverts the withdrawal and settlement is retried later.

Init checks

The init data is (address morpho, MarketParams marketParams, uint256 supplyAmount). Init reverts when:

Error	Cause
`TierRegistryUnresolved`	The `vault → governor → tierRegistry` walk found no registry
`MorphoNotAllowed`	The Morpho singleton is not an allowed counterparty on that registry
`InvalidAmount`	`supplyAmount` is zero
`LoanAssetMismatch`	The market’s loan token is not the vault asset
`MarketNotCreated`	The market id has never been created on that Morpho contract

Execute re-checks the Morpho allowlist. Settlement does not, so a de-listing cannot freeze supplied capital.

Propose

The CLI resolves the market’s parameters from its id, then runs every _initialize check on-chain before sending anything, and reports all failures in one message.

sherwood strategy propose morpho-supply \
  --vault 0x... \
  --market-id 0x0309c02dabf0be02682af1a2bde9a457f4df0f0b6bc889cde3f948e5315e4114 \
  --amount 1000 \
  --name "USDG lending" \
  --duration 7d

That market lends USDG against spUSDG (91.5% LLTV), so it fits a USDG vault.

Flag	Description	Default
`--market-id <bytes32>`	Morpho Blue market to supply	required
`--amount <n>`	Vault asset to supply, human units	required
`--morpho <address>`	Morpho Blue singleton	the network’s `MORPHO_BLUE`

Risk notes

Liquidity risk at exit. If borrowers have taken most of the market’s supply, settlement reverts until liquidity returns. The vault stays locked while the proposal is open.
Market risk. Supplied capital is exposed to the market’s bad debt, which depends on its collateral, oracle and LLTV. Read the market parameters the CLI prints before you propose.

Addresses

Contract	Robinhood fork (9994663)
MorphoSupplyStrategy template	`0x5B55E1Da361573CB0788e750038567D2569BE41d`
Morpho Blue	`0x9D53d5E3bd5E8d4Cbfa6DB1ca238AEA02E651010`

Smart Contracts

Strategies

Governance

What happens

Init checks

Propose

Risk notes

Addresses

​What happens

​Init checks

​Propose

​Risk notes

​Addresses

What happens

Init checks

Propose

Risk notes

Addresses