Roles

Owner

The owner of a Morpho Vault can range from a DAO, traditional asset management, crypto-native risk expert, RWA risk expert, or even an autonomous algorithm.

Each vault can only have one owner and this address can set additional roles including one curator, one guardian, and multiple allocators to help manage the vault.

Curator

The Curator is responsible for setting the bounds of the vault by enabling or disabling certain Morpho markets and modifying supply caps.

Each vault can have one Curator.

Allocator(s)

An allocator is responsible for optimizing APY on the assets deposited in the vault by dynamically supplying and rebalancing across markets within the bounds set by the Curator.

A vault can have multiple Allocator roles. This role can be performed manually or automated using bots.

Guardian

The Guardian can revoke any action in the pending timelock including a change to the guardian, by the owner, and modifications to supply caps. The Guardian could be a DAO made up of vault depositors.

A vault can only have one Guardian which is responsible for protecting the interests of vault depositors.

For more on each of these roles and their permissions, visit the Morpho Vaults README.