sky.money proposes new Morpho vault markets and sUSDS/USDT migration

What happened

sky.money announced planned allocation changes for its Morpho USDT Savings and USDS Flagship vaults, including two new isolated markets and a gradual migration away from an existing sUSDS/USDT market.

What changed

The proposed replacement sUSDS/USDT market uses a 96.5% LLTV and caps the USDT oracle leg at $1.00. A PT-sUSDS-26NOV2026/USDS market with a 91.5% LLTV and linear-discount oracle was also slated for the USDS vault. The old market's utilization and rates would be increased gradually to encourage migration.

What did not change

The record does not establish execution on-chain and does not identify the held Steakhouse-curated Morpho vaults as affected. Morpho Blue's core contracts were not described as changing.

Confirmed

• The proposed capped sUSDS/USDT market ID is 0x26b178d49895f80ca3c39b2745efc4cd9adcddfcc73dae93e531e86977ec4d96.
• The proposed PT-sUSDS-26NOV2026/USDS market ID is 0x9a8dab6de1059e6dc66c34b358764b70effb289e514e237f3161ffb09eaaf24f.
• The announced LLTVs were 96.5% for sUSDS/USDT and 91.5% for PT-sUSDS/USDS.
• The announcement described a gradual migration incentive for borrowers in the older sUSDS/USDT market.

Still open

• On-chain execution and final vault allocations were not confirmed by the cached record.
• The realized liquidation and exit-liquidity effects of the capped oracle and high-LLTV markets remain unknown.

What it means for an advisor

• Monitor the new markets as examples of curator-specific oracle and high-LLTV risk within Morpho.
• Do not infer that these sky.money vaults or markets are covered by approval of separately diligenced Morpho vaults.
• No held-vault kill criterion is established because the record does not affect a vault identified as held.