# Sky.money adds five live Morpho-based stablecoin vaults outside the existing savings exposure

> The Sky.money interface now exposes strategy-driven lending vaults alongside the Sky Savings Rate. Users can take collateral, oracle, smart-contract, utilization, and withdrawal-liquidity risk that is not present in the same form in a direct sUSDS savings position.

- URL: https://riadefi.com/on-chain/2026-08-06-sky-lending-sky-vaults-launch/
- Type: Launch or access
- Stage: Live launch
- Evidence: confirmed
- Materiality: material
- Event date: 2026-08-06
- Version: 1, published 2026-08-22 (first published 2026-08-22)
- Follow-up: 2026-08-28
- Advisor-relevant: no
- Affects: Sky (protocol)

## What happened

Sky.money documented five live non-custodial vaults accepting USDS, USDC, or USDT and deploying deposits into defined Morpho lending strategies. The source reported $121.7 million deployed across the vaults as of August 6.

## What changed

The Sky.money interface now exposes strategy-driven lending vaults alongside the Sky Savings Rate. Users can take collateral, oracle, smart-contract, utilization, and withdrawal-liquidity risk that is not present in the same form in a direct sUSDS savings position.

## What did not change

The launch did not change the Sky Savings Rate, the USDS-to-sUSDS accounting mechanism, or the existing Ketju approval, which covers only Ethereum USDS and sUSDS. Skybase states that it operates the interface and does not control the underlying protocol or vault strategies.

## Confirmed

- Five vaults were described as live: USDS Flagship, USDT Savings, and USDS, USDC, and USDT Risk Capital vaults.
- Each vault accepts a specified stablecoin and deploys it into a defined Morpho-based strategy.
- The source reported $121.7 million deployed across Sky Vaults as of August 6, 2026.
- Withdrawals depend on vault liquidity and can be delayed by high utilization in underlying lending markets.
- Vault yield is variable, market-driven, and may be below the Sky Savings Rate.

## Still open

- The exact contract addresses, curators, oracle configurations, caps, and live liquidity for each vault were not reconciled in this candidate review.
- No separate Ketju approval or position limit exists for any of the five vaults.
- The degree to which each vault depends specifically on Morpho Blue rather than another Morpho component was not independently resolved.

## What it means for an advisor

- Do not extend the existing sky-lending approval for Ethereum USDS/sUSDS to any Sky Vault.
- Create separate diligence for each vault before advisor use, including curator authority, collateral and oracle mapping, withdrawal-liquidity testing, and proposed-size exits.
- Ensure client and interface controls distinguish direct sUSDS savings exposure from the materially different Morpho vault exposures.

## Sources

1. [What Are Sky Vaults?](https://sky.money/blog/what-are-sky-vaults) · Sky.money / Skybase International · 2026-08-07


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Published by Ketju Research on RIADeFi (https://riadefi.com). Educational research for financial professionals; not investment, legal, tax, or compliance advice.