---
title: "Gauntlet USDC Prime V1 (gtUSDC) Stablecoin Analytics"
canonical: "https://pharos.watch/stablecoin/gtusdc-gauntlet/"
description: "Build-time stablecoin profile for Gauntlet USDC Prime V1 (gtUSDC). Live price, supply, peg, liquidity, and flow data are served by the Pharos API."
dateModified: "2026-05-15"
---



# Gauntlet USDC Prime V1 (gtUSDC)

**Peg:** US Dollar

**Backing:** Crypto-Collateralized

**Governance:** CeFi-Dependent

**Status:** active

## Overview

gtUSDC is a Gauntlet-curated MetaMorpho V1 USDC vault, an ERC-4626 wrapper compounding {{term:yield-bearing}}lending yield{{/term}} across vetted Morpho Blue markets on Ethereum. Gauntlet USDC Prime V1 (gtUSDC) is the Ethereum-only V1 Morpho Prime vault curated by Gauntlet — a $145M MetaMorpho deployment across vetted USDC lending markets on Morpho Blue, distinct from the separately tracked Prime V2 vault (gtusdcp-gauntlet) at a different contract address. Share price appreciates against USDC as borrower interest accrues, with withdrawals dependent on borrower {{term:liquidation}}liquidation{{/term}} flow and Morpho market depth. Tracking the V1 and V2 vaults as separate entries exists for the same reason Pharos tracks Steakhouse USDC and Steakhouse USDT separately — distinct curated portfolios warrant their own risk telemetry.

## Collateral

USDC deposited into a Gauntlet-curated MetaMorpho vault on Morpho Blue; the curator allocates across conservative USDC lending markets backed by blue-chip crypto and real-world asset collateral

## Peg Mechanism

ERC-4626 MetaMorpho vault shares appreciate against USDC as borrower interest accrues; withdrawals redeem vault shares for available USDC liquidity or wait for Morpho market liquidity to return

## Contracts

| Chain | Address | Decimals |
| --- | --- | --- |
| ethereum | `0xdd0f28e19c1780eb6396170735d45153d261490d` | 18 |

## Live Data

Real-time price, supply, peg score, liquidity, and flow data live at https://api.pharos.watch/api/stablecoin/gtusdc-gauntlet.