Wintermute USDC Select (armUSDCs) stablecoin analytics
Answer First
What is Wintermute USDC Select (armUSDCs)?
armUSDCs is Wintermute's USDC lending vault on Ethereum; shares redeem at NAV when liquidity is available and bear strategy losses. The static profile records its USDC-denominated NAV accounting mechanism as: ERC-4626 shares accrue lending interest and realize losses against USDC; direct redemption uses idle USDC and a configured liquidity adapter, subject to market liquidity. In-kind deallocation retains underlying lending-position exposure.
Is armUSDCs safe?
Pharos does not mark armUSDCs as absolutely safe. Static metadata says Wintermute USDC Select uses a CeFi-Dependent governance model and Crypto-Collateralized backing, with live reserve feed configured; the main caveat is that freeze exposure is inherited through upstream collateral, custody, or wrapper dependencies. Treat the live peg, liquidity, reserve, dependency, and Safety Score sections below as the current risk read.
Static Profile
Static stablecoin profile
Wintermute USDC Select (armUSDCs) static profile: governance model CeFi-Dependent; backing model Crypto-Collateralized; peg USDC-denominated NAV.
Variant Relationship
Wintermute USDC Select (armUSDCs) is modeled as a strategy vault variant of USD Coin (USDC). Pharos treats parent stress, redemption, mint authority, and dependency context as relevant to this variant before interpreting its own live metrics.
AI summary / Updated Oct 2, 2026
Wintermute USDC Select lends USDC through Morpho markets spanning wrapped bitcoin, liquid-staking and principal-token collateral. The strategy converts borrower interest into a rising share-to-USDC rate, with losses borne through the same accounting mechanism. A four-of-six Safe owns the vault, but the signing threshold does not establish independent key custody, and fee-setting actions carry no configured delay.
- Collateral
- USDC lender positions in six Morpho markets secured by cbBTC, WBTC, wstETH, principal-token (PT-reUSD-10DEC2026, PT-USDat-14JAN2027) and nested Morpho V1 USDC vault-share (v-wmtUSDC) collateral
- Peg Mechanism
- ERC-4626 shares accrue lending interest and realize losses against USDC; direct redemption uses idle USDC and a configured liquidity adapter, subject to market liquidity. In-kind deallocation retains underlying lending-position exposure.
- Jurisdiction
- Not disclosed in the static profile.
- Proof Of Reserves
- No proof-of-reserves entry in the static profile.
- Contracts
- 1 deployment tracked across Ethereum.
Next Actions
Exact bot target: /subscribe dews,depeg,safety armusdcs-wintermute
Source: checked-in StablecoinMeta profile fields. Live price, supply, reserve, liquidity, event, and safety data load in the interactive dossier below; the summary above was last updated Oct 2, 2026.
armUSDCs quick answers
What is Wintermute USDC Select (armUSDCs)?
armUSDCs is Wintermute's USDC lending vault on Ethereum; shares redeem at NAV when liquidity is available and bear strategy losses. The static profile records its USDC-denominated NAV accounting mechanism as: ERC-4626 shares accrue lending interest and realize losses against USDC; direct redemption uses idle USDC and a configured liquidity adapter, subject to market liquidity. In-kind deallocation retains underlying lending-position exposure.
Is armUSDCs safe?
Pharos does not mark armUSDCs as absolutely safe. Static metadata says Wintermute USDC Select uses a CeFi-Dependent governance model and Crypto-Collateralized backing, with live reserve feed configured; the main caveat is that freeze exposure is inherited through upstream collateral, custody, or wrapper dependencies. Treat the live peg, liquidity, reserve, dependency, and Safety Score sections below as the current risk read.
What backs armUSDCs?
Pharos classifies armUSDCs backing as Crypto-Collateralized. Collateral, per the static profile: USDC lender positions in six Morpho markets secured by cbBTC, WBTC, wstETH, principal-token (PT-reUSD-10DEC2026, PT-USDat-14JAN2027) and nested Morpho V1 USDC vault-share (v-wmtUSDC) collateral Reserve evidence: live reserve feed configured.
Can armUSDCs be frozen or blacklisted?
Based on tracked contract metadata and blacklist coverage, freeze exposure is inherited through upstream collateral, custody, or wrapper dependencies. Live freeze and blacklist events for armUSDCs, when applicable, appear in the dossier below.
