Proposal: Add Support for Morpho EURC Vault on Base

General
1

Hi Seamless community,

I’d like to propose adding support for a Morpho EURC vault on Base to build on the solid foundation Seamless has already laid with vaults for USDC, cBBTC, and ETH.

Seamless is becoming a go-to protocol for DeFi-native credit on Base, and expanding beyond USD-denominated assets into euro-backed stablecoins like EURC (by Circle) would unlock new use cases for European DeFi users and anyone looking to diversify stablecoin exposure.

Why EURC via Morpho on Base?

  • Diversified Collateral Options: Seamless already supports USDC, cBBTC, and ETH—adding EURC would offer a non-USD stablecoin to hedge currency risk and broaden participation.

  • Trusted Stablecoin: EURC is a fully-reserved, MiCA-aligned euro stablecoin issued by Circle, giving it strong credibility for integrations.

  • Yield-Optimized Lending: Morpho Blue vaults offer efficient, peer-to-peer interest rate models. Adding EURC from Morpho aligns with Seamless’s vision of smart yield optimization.

  • Asset: EURC

  • Source: Morpho Blue lending vault

  • Network: Base

  • Use: Yield generation + potential for euro-denominated borrowing/lending markets

2

Hey @runner10 , thanks for presenting this proposal. Opening a EURC vault could be a logical continuation of the previous legacy EURC pool. At the same time, I have concerns wether the vault will bring sustainable ration of efforts/recourses vs added value. As I can see, the cumulative TVL of all existing EURC vaults on Morpho is less than $10m, meaning that the demand for EURC is not very high yet. That is why I tent to be a little bit sceptical toward focusing recourses on that.