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Use Vaults (ma/mcToken)

In this tutorial, one will learn how to get some maToken or mcToken through 2 different manners.
A maToken (e.g. maUSDC or maUSDT) and mcToken (e.g. maUSDC or maUSDT) represent tokenized supply positions on Morpho-Aave and Morpho-Compound, respectively. They are created using ERC-4626 vaults.

There are 2 ways to get ma/mcTokens:

  1. 1.
    Through the vaults.morpho.xyz website:
    vaults.morpho.xyz website
  2. 2.
    Through Etherscan
  • How to swap a token for a ma/mcToken?
Let's take an example with USDT -> maUSDT.
A: Approve access to your USDT
First, check by yourself the contract address of the USDT​
and do the following steps:
  1. 1.
    Connect your wallet to the “web3 🔴” on Etherscan
  2. 2.
    Approve X amount of tokens on the USDT contract. The decimals of the token are in the decimals section in the “Read Contract” section.
  3. 3.
    Go to “Write Contract” section, enter the correct details into “2. approve”, and click “write” button
    _spender: the maUSDT vault address, in the Broken link section.
    _amount: 20000000 (20 tokens, 6 decimals)
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B: Deposit USDT into maUSDT vault
Once approved, you need to deposit the USDT into the vault.
  1. 1.
    Double-check the contract address of the maUSDT vault in the deployment section of the developers’ documentation of morpho.
  2. 2.
    Once confirmed, go navigate to the “Contract” tab and the “Write as Proxy” section, and fill receiver and assets like this:
    • receiver: your wallet address
    • assets: in the example, we use 10 000 000 (10 tokens, and 6 decimals)
    • ​
      ​
When it is done you should see the following kind of transaction.
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Congrats, you now possess some maToken or mcToken.
💡 If one wants to re-deposit other assets and has trouble doing it: -> start again this tutorial, but first approve an amount to 0, wait a minute and then restart entirely as written.