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Every Dynamo Vault can only allocate capital to markets that the DAO has explicitly whitelisted for that vault. This page explains the whitelisting process and lists the chains and markets currently approved.
Whitelists are managed per vault, per chain. A market being whitelisted on one Dynamo Vault does not automatically whitelist it on any other.

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Why whitelists exist

Morpho is permissionless, anyone can spin up a new market with any collateral, any oracle, and any LLTV. That openness is powerful, but it means a vault left to allocate freely could end up in markets with unreliable oracles, aggressive LLTVs, or misconfigured parameters. Dynamo Vaults eliminate that risk by requiring every market to be approved by DAO governance before any capital can reach it. The whitelist is the security perimeter of each vault. This approach gives depositors:
  • Predictable exposure — the vault cannot suddenly rotate into a market the community has not vetted.
  • Auditable risk — the full set of reachable markets is visible on-chain and in the Dynamo UI.
  • Community-aligned curation — the same DYNAMO holders who carry economic exposure also approve the markets.

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The DAO whitelisting process

Adding (or removing) a market on a Dynamo Vault’s whitelist goes through the standard governance lifecycle:
1

Forum discussion

A community member, contributor, or curator drafts a whitelisting proposal on the Dynamo governance forum, including:
  • The target Dynamo Vault
  • The Morpho Blue market (chain, loan asset, collateral asset, oracle, IRM, LLTV, market ID)
  • Rationale: why this market fits the vault’s mandate
  • Risk analysis: oracle source, LLTV, TVL, list date, risk tier
2

Risk review

The proposal is reviewed against the vault’s risk framework. Key inputs include the Risk Dashboard, the market’s risk rating, and the market parameters (LLTV, oracle, IRM, caps).
3

On-chain proposal & vote

Once the discussion has stabilized, the proposal is moved to an on-chain vote. DYNAMO holders, directly or via delegation, signal approval or rejection.
4

Execution

If the vote passes, the vault’s whitelist is updated on-chain. The market becomes reachable by the vault’s allocation methodology. If rejected, the market remains off-limits.
5

Ongoing review

Whitelists are not set-and-forget. The DAO can vote at any time to remove or down-weight a whitelisted market if its risk profile changes (e.g., oracle issues, TVL collapse, LLTV change on the underlying market).
Whitelist changes interact directly with the allocation methodology. Adding a market does not automatically mean the vault will allocate to it, the methodology determines weights.

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Supported chains and Dynamo Vaults

Morpho is deployed across many chains. Dynamo Vaults are only live on the chains listed below. Other Morpho chains may be added in future via DAO vote.
ChainMorpho deployedDynamo Vaults liveWhitelisted markets
Ethereum mainnet✅🔜 At launchTBD
Base✅🔜 Pending DAO vote—
Arbitrum✅🔜 Pending DAO vote—
OP Mainnet✅🔜 Pending DAO vote—
Polygon POS✅🔜 Pending DAO vote—
Unichain✅🔜 Pending DAO vote—
World Chain✅🔜 Pending DAO vote—
Katana✅🔜 Pending DAO vote—
HyperEVM✅🔜 Pending DAO vote—
Other Morpho chains✅🔜 Not active—
Morpho is deployed on 30+ chains. The table above lists the chains most relevant to Dynamo Vaults at and around launch. The authoritative list of all Morpho deployments is maintained in the Morpho documentation.

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Per-vault whitelists

VaultWhitelisted Markets
Dynamo Mainnet USDC Prime