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Earn Zap Router (Morpho)

EarnZapRouter is the one-signature entry point into Morpho Earn (VaultV2) on Robinhood Chain. Users hold nothing but ETH and sign ONE transaction — the router handles wrap → swap → deposit (and the reverse on exit).

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The zap flows

  • Vault shares mint directly to the user (onBehalf = user). The router tracks bookkeeping (balanceOfShares) but never takes custody of positions.
  • The WETH/USDG leg uses the 0.01% pool (POOL_FEE = 100) — the deepest WETH/USDG tier on the chain.
  • Both swap legs are slippage-bounded (amountOutMinimum): a sandwich beyond tolerance reverts the whole zap atomically.

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Fees

Cumulative lifetime exit fees are tracked publicly (totalExitFees) for transparency.

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Worked example

User zaps 1 ETH into a USDG Morpho vault (USDG = 1 USD): Later, redeeming all shares worth 3300 USDG:

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Security model

1. Vault allowlist — additive-only. Vaults are whitelisted at deploy or via addVault(); there is no removal. Every addition is emitted. The router can never be pointed at a hostile “vault” to farm share approvals. 2. No custody, no approvals over user funds. Users approve the router only for vault shares at exit time (VaultV2.redeem pulls from onBehalf = user). The router’s own token approvals cover only in-flight swap amounts produced inside the contract during a zap. 3. Checks-Effects-Interactions everywhere. The share bookkeeping is decremented before any ETH leaves — a malicious treasury or receiver cannot reenter into a stale position. 4. No stray ETH acceptor. The only ETH path out is the WETH unwrap; there is no state-changing fallback. Tokens that land on the router outside a zap (donations, misdirected transfers) can be rescued via sweepDust(token, amount) → treasury — zap flows never leave tokens at rest on the router.

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Beyond the zap

The Earn module surfaces (all read through the same client):
  • Morpho Borrow — supply collateral → borrow → repay → withdrawCollateral, direct Morpho Blue calls, no router, no custody. Full closes use a fork-safe repay-by-exact-shares path so closing never leaves debt residue.
  • Morpho Farms — Merkl rewards claiming for positioned users.
  • Longbow pools — supply/withdraw shortcuts with entry/exit guidance based on utilization; my-position cards pinned with badges.
  • Native stock tokens — the dividend and lootbox rails swap into the same canonical Robinhood Stock Tokens the swap legs use.
Next: NFT Loan Pool.