# Where your money goes

> Every place the vault may lend to, what each one is, and its live rate.

The vault may lend to the places below. Autopilot picks among them using [its rules](/docs/autopilot). The table shows each place's rate now, after fees, and the vault's share in it.

## Lending vaults on Morpho

Morpho vaults lend to borrowers who put up more collateral than they borrow. A curator sets which collateral is allowed and how much.

| Place | Curator | What it lends against |
|---|---|---|
| [Steakhouse High Yield](https://app.morpho.org/base/vault/0xbeeff7aE5E00Aae3Db302e4B0d8C883810a58100) | Steakhouse Financial | A wider set of collateral, for a higher rate |
| [Steakhouse Prime](https://app.morpho.org/base/vault/0xbeef0e0834849aCC03f0089F01f4F1Eeb06873C9) | Steakhouse Financial | Blue-chip collateral |
| [Gauntlet Prime](https://app.morpho.org/base/vault/0xeE8F4eC5672F09119b96Ab6fB59C27E1b7e44b61) | Gauntlet | Blue-chip collateral |
| [Spark](https://app.morpho.org/base/vault/0x7BfA7C4f149E7415b73bdeDfe609237e29CBF34A) | Spark | Blue-chip collateral |
| [Clearstar](https://app.morpho.org/base/vault/0x91C056B6d4311a743614FBc03ac32d4E6A2d3a3c) | Clearstar | Coinbase-wrapped assets such as cbBTC and cbETH |

## Morpho markets

The vault can also lend straight to two Morpho markets.

| Place | Borrowers put up |
|---|---|
| [Bitcoin loans](https://app.morpho.org/base/market/0x9103c3b4e834476c9a62ea009ba2c884ee42e94e6e314a26f04d312434191836) | Coinbase Bitcoin (cbBTC) |
| [Ether loans](https://app.morpho.org/base/market/0x8793cf302b8ffd655ab97bd1c695dbd967807e8367a65cb2f4edaf1380ba1bda) | Ether (WETH) |

## Lending markets

| Place | How it works |
|---|---|
| [Fluid](https://fluid.io/lending/8453) | Lends to borrowers on Fluid. The pool is small, so large withdrawals from it can wait for borrowers to repay. |
| [Aave](https://app.aave.com/reserve-overview/?underlyingAsset=0x833589fcd6edb6e08f4c7c32d4f71b54bda02913&marketName=proto_base_v3) | Lends to borrowers on Aave, the largest lending market onchain. The rate follows borrowing demand. |

## Protocol limits

All Morpho vaults and markets count as one protocol, so together they hold at most 40% of the vault. Fluid and Aave each hold at most 40% too. A problem at one protocol can't touch more than 40% of savings.