# Floatless Savings

> Earn interest on AUSD you aren’t spending, through a Morpho vault on Monad mainnet.

Source: https://floatless.xyz/docs/floatless-savings

Floatless Savings lets you earn interest on AUSD you aren't spending. It runs on Monad mainnet, and you move money in and out from the **Save** tab.

## What Floatless Savings is

AUSD is a [stablecoin](https://floatless.xyz/docs/glossary), a digital dollar issued by Agora. Money you add to savings goes into Floatless Savings AUSD, a Morpho Vault V2 that Floatless set up and configured. It lends every deposit through Morpho's Grove x Steakhouse High Yield AUSD vault. [Morpho](https://morpho.org) is a lending protocol on Monad, and the interest its borrowers pay is what you earn.

The vault and its adapter are Morpho's own contracts, created by Morpho's factories. Floatless chose their settings, and those settings are public onchain. Every address is on [Contracts and verification](https://floatless.xyz/docs/contracts).

Your wallet receives the vault's shares, a token called fsAUSD, and the app shows what they're worth in AUSD. That number grows as interest builds up. With a passkey, you sign for your wallet on your phone and the key stays there. With email sign-in, it's an embedded wallet that the Floatless API signs for after you confirm in the app. [Keys and security](https://floatless.xyz/docs/security) explains both.

Savings work on Monad mainnet only. Monad testnet shows a [preview](https://floatless.xyz/docs/floatless-savings#testnet-preview) instead.

## Before you start

You need AUSD in your wallet and a little MON, Monad's own token. Deposits and withdrawals are Monad transactions, each with a small fee paid in MON. [Add money](https://floatless.xyz/docs/add-money) shows how to get both.

## Add money to savings

1. Open the **Save** tab. Once you have savings, the **Floatless Savings** card shows your balance and "Earning x% a year". Before you've saved anything, it leads with the rate, as "x% a year", and adds a line like "Your X AUSD would earn about Y AUSD a year here." Home has a **Savings** card too, with **Start saving** or **Add or withdraw**, and both open Save.
2. Tap **Add to savings**. It stays off until you have AUSD in your wallet. With none, the card says "Your wallet has no AUSD yet." and offers **Add AUSD to your wallet**, which opens Add money.
3. Enter an amount, or tap **All** to use all your AUSD. As you type, the sheet shows "About X AUSD a year at today’s rate".
4. Tap **Move to savings**. With a passkey, your phone asks you to confirm. With email sign-in, that tap is your confirmation.
5. The sheet shows **Moved to savings** and the amount. **View on Monadscan** opens the transaction, and **Done** closes the sheet.

A deposit usually takes two transactions, an approval for exactly the amount you entered and then the deposit itself. The app builds both and only ever deposits into the vault address built into the app. If the Floatless server reported a different vault, the app would stop before signing anything. After the deposit settles, the API reads it back from Monad and checks the vault's Deposit event for your wallet before it adds **Moved to savings** to your [history](https://floatless.xyz/docs/activity).

Deposits are capped at 100,000 AUSD across all savers for now. If the vault is full, the app tells you and the deposit doesn't go through, though the approval may already have gone through and cost a small MON fee.

## Take money out

1. On the **Floatless Savings** card, tap **Withdraw**. The sheet shows how much is ready to withdraw.
2. Enter an amount, or tap **All** to take out everything.
3. Tap **Withdraw** and confirm the same way as a deposit.
4. The sheet shows **Withdrawn to your wallet** and the amount, with a **View on Monadscan** link.

Your history shows **Withdrew from savings** once the API has checked the vault's Withdraw event. **Withdraw** stays off while nothing can be withdrawn.

## How much you can withdraw right now

What you can withdraw now can be less than your balance. When it is, the card says "Only X AUSD can be withdrawn right now", and the **Withdraw** sheet shows the amount as "ready to withdraw". Morpho lends the AUSD to borrowers, and only AUSD that isn't borrowed at that moment can leave right away. Floatless compares your balance with what the vault could pay out right now, meaning what it can pull back from Morpho plus any AUSD already sitting in the vault, and shows the smaller of the two.

When Morpho's markets are heavily borrowed, only part of your savings may be withdrawable until borrowers repay or rates rise. The rest keeps earning. If you ask for more than is available, the app tells you the most you can withdraw right now, and nothing is sent.

## If the usual withdrawal path is paused

A withdrawal normally pulls AUSD back from Morpho automatically. If that path stops working, for example because the vault's automatic link to Morpho was switched off, the app checks whether it can take your AUSD straight from Morpho instead. If it can, it shows the exact fee and offers **Withdraw straight from Morpho**.

Nothing happens until you tap that button, and it's a single transaction you confirm like any other. The fee is 0.01% of the amount taken from Morpho. It comes out of your own shares and stays in the vault with the other savers, so nobody can push everyone's savings out of Morpho for free.

## The rate you see

The card shows a line like "Earning 1.16% a year", and a note under the buttons says the rate is after fees. The API takes Morpho's current rate for the Grove x Steakhouse High Yield AUSD vault without WMON rewards, then takes off the 10% Floatless fee. WMON rewards accrue to the vault's adapter and never reach savers, so counting them would overstate what you earn. If Morpho reports 1.29%, you see 1.16%, which was roughly the rate on October 13, 2026.

The rate moves with borrowing demand on Morpho, so it can be higher or lower tomorrow. If Morpho can't be reached, the card says the rate is unavailable right now.

## See how savings grow

On the **Floatless Savings** card, tap **See how savings grow**. Enter an amount, then pick **6 months**, **1 year**, **2 years** or **5 years**. The chart shows the balance month by month at today's rate after fees. Drag across it to see the balance and the interest at any month, and the summary shows what you'd put in and the interest at the end.

It's an estimate. The rate changes with demand on Morpho, so the real interest will differ, and nothing moves until you add money to savings. On testnet it uses the mainnet rate.

## Testnet preview

Morpho isn't deployed on Monad testnet, so the testnet card shows a **Preview** badge and nothing is deposited. It shows about how much your testnet AUSD would earn in a year at the mainnet vault's live rate, with no buttons to add or withdraw. [Mainnet and testnet](https://floatless.xyz/docs/networks) explains the two networks.

## Fees

| Fee                       | Amount                                         | Who gets it                              |
| ------------------------- | ---------------------------------------------- | ---------------------------------------- |
| Performance fee           | 10% of the interest the vault earns            | Floatless, paid as new vault shares      |
| Deposit or withdrawal fee | None                                           | No one                                   |
| Management fee            | None                                           | No one                                   |
| Emergency exit            | 0.01% of the amount taken straight from Morpho | Stays in the vault with the other savers |
| Network fee               | A small amount of MON per transaction          | The Monad network                        |

The 10% comes out of interest only, so the AUSD you put in isn't charged. [Fees and limits](https://floatless.xyz/docs/fees-and-limits) covers every fee in Floatless.

## Who can change what

The vault's powers are split across three separate keys, so a leaked curator or allocator key can't take it over.

| Role      | What it can do                                                                                                                                                       |
| --------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------- |
| Owner     | Replace the curator, cancel any pending change, lower the deposit cap, and step in as backup allocator. It also receives the 10% fee.                                |
| Curator   | Propose higher caps or changes to adapters, fees, allocators or gates, which decide who may deposit or withdraw. Each change waits 3 days before it can take effect. |
| Allocator | Move money between the vault and its one adapter, choose the path deposits and withdrawals take to Morpho, and cap how fast the vault's value can grow.              |

All 17 of the vault's timelocked functions wait 3 days, so adding or removing an adapter, raising a cap, or changing fees, gates or allocators shows up onchain before it applies, and you can leave first. The owner can cancel a change during that window. The vault can only add adapters from Morpho's adapter registry, and that setting is locked for good. If the allocator key leaked and someone used it to break withdrawals, the owner can restore them right away as backup allocator.

The addresses of all three keys are on [Contracts and verification](https://floatless.xyz/docs/contracts#who-can-change-the-savings-vault).

## Risks

- Your AUSD is lent to borrowers through Morpho markets. If a market takes bad debt, the Morpho Vault V1.1 that Floatless Savings lends through doesn't show the loss in its share price, so the savers who leave last could absorb it.
- Withdrawals depend on Morpho having unborrowed AUSD, so part of your savings may have to wait when markets are heavily borrowed.
- The three keys belong to the Floatless team and aren't a multisig yet. The 3-day wait and the owner's power to cancel changes limit what a leaked key could do.
- Floatless Savings holds only AUSD, so its value depends on AUSD keeping its dollar value.
- The vault, the adapter and Morpho's markets are smart contracts, and a bug in any of them could lose money.

## How it was checked before mainnet

- An adversarial review of the vault's key powers, economics, deployment and tests, with a skeptic challenging every finding, confirmed 12 issues. All of them were fixed before deployment, and several attacks were replayed on a copy of Monad mainnet.
- A fork test suite runs against live Morpho contracts on a copy of Monad mainnet, deploying the vault with the same script as the real one. It has 12 attack and configuration tests, such as a leaked curator or allocator key and a front-run deployment, 4 fuzz tests with random inputs, and 5 invariants, rules that must keep holding through random deposits, withdrawals, attacks and allocator moves. Every invariant run ends by checking that each saver can still get their money out.
- After the real deployment, a read-only check compared the live vault with the intended settings, including that no setup change was left pending.

The commands to run these checks yourself are on [Contracts and verification](https://floatless.xyz/docs/contracts#check-the-savings-vault-yourself), and the recorded mainnet deposit and withdrawal are on [Live proof](https://floatless.xyz/docs/proof).