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The VaultV2Factory contract provides a deterministic deployment mechanism for creating Morpho Vault V2 instances. It uses CREATE2 for predictable vault addresses and maintains a registry of all deployed vaults.

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Contract overview

The factory contract handles vault deployment and provides lookup functionality to verify vault authenticity and retrieve deployed vault addresses.

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Key features

  • Deterministic deployment: Uses CREATE2 with salt for predictable vault addresses
  • Vault registry: Tracks all deployed vaults with isVaultV2 mapping
  • Address lookup: Query deployed vault addresses by owner, asset, and salt
  • Event emission: Emits CreateVaultV2 event for indexing and tracking

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Factory deployment

The VaultV2Factory contract is a simple, immutable factory with no constructor parameters:
VaultV2Factory.sol
contract VaultV2Factory is IVaultV2Factory {
    mapping(address account => bool) public isVaultV2;
    mapping(address owner => mapping(address asset => mapping(bytes32 salt => address))) public vaultV2;

    function createVaultV2(address owner, address asset, bytes32 salt) external returns (address) {
        address newVaultV2 = address(new VaultV2{salt: salt}(owner, asset));

        isVaultV2[newVaultV2] = true;
        vaultV2[owner][asset][salt] = newVaultV2;
        emit CreateVaultV2(owner, asset, salt, newVaultV2);

        return newVaultV2;
    }
}

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Creating vaults

Use the createVaultV2 function to deploy new vault instances: 
function createVaultV2(
    address owner,
    address asset,
    bytes32 salt
) external returns (address)

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Parameters

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owner
address
The initial owner of the vault who will have administrative control
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asset
address
The ERC20 token address that the vault will accept as deposits
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salt
bytes32
A unique salt value for CREATE2 deployment to generate deterministic addresses

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Returns

The address of the newly deployed VaultV2 contract.

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Verifying vaults

The factory provides methods to verify vault authenticity and lookup deployed addresses:

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Check if address is a factory-deployed vault

bool isFactoryVault = factory.isVaultV2(vaultAddress);

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Lookup vault by parameters

address vault = factory.vaultV2(owner, asset, salt);
If no vault exists with the given parameters, this returns address(0).

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Computing vault addresses

You can predict the vault address before deployment using CREATE2 address calculation: 
bytes32 initCodeHash = keccak256(
    abi.encodePacked(
        type(VaultV2).creationCode,
        abi.encode(owner, asset)
    )
);

address predictedAddress = address(
    uint160(
        uint256(
            keccak256(
                abi.encodePacked(
                    bytes1(0xff),
                    address(factory),
                    salt,
                    initCodeHash
                )
            )
        )
    )
);
The predicted address calculation must use the exact same parameters (owner, asset, salt) that will be passed to createVaultV2.

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Events

The factory emits the following event when a vault is created: 
event CreateVaultV2(
    address indexed owner,
    address indexed asset,
    bytes32 salt,
    address indexed newVaultV2
);
This event allows you to:
  • Track all vault deployments
  • Index vaults by owner or asset
  • Monitor vault creation activity
  • Build off-chain registries of vaults

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Example usage

function testDeployVault() public {
    address owner = address(this);
    address asset = address(usdc);
    bytes32 salt = keccak256("my-vault-v1");

    // Deploy vault through factory
    address vault = factory.createVaultV2(owner, asset, salt);

    // Verify deployment
    assertTrue(factory.isVaultV2(vault));
    assertEq(factory.vaultV2(owner, asset, salt), vault);

    // Verify vault parameters
    assertEq(VaultV2(vault).owner(), owner);
    assertEq(VaultV2(vault).asset(), asset);
}
Each combination of (owner, asset, salt) can only be used once. Attempting to deploy with the same parameters will cause the transaction to revert.

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Next steps

Vault creation

Step-by-step guide to creating and initializing a vault

Configuration

Configure your vault with roles, fees, and parameters

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