Trading Strategy

Listen to our Trading Strategy Podcast episode #8 with Frankencoin and learn how an oracle-free design and Swiss-style optimistic governance make a truly decentralized stablecoin possible. In this episode, Nertila from Trading Strategy discusses with Johannes Kern from Frankencoin. Frankencoin is a fully decentralized Swiss franc stablecoin (ZCHF) built as an oracle-free collateralized debt platform, governed through an optimistic model where any proposal can go live unless vetoed by just 2% of time-weighted voting power. 👉 View Frankencoin vault data on Trading Strategy https://tradingstrategy.ai/vaults/protocols/frankencoin 👉 Listen to the podcast on Spotify https://open.spotify.com/episode/0twXLQMHXondJVjpXtSkXa?si=dr_vovQLTVK21oaMru7fiw 👉 Listen to the podcast on YouTube https://youtu.be/iVn_po_1-sY?si=SyO7q0wWRck4T22G

Listen to our Trading Strategy Podcast episode #5 with AlphaGrowth and learn how money market curation actually works — how a curator picks collateral, sets risk parameters, and uses data rather than intuition to decide when a yield is worth the liquidation risk behind it. In this episode, Nertila from Trading Strategy discusses with Kyril from AlphaGrowth. AlphaGrowth is a DeFi growth and execution firm supporting ecosystems, DAOs, investors, and protocols, combining partners, systems, and institutional-grade execution as a gateway to DeFi alpha. 👉 View AlphaGrowth curated vaults on Trading Strategy https://tradingstrategy.ai/vaults/curators/alphagrowth 👉 Listen to the podcast on Spotify https://spotifycreators-web.app.link/e/DtrN1UbIO4b 👉 Listen to the podcast on YouTube https://youtu.be/cO079FjKpIQ

Listen to our Trading Strategy Podcast episode #4 with EthStrategy and learn how their protocol turns ETH's volatility into yield for bondholders, the risks involved, and emerging trends in crypto capital allocation like vault curation. In this episode, Nertila from Trading Strategy discusses with Clouted from EthStrategy. ETH Strategy is a DeFi treasury protocol that offers leveraged ETH exposure without risk of liquidation or volatility decay. It operates as Ethereum's first autonomous treasury protocol, designed to reimagine MicroStrategy's approach in a DeFi-native context. 👉 View ETH Strategy vault data on Trading Strategy https://tradingstrategy.ai/trading-view/vaults/protocols/eth-strategy 👉 Listen to the podcast on Spotify https://spotifycreators-web.app.link/e/0Ox9dWbIO4b 👉 Listen to the podcast on YouTube https://youtu.be/xV-ZIpecluU

Robinhood chain is live. We are currently tracking 4 vaults and $120M stablecoin vault TVL on Robinhood The chain was launched last week and came with a lot of positive animal spirits to the dried-up crypto industry. Currently, the TVL-weighted yield is 1.6% / year - quite low compared to other chains. View chain: https://tradingstrategy.ai/trading-view/vaults/chains/robinhood Currently live on the chain 1️⃣ Morpho 👉 https://x.com/MorphoLabs 2️⃣ Steakhouse 👉 https://tradingstrategy.ai/trading-view/vaults/curators/steakhouse-financial 3️⃣Spark 👉 https://tradingstrategy.ai/trading-view/vaults/curators/spark 4️⃣ All vaults are denominated in Global Dollar USDG stablecoin by Paxos 👉https://tradingstrategy.ai/trading-view/vaults/stablecoins/usdg Thanks for our partners at Envio for delivering the data. * We track historically realised returns only, not points or such

Listen to our Trading Strategy Podcast episode #3 with Taler Finance and learn how the most forward-thinking asset managers are leveraging neutral, permissioned vault infrastructure to build compliant and automated strategies. In this episode, Nertila from Trading Strategy discusses with Joel from Taler Finance. Taler is vault infrastructure for curated on-chain yield — it provides the smart contract framework that teams use to deploy, operate, and integrate non-custodial, curator-managed vaults. 👉 View Taler Finance curated vaults on Trading Strategy https://tradingstrategy.ai/trading-view/vaults/tau-lending-optimizer 👉 Listen to the podcast on Spotify https://open.spotify.com/episode/6c3n0qqzJfDOmcLTSpfHVS?si=GSz_bLddS8ihqrCkxGEIfw&ref=trading-strategy.ghost.io 👉 Listen to the podcast on YouTube https://www.youtube.com/watch?v=WugqA0_GLDE&list=PLdUZql_QHnoVapoYG4LDfQwrF0AZ7xFjX&index=1&ref=trading-strategy.ghost.io

MU DIGITAL AFTERMATH - ANOTHER RWA PRODUCT BITES THE DUST ⭐️ WHAT IS MU DIGITAL? Mu Digital is a Web3 platform that brings tokenised yields from Asian real-world credit assets, like sovereign/corporate bonds and private credit, on-chain for stablecoin holders. It was founded by ex-investment bankers (ex-BofA Merrill Lynch, UBS) with deep Asia credit experience, backed by investors including UOB Venture Management, CMS Holdings, Signum Capital, and others. ⭐️ ACCOUNTABLE DASHBOARD AND WIND DOWN On June 30, Curvance, a lending protocol, deprecated Mu Digital-related markets that used the Accountable dashboard and the Redstone oracle. They moved to "reduce-only" mode. Accountable and Redstone offer services to prove that offchain financial assets are real. On July 10, 2026, Mu Digital announced it had commenced an orderly wind-down of its products, including AZND, loAZND, and muBOND. This followed a surge in redemption requests amid heightened market uncertainty and commentary. Accountable’s dashboard and related oracles were deprecated, removing a key pillar of transparency that Mu Digital had heavily promoted. This eroded confidence for integrators and users. This is the third Accountable-related vault that will wind down in a few months, following MainStreet Finance (suspected to be a scam) and Altura Vault (Accountable did not provide true transparency; wind-down in progress). ⭐️ MU DIGITAL AND MORPHO Morpho is a lending protocol. Mu Digital uses (or powers) specific Morpho vaults, allowing users to earn yields on Mu Digital’s tokenised real-world Asian credit assets (bonds, private credit, trade finance) by simply depositing stablecoins like USDC. Main examples of the connection, promoted directly by Mu Digita: 👉 Alpha USDC Asia V2 vault on Morpho — Curated by AlphaPing. This is a USDC lending vault that deploys capital into Asia-linked RWA credit strategies backed or enabled by Mu Digital. It has been highlighted for steady growth, reaching $7M in deposits at one point, and for offering sustainable looping yields. 👉muBOND yields on Morpho — Mu Digital has stated that muBOND yields are available via a Morpho vault curated by the same partner. This packages Mu Digital’s credit yields into an accessible Morpho position. ⭐️ WHAT MAKES MU DIGITAL ON MORPHO FISHY Just before the wind-down, someone deposited a large amount of the project’s token (AZND) as collateral and immediately borrowed real liquidity (USDC), a well-known tactic in some DeFi incidents. This happened right as Mu Digital was facing Accountable verification issues, depegs/pressure on related assets (AZND, msY, etc.), and eventually announced a full product wind-down. The borrower drained liquidity just before or during the unwind phase. What happened: → Heavy borrowing against AZND on Morpho drained liquidity. → Supply APYs were capped at 0%. → Withdrawals became difficult or impossible for many. → Significant bad debt accrued for lenders. → Community anger and accusations increased, especially as Mu Digital moved toward full wind-down ⭐️ WHAT’S NEXT It’s not known to the public who controlled the $9.6M AZND deposit/borrow address that drained liquidity just before the announcement of the wind-down. The situation is evolving. ⭐️ RELATED ENTITIES Trading Strategy website collects data in the DeFi ecosystem for capital allocators. Here are the pages for the entities mentioned in this post: Morpho: https://tradingstrategy.ai/trading-view/vaults/protocols/morpho Accountable: https://tradingstrategy.ai/trading-view/vaults/protocols/accountable Alpha Ping: https://tradingstrategy.ai/trading-view/vaults/curators/alphaping

INTERNATIONAL STABLECOIN VAULTS We are now ranking non-USD stablecoin vaults. The decentralised finance outside USD is limited: the dollar is the king, and global investors have little appetite for other currencies. Currently, we have mapped out ~30 vaults with a total of $10M USD in deposits. Currencies include EUR, GBP, JPY, SGD, TRY, CHF. The largest one is SteakhouseFi tGBP from Tokenised GBP, with ~$5M in deposits, yielding 0.4% annualised last month. The highest returns seem to be for the Swiss Franc. But this is just a start, and there are the initial vaults we managed to discover. There must be more. Please contact us to let us know if we missed anyone in our listings. Thank you! 🙏 https://tradingstrategy.ai/trading-view/vaults/international

J.P. Morgan enters the vault curating business. JPMorgan Chase is the largest/most valuable bank in the world by market cap. Right out of the wall, JLTXX vault (denominated in USDC) is $700M, making J.P. Morgan the fifth-largest curator, bypassing Telos and Upshift. Vaulted strategy invests in U.S. Treasury bills, bonds and overnight repurchase agreements. J.P. Morgan runs its vaults on its proprietary protocol from its Kinexys blockchain division (formerly known as Onyx). The vault runs on Ethereum and is denominated in USDC. Before, Kinexys was developing permissioned blockchains. J. P. Morgan's CEO, Jamie Dimon, is also known as a major antagonist of stablecoins, DeFi, crypto, and blockchain, and has not missed a chance to bash them. How the tables have turned. J.P. Morgan's vaults: https://tradingstrategy.ai/trading-view/vaults/curators/jpmorgan - check for our technical details on the vault, strategy tearsheet and smart contract information. Curator ranking: https://tradingstrategy.ai/trading-view/vaults/curators

Proof of Voice POVcast starts today at 4 PM CET. We’re going live in X Spaces with Core3 to talk vaults, risk assessed yield and issuers, and why low APY doesn’t mean low risk. Turn on notifications and join us on Proof of Voice. https://x.com/i/broadcasts/1mxPaaebpOdKN

Listen to our Trading Strategy Podcast episode #2 with Ember Protocol and learn how the biggest markets are efficiently priced, and the real alpha in DeFi hides in the dark corners — obscure chains, assets, and strategies that most allocators never look at. In this episode, Nertila from Trading Strategy discusses with Joe from Ember Protocol. Ember is the investment platform and infrastructure for launching, accessing, and distributing traditional and onchain financial products through crypto capital markets. 👉 View Ember vault data on Trading Strategy https://tradingstrategy.ai/trading-view/vaults/protocols/ember 👉 Listen to the podcast on Spotify https://open.spotify.com/episode/2ebvuVLEqzCAcFRzayH6qb?ref=trading-strategy.ghost.io 👉 Listen to the podcast on YouTube https://www.youtube.com/watch?v=UXKKQ67kP_0&list=PLdUZql_QHnoVapoYG4LDfQwrF0AZ7xFjX&index=3&ref=trading-strategy.ghost.io

👉 The most dangerous DeFi vault is not always the one with the highest APY. It can be the vault where you are taking risk without getting paid for it. That is the risk-management problem Vault of Vaults strategies are built to solve. Instead of asking “which vault has the highest yield?”, a serious allocator should ask: • What is the issuer risk? • What is the technical risk? • What are the lock-up and liquidity constraints? • Are returns net of fees? • How much capital can the vault absorb? • How concentrated is the portfolio by protocol or chain? Trading Strategy makes this analysis easier to systematise. Our Pro vault datasets cover 25 blockchains, 80+ vault protocols and 3,700+ stablecoin vaults, with data fields including historical returns, net returns, Sharpe, volatility, max drawdown, TVL/NAV, fees, lock-ups, available liquidity, utilisation and technical risk. That matters because Vault of Vaults strategies can turn risk analysis into portfolio rules. How? A strategy can screen vaults, size positions, cap exposure per vault, protocol or chain, avoid excessive participation in smaller vaults, keep liquidity buffers and rebalance away from weaker opportunities when the data changes. This is where Trading Strategy is different from a dashboard-only product. The data is built for backtests, trading systems, portfolio construction and AI agents — not just for browsing APYs. The CORE3 collaboration adds another important signal: issuer risk. CORE3’s Probability of Loss (PoL) scores the project issuing a vault on a 0–100 scale, where lower is better. In its recent analysis of Trading Strategy’s vault universe, about $25.8B of stablecoin vault capital was eligible for scoring. One surprising finding: higher yield did not consistently mean higher issuer risk. In the assessed universe, some moderate-risk issuer clusters offered materially higher yields than much larger low-risk clusters — while several higher-risk areas offered little extra compensation. For allocators, that is the opportunity. Not “take more risk”. Find where risk is being mispriced, then control exposure with disciplined portfolio rules. PoL is not a vault-level guarantee, and no dataset removes DeFi risk. But combining Trading Strategy’s vault performance data with CORE3 issuer-risk context gives quants, funds and treasury teams a stronger foundation for risk-adjusted allocation. What should you do next? If you are building a Vault of Vaults strategy, yield rotation model or DeFi allocator product, start with the data: https://tradingstrategy.ai/pricing Explore the live vault market: https://tradingstrategy.ai/trading-view/vaults • - - No strategy can guarantee returns or eliminate smart contract, liquidity, market or operational risk • - -

Listen to our Trading Strategy Podcast episode #1 with TAU Labs and learn how the strongest vault teams are deliberately choosing smaller, faster-growing infrastructure platforms instead of competing on the already crowded ones dominated by the biggest players. In this episode, Nertila from Trading Strategy discusses with Vlad from TAU Labs. TAU Labs is an experienced risk manager, curating 10+ vaults across strategies, including loops, carry trades, and lending optimisers, with a peak TVL of USD 100M. 👉 Listen to the podcast on YouTube https://www.youtube.com/watch?v=cfuNrONPre0&feature=youtu.be 👉 View TAU Labs vault ranking on Trading Strategy https://tradingstrategy.ai/trading-view/vaults/curators/tau 👉 Listen to the podcast on Spotify https://open.spotify.com/episode/0WZYEc8rPyZOFLzq6uCEe9

Meet Trading Strategy at Vault Summit, Stable Summit and Agentic Finance Summit in New York Next Week The Trading Strategy team is heading to New York next week for a busy three days of DeFi, stablecoin and agentic finance conversations. Trading Strategy co-founder Teemu will be attending • Agentic Finance Summit on Wednesday, June 3rd, • Stable Summit IV: NYC on Thursday, June 4th, and • Vault Summit: New York City on Friday, June 5th. We are excited to connect with builders, asset managers, quants, allocators, AI-agent developers, stablecoin teams, vault curators, and representatives from decentralised exchanges (DEXs) and other DeFi protocols. Let’s meet in New York We invite DeFi users, asset managers, quants, traders, investors, and representatives from DEXs, vault protocols, stablecoin projects, AI-agent teams and other DeFi protocols to meet us for live demos and deeper discussions on potential collaborations. Vault Summit is especially relevant for anyone thinking about how capital will move into onchain vaults. The event focuses on institutional vault adoption, risk, liquidity and the practical infrastructure needed for vault-based asset management. Stable Summit brings together the stablecoin ecosystem: issuers, protocols, banks, payment companies, regulators and DeFi builders. Stablecoins are the settlement layer for many onchain strategies, and we are keen to discuss how better vault data and automated allocation can help stablecoin capital move more intelligently. Agentic Finance Summit focuses on how AI agents will move money. We believe agentic finance needs reliable market data, verifiable execution and transparent risk management. This is exactly where Trading Strategy’s infrastructure for DeFi strategy development and execution can help builders move from ideas to live systems. DeFi vault strategies and datasets Trading Strategy provides data covering 25,000+ DeFi vaults across 20+ blockchains. We now also offer DeFi vault datasets as a Pro subscription for fund managers, quants, AI-agent builders, aggregators, dashboards and protocol teams who need normalised, machine-readable, backtestable vault data. Additionally, we provide a free to use live dashboard for Top DeFi stablecoin vaults. If you are building vault-of-vaults strategies, researching stablecoin vault opportunities, developing automated trading strategies, or looking for better data to power DeFi allocation products, let’s discuss how we can collaborate. Whether you're keen on deploying Python-based quant strategies, exploring transparent self-custodial algorithmic trading, or enhancing your vault data stack, we’d be delighted to meet in New York. If you are interested in speaking with us, please drop us an email, or reach out on X.com or Discord. See you in New York! Here's the blog post: https://tradingstrategy.ai/blog/meet-trading-strategy-at-vault-summit-in-new-york

⭐ Announcing Pro DeFi vault data availability ⭐ Billions of dollars sit inside hashtag#DeFi hashtag#vaults across multiple blockchains. Until now, anyone trying to compare those vaults side by side had to scrape protocol pages, normalise inconsistent fee structures, and rebuild risk metrics from raw events. Investment decisions in this market deserve better inputs than that. The vault market is one of the fastest-growing segments of DeFi, and the gap between informed and uninformed capital allocators is widening every week. That is why we built the Trading Strategy DeFi vault datasets, now available with a Pro subscription tier. 👉 The FREE tier: web dashboard remains free and covers thousands of vaults with daily updates, equity curves, and portfolio metrics. 👉 The PRO tier at $199 per month opens up the full machinery underneath: historical data, raw data files, the Python backtesting framework, BTC and ETH-denominated vaults on request, and support. The Pro feed currently covers 25 blockchains, 80 vault protocols, and nearly 4,000 stablecoin vaults. The data is not limited to Ethereum and EVM chain lending vaults; it also includes perpetual futures trading vaults such as Hyperliquid, Grvt, Hibachi, and Lighter. For example, every stablecoin vault record is normalised so that a Morpho vault on Base can be measured against a Lagoon vault on Arbitrum without manual cleanup. We track several metrics like - Ranking - Historical returns - TVL - Sharpe - Technical and volatility risk - and many others... Who benefits most from subscribing? 👉 Quant developers and strategy builders finally get a backtestable, vault-aware universe in Python. The included Trading Strategy backtesting framework lets them prototype yield rotation, vault-of-vaults, and stablecoin strategies against years of clean history rather than weeks of patchy scrape jobs. 👉 DeFi-native funds and treasuries running allocator playbooks need defensible numbers when justifying positions. Net returns, Sharpe ratios, and technical risk categories give them the language LPs and boards already understand from traditional markets, applied to DeFi for the first time. 👉 Builders of AI investment agents want structured, machine-readable inputs covering the entire vault landscape. The dataset turns 25,000 individual smart contracts into one queryable surface that an agent can reason over without burning tokens on web scraping. 👉 Aggregators, dashboards, and protocol teams can power their own products with a single feed instead of integrating with 80 protocols individually. Read more details in the blog post https://tradingstrategy.ai/blog/announcing-pro-defi-vault-data-availability

DOWN ONLY? Due to recent incidents with Resolv and LayerZero, we have added a new vault listing: loss-making vaults. For the last month, half a billy has been incurring losses in DeFi stablecoin vaults. Most of it sits in the Hyperliquid HLP vault. https://tradingstrategy.ai/trading-view/vaults/negative

We have added US Treasure Note benchmark lines to vault charts. This shows how much any particular DeFi vault performs relative to the so-called "risk-free" rate. Here is Ember Earn vault on Ethereum. For the more volatile native perp dex vaults, like those on Hyperliquid, we use BTC and ETH as benchmarks.

The Trading Strategy team is heading to Cannes for EthCC 2026 from March 29 to April 3, 2026, and we’re excited to connect with the brightest minds in crypto, DeFi, and algorithmic trading. EthCC is the largest annual European Ethereum event focused on technology…

The Trading Strategy team is heading to Cannes for EthCC 2026 from March 29 to April 3, 2026, and we’re excited to connect with the brightest minds in crypto, DeFi, and algorithmic trading. EthCC is the largest annual European Ethereum event focused on technology and community. It's four intense days of conferences, networking, and learning. Let's meet in Cannes We invite DeFi users, asset managers, quants, traders, investors, and representatives from decentralized exchanges (DEXs) and other DeFi protocols to meet us for exclusive live demos and deep discussions on potential collaborations. We are co-hosting Vault Ecosystem Brunch Similar to the previous EthCC, also this year we are co-hosting a side event Vault Ecosystem Brunch on Thursday, 2nd April. We do this in collaboration with DeFi Founders Club, 1delta and IPOR. ​Designed for meaningful conversations, this session brings together vault curators, vault infra providers, LPs, RWA issuers, and DeFi protocols shaping the future of yield and vault strategies. Please find the event details and registration here: https://luma.com/b9ieeqyb DeFi vault strategies - the new hot opportunity in DeFi Have you ever wondered how DeFi vault strategies work and how to set up automated strategies that could consistently deliver steady returns with controlled drawdowns? Trading Strategy provides you data for and access to 20,000+ DeFi vaults on 20+ blockchains. Let's discuss how we could collaborate and get your Vault of Vaults strategies running! Whether you're keen on deploying Python-based quant strategies, exploring robust and transparent self-custodial algorithmic trading solutions, or aiming to significantly enhance your crypto portfolios with vault strategies, we’d be delighted to meet and discuss these opportunities in detail. See you in Cannes!

A leaked private key minted $50M worth of unbacked Resov USD stablecoin. USR (Resolv USD) is used directly as the currency denomination in 9 stablecoin vaults, with a TVL of $100M. Curators are MEV Capital, Apostro, Upshift, AIDollar and Resolv itself. Much larger exposure is via lending markets and indirect exposure via Morpho, Euler, others. A lot of lending markets hardcoded USR with 1:1 peg to USD, causing a misprice, as people deposited now less worthy USR collateral and then took 1:1 debts in stablecoins with good collateral. https://x.com/TradingProtocol/status/2035672948720242723

THE STATE OF STABLECOIN VAULTS 👉 First time, TVL of stable vaults exceeds $30B 👉 85% of TVL earns better than the US bank national savings rate of 0.49% 👉 59% earns better than the US treasury note rate of 3.2% ("risk-free rate") https://tradingstrategy.ai/trading-view/vaults/cumulative-tvl-apy