The most-traded asset in DeFi history isn't ETH, BTC, or USDC. It's a wrapper around one of them.
The most-traded asset in DeFi history isn't ETH, BTC, or USDC. It's a wrapper around one of them.
Live data sourced from Morpho Blue API.
Plain-English read on what kind of book this curator runs and how it's currently positioned. Synthesized from their tracked vault footprint — no off-chain reputation claims.
** Five-vault book on HyperEVM mixing stablecoin lending (60% USDC/USD₮0/USDHL) with native asset exposure (39% WHYPE). Lending vaults dominate at 52% of exposure; LST positions (27%) cluster in kHYPE/wstHYPE derivatives. Low complexity (36/100) with moderate risk (20/100) and 3.02% cap-weighted APY.
** WHYPE concentration acute: appears as top collateral across all five vaults and comprises 39% of assets, creating circular dependency where stablecoin borrowing is secured primarily by the native token. High-APY USD₮0 vaults (6.09–6.12%) rely on WHYPE + kHYPE + UBTC collateral stacks; USDC vault (3.84% APY) mirrors this pattern. Single-chain, single-collateral-type risk.