Gauntlet USDT Frontier
12% of this vault sits in higher-risk collateral, yet it earns 3.86% on USDT versus 3.85% for a plain USDT vault (+1 bps). You're not being paid for the extra risk.
The Gauntlet USDT Frontier Vault targets maximum yield by allocating to potentially higher volatility markets that may face liquidity risks in exchange for greater supplier returns.
The honest version. Every structural failure mode this vault is exposed to, ranked by severity. If you want to know whether to invest, start here.
Vault has meaningful collateral exposure to liquid restaking tokens. A discount to ETH (>2%) propagates directly through liquidation cascades.
Cap-weighted utilization is 90.9%, leaving little idle buffer. Large same-day redemptions may queue behind active loan repayments.