Gauntlet LBTC Core
The LBTC Core Vault will list a range of liquid collateral markets and continuously optimize risk-adjusted yield across those markets. This vault targets a higher risk level than Gauntlet's Prime Vaults.
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.
A market (cbBTC / LBTC) is reporting supply APY at or above 50% — peak 30532% on cbBTC / LBTC. This is almost always a degenerate IRM state (100% utilization, dust-sized supply, or a stale post-liquidation snapshot) rather than real lending demand. The vault's headline APY is being averaged up by these positions; treat it as transient. 0.0% of TVL sits in the affected market.
Weighted LLTV across markets is 94.5%. Sharp collateral drawdowns can trigger cascading liquidations faster than vault parameters can be adjusted.