Stablecoin issuers are now among the top 20 holders of US Treasury bills.
Stablecoin issuers are now among the top 20 holders of US Treasury bills.
Alpha Enhanced for Frax USD is a higher-conviction credit strategy for allocators seeking returns beyond baseline stablecoin lending. The vault deploys frxUSD across a curated set of strategy-driven on-chain credit and liquidity venues including structured borrowing markets incentive-aligned pools and yield mechanisms linked to frxUSDs role within the Frax Finance ecosystem and broader tokenized credit infrastructure.
Morpho V2 vault — wraps downstream Morpho markets and V1 vaults via adapters.
Some V2 adapters point at Morpho Blue markets directly; their underlying market detail isn't resolvable in the universe-level fetch, so this vault carries a V2 opacity surcharge in the risk model.