102% TVL growth in USD and 151% in ETH terms over the past 3 months at Fusion.
Two kinds of demand are showing up at once here: the need for custom yield strategies, and rails that regulated capital can use to access the onchain economy. Fusion vaults answer both.
On custom strategies: as curation gets crowded on the leading platforms, operators want something the crowd does not have. Fusion lets a curator tap Aave, Morpho, Spark and 40+ other protocols from one vault, and offer a product no single platform can.
Some of the recent interesting examples include:
•
@LiquityProtocol ETH Carry, which has become the #
1# WETH-paying product on the entire mainnet
• WBTC Dollar Carry by
@BTCDOfficial which has become the top paying Bitcoin vault in the industry
• cbETH looping strategy of
@628Labs which amassed over 19k cbETH units via automation, resulting in
@aave having to lift caps on the market to accommodate this demand. This particular strategy holds the largest cbETH position on the entire Base network, directly contributing to Coinbase Inc's earnings from rewards generated by the cbETH supply
In parallel, participation from regulated capital keeps growing through the dedicated client vault constructs built on Fusion. That route is led by
@tesseractcrypto, a MiCA-authorised CASP we partnered with earlier this year, now accessed by BitGo (Fortune 500), 21Shares (one of the world's leading crypto ETP issuers) and Bitstamp, among others.
Those constructs rest on a few key mechanisms. Role segregation, so execution rights and withdrawal rights sit apart. Access control enforced at the vault itself, so who can deposit is settled before anyone does. A mandate written into the configuration before capital enters, setting which venues can be touched and which actions are permitted.
Those constraints hold at the contract level and stay readable afterwards. Fusion vaults come with the mechanisms an entity needs to meet its own compliance requirements, and because every constraint is a parameter, a vault built for a European fund and one built for a US institution start from the same infrastructure and end up with different boundaries.
Alongside those controls, the numbers hold up. These dedicated client vault constructs have reached steady double digitson stablecoins and above 4% on Bitcoin, and every figure traces back to a live position anyone can read.
If you are running capital that needs this kind of structure, or building strategies that need somewhere to run, come talk with us.