Binance is a clear outlier, it has contained damage so brilliantly that we as an industry hardly even noticed ripple effects. It will be worse next time a more fragile product is hacked. So if you are a high yield leveraged USD guy, how to decrease sensitivity to liquidity squeezes? Diversify your trades! - do delta-neutral basis trade - low correlation with defi rate spikes - Allocate to high yield, non-leveraged RWA positions. They are not exposed to borrow rate spikes - borrow at fixed rates (ah, right there are no fixed rate markets for USD assets)

so here is the story of CARRY When we went to the drawing board on the high yield product, the ask from the investors was to combine: - pls be liquid, no material lockups - pls no cash drag from redemption settlement cycle - pls high yield and low fees - pls no stupid sh*t in the vault. we wanna rely on your DD and monitoring - building yet another leverage loop aggregator? wtf pls no. do something funky, delta neutral is cool - pls can we borrow against it when needed (actually wait, we just wanna outright loop it) How about all of that in one product? Our tremendous team at Vault Street did a f**king great job shipping it with CARRY. Super proud to work with these legends. And the partner teams whose products we chose to integrate? Absolutely killing it. When you see Superstate, Midas, Hastra, Centrifuge in our vaults' allocations, it's not random. Man, it's because these are great products! Together, we help people make money, and make it without the stupid sh*t.

Love to share this research piece with broader community. Well done @MidasRWA and @Wellington_Mgmt on structuring this one! mWIN fills a genuine gap in the tokenized fund market, which up to now has clustered at two extremes: - ultra-low-risk MMFs on one end, - high-yield specialty asset-backed facilities on the other A balanced, investment-grade portfolio offering a meaningful, diversified yield pickup is a distinct proposition in the current RWA landscape. Access to high-capacity leverage via @SentoraHQ vault on Morpho allows investors to amplify returns to 12-14% expectations. Vault Street has now enabled allocations into mWIN through primeUSD and our upcoming high yield product. If you look to get a piece of exposure to instruments like this, invest with Vault Street.