Jack(@JackMandin):Interesting to see how different vault infrastructure attracts different asset classes. Morpho is the largest vault infrastructure provider in aggregate, holding ~65% of all tracked vault deposits. For stablecoins specifically, 82% of USDC and 84% of USDT deposits sit in Morpho vaults. If we instead look at non-stablecoins, Veda has carved out a spot currently as the top choice for wrapped L1 assets. 42% of WETH and 73% of WBTC sit in Veda vaults. This result tracks with Veda's ability to access a wider yield opportunity set. WETH and WBTC generally don't earn high yields through lending alone, so vaults that can allocate beyond lending markets have an edge with these assets.

2026.07.24 19:38

Interesting to see how different vault infrastructure attracts different asset classes. Morpho is the largest vault infrastructure provider in aggregate, holding ~65% of all tracked vault deposits. For stablecoins specifically, 82% of USDC and 84% of USDT deposits sit in Morpho vaults. If we instead look at non-stablecoins, Veda has carved out a spot currently as the top choice for wrapped L1 assets. 42% of WETH and 73% of WBTC sit in Veda vaults. This result tracks with Veda's ability to access a wider yield opportunity set. WETH and WBTC generally don't earn high yields through lending alone, so vaults that can allocate beyond lending markets have an edge with these assets.