We're pleased to announce the release of our first-ever Transparency Report, which was designed to bring some peace of mind to our users so that they know where their funds are being deployed. The allocations presented below are subject to change depending on strategy performance, future yield projections, and the evolution of the customer deposit mix.
Stablecoins: DeFi market rates for stablecoins continue to be severely depressed (AAVE USDC = 0.38%; Compound = 0.47%). Most stablecoins will be deployed to brand name, high volume centralized exchanges for margin lending yield, with some assets deployed to Curve.fi, Yearn.Finance, and PoolTogether. The ratio of assets will vary with yield generation.
Other altcoins: All non-stablecoin assets will be deployed across a greater number of protocols. These include, but are not limited to:
Delegated staking - We are in the process of reviewing whether to run our own nodes on certain chains while we are delegating tokens for staking
Liquidity pools - We will deploy to LPs which we assess as low impermanent loss risk pairs
Centralized exchanges - Qualified tokens will be deployed for yield/staking
No leveraging or other CeFi yield platforms will be used
Allocation targets/limits (targets shown below are subject to revision and periodic change in future transparency reports):
Self custody: 5-15%
Centralized exchange: 25-50%
CeFi platforms: 0%
DeFi protocols: 40-65%
*The report is subject to market changes and the numbers shown are a rough estimation
**Target asset allocation is for reference only, subject to change per market conditions and business strategies