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Felix USDT0 (Frontier)
BThe Felix USDT0 Frontier vault extends to newer or higher beta collateral markets with tighter risk limits, seeking incremental yield while actively monitoring liquidity, oracle, and concentration risk.
One thing worth a look
Patterns in this vault’s record that have more than one explanation. None of them lowers its grade and none of them is a finding of wrongdoing — a ledger cannot separate the readings below, and neither can we.
- 4 transactions both deposited and withdrew, moving 2.3× the vault's own size and 25× more than its balance actually changed.
- Equally consistent with: An aggregator routing liquidity through this vault, or a rebalance executed atomically. Both look exactly like this in a ledger.
Measured over the last 30 days, as of 2026-08-24 17:53Z. A pattern that stops is cleared rather than left standing.
Taking money
—
Supplied
$630.8k
$478.6k lent out · 76% utilised
Return
0.1%
over observed history
Recent
—
30d · 90d
Max drawdown
0.0%
peak to trough
Sortino
—
return per unit of downside risk
History
7d
60 observations
Confidence
2%
in these metrics
Value and drawdown
Range
Hover for values. Upper: vault value, with BTC indexed to the same starting capital. Lower: how far below its own peak it was.
No strategy has been declared for this vault
Everything above is reconstructed from public data. A declaration is free, signed from this vault’s own key, and cannot be edited afterwards.Note 28
Passport
Identity
Vault contract0x9896a860…6bb3
Network
HyperEVM
PlatformMorpho
OperatorFelix0x18e49614…f979
Deposit assetUSD₮0
Created on-chain2025-07-16
First observed by us2026-08-17
Statuslive
What is deciding
unregisteredStrategy versionNot attested — the operator has not bound this record to a specific version
Model providerNot attested — no model declared
ModelNot attested — no model declared
System prompt hashNot attested — no prompt commitment
Policy hashNot attested — no policy commitment
Inferred modeNot enough execution data
These fields are empty because nobody has attested them, not because we failed to find them. An operator who registers gets a record that provably cannot be edited after the fact — and a grade no unregistered strategy can reach.
How much to trust this
Provenance gradeBReal capital, readable at the venue — but the operator’s full cohort is unproven.
Machine-managedNot established
Metric confidence2%58 observations over 7 days
RankingNot ranked — insufficient history
Alignment and capacity
Operator’s own shareNot published by the venue
Commission—
Depositor wallets—
Concentration—
Estimated capacityNot enough execution data
Net flow 30d-$63.0k
Who is in it
as at 2026-08-24 23:54Largest wallet
26.3%
Top five
58.7%
Concentration
0.109
Wallets seen
25
venue caps its list — a floor
| # | Wallet | Deposited | Share | All-time P&L | In for |
|---|---|---|---|---|---|
| 1 | 0x91b8201a…8a78 | $150.8k | 26.3% | — | — |
| 2 | 0x19f2a6c6…1d89 | $62.1k | 10.8% | — | — |
| 3 | 0x27107dd8…374d | $58.3k | 10.2% | — | — |
| 4 | 0x77d780d4…b7ce | $33.2k | 5.8% | — | — |
| 5 | 0xb0026ca4…ed8a | $32.3k | 5.6% | — | — |
| 6 | 0x225bc02d…f8bf | $28.9k | 5.0% | — | — |
| 7 | 0xcd7f23e1…45e4 | $20.2k | 3.5% | — | — |
| 8 | 0x2a330f2f…c749 | $20.2k | 3.5% | — | — |
| 9 | 0x44054175…adec | $19.9k | 3.5% | — | — |
| 10 | 0xb4ce0c95…ee8c | $16.7k | 2.9% | — | — |
| 11 | 0x01cb9d59…5d3f | $13.0k | 2.3% | — | — |
| 12 | 0x03098d02…f80e | $12.2k | 2.1% | — | — |
| 13 | 0xfcb01354…e0b6 | $10.9k | 1.9% | — | — |
| 14 | 0x53daacdd…42e7 | $10.5k | 1.8% | — | — |
| 15 | 0x3e7d21de…cd33 | $10.4k | 1.8% | — | — |
| 16 | 0xda436db5…65ba | $10.3k | 1.8% | — | — |
| 17 | 0x746164ee…2721 | $9.5k | 1.6% | — | — |
| 18 | 0x55c94752…d0c6 | $9.3k | 1.6% | — | — |
| 19 | 0x65f7e3ea…41d3 | $9.1k | 1.6% | — | — |
| 20 | 0xd41eb0e2…5f79 | $7.9k | 1.4% | — | — |
| 21 | 0x83f1b5b3…fcf8 | $7.8k | 1.4% | — | — |
| 22 | 0xf3914141…391f | $5.2k | 0.9% | — | — |
| 23 | 0xbdc0eed2…32ae | $5.2k | 0.9% | — | — |
| 24 | 0xc840a5bf…eb2a | $5.0k | 0.9% | — | — |
| 25 | 0x07fce41d…e307 | $4.6k | 0.8% | — | — |
Shares are of the capital we can observe, not of reported TVL ($630.8k) — dividing by a total that includes wallets outside our sample would understate every share and make concentration look better than it is. The venue returns at most a hundred wallets, so the count is a floor and the largest shares are a ceiling.
Money in and out
Ledger read 1 minute agoIn
$1.4k
7 deposits
Out
$133.6k
53 withdrawals
Net
-$132.2k
21.0% of TVL
Window
9d
last 60 movements
| When | Type | Amount | Of vault | Transaction |
|---|---|---|---|---|
| 2026-08-24 09:17 | withdraw | $5.0k | 0.80% | 0xb795d49d…1fc8 |
| 2026-08-24 08:27 | withdraw | $12.99 | 0.00% | 0x7b519ac5…dc3f |
| 2026-08-24 07:00 | withdraw | $150.17 | 0.02% | 0x1dd82c5e…280d |
| 2026-08-24 05:57 | withdraw | $128.58 | 0.02% | 0x83e86fbf…7f60 |
| 2026-08-24 05:54 | withdraw | $65.00 | 0.01% | 0x059a5de9…2fd2 |
| 2026-08-24 02:54 | withdraw | $84.01 | 0.01% | 0x751c1830…ff2b |
| 2026-08-24 00:15 | withdraw | $6.3k | 1.00% | 0x4588bf8b…c247 |
| 2026-08-23 13:44 | withdraw | $37.2k | 5.89% | 0x880b6d8f…510c |
| 2026-08-23 05:10 | withdraw | $11.99 | 0.00% | 0xc29a6f5a…0af7 |
| 2026-08-22 09:31 | withdraw | $12.0k | 1.90% | 0x05176b34…b30f |
| 2026-08-22 04:20 | withdraw | $41.01 | 0.01% | 0x40670a10…2ba7 |
| 2026-08-22 03:37 | withdraw | $242.45 | 0.04% | 0x0dd4155e…fdf4 |
| 2026-08-22 03:12 | withdraw | $51.25 | 0.01% | 0x3357c331…cdb3 |
| 2026-08-21 12:27 | withdraw | $774.60 | 0.12% | 0xba5afa72…fdb1 |
| 2026-08-21 08:43 | withdraw | $12.64 | 0.00% | 0x11d64b47…76c3 |
| 2026-08-21 03:24 | withdraw | $50.01 | 0.01% | 0x25d7c3b2…8c55 |
| 2026-08-21 01:38 | withdraw | $122.89 | 0.02% | 0x50416b85…0aff |
| 2026-08-20 16:49 | withdraw | $100.01 | 0.02% | 0xe90ad4fe…736f |
| 2026-08-20 12:06 | withdraw | $8.2k | 1.30% | 0x02f884a7…689c |
| 2026-08-20 08:08 | withdraw | $308.43 | 0.05% | 0x94afb776…934c |
| 2026-08-20 07:35 | withdraw | $299.96 | 0.05% | 0x0088d841…8f8b |
| 2026-08-20 05:54 | withdraw | $111.21 | 0.02% | 0xdfa5e324…8992 |
| 2026-08-20 05:43 | deposit | $115.21 | 0.02% | 0xc2491b91…3549 |
| 2026-08-20 05:30 | withdraw | $109.77 | 0.02% | 0xa724bbe3…3ead |
| 2026-08-20 02:34 | deposit | $2.99 | 0.00% | 0x331057c5…46ed |
| 2026-08-20 02:21 | deposit | $101.24 | 0.02% | 0x8c118728…732a |
| 2026-08-20 01:50 | withdraw | $118.72 | 0.02% | 0x293adeea…40a5 |
| 2026-08-19 15:19 | withdraw | $10.5k | 1.67% | 0xa2e1aacc…122d |
| 2026-08-19 15:17 | withdraw | $10.0k | 1.59% | 0x2efc440c…a37b |
| 2026-08-19 07:53 | deposit | $114.24 | 0.02% | 0x1c9b0446…8b14 |
| 2026-08-19 06:56 | withdraw | $154.26 | 0.02% | 0x865025fa…0b80 |
| 2026-08-19 03:10 | withdraw | $105.94 | 0.02% | 0x90a9ddb0…f1bc |
| 2026-08-19 02:38 | withdraw | $103.02 | 0.02% | 0x6583f7c8…2238 |
| 2026-08-19 01:45 | withdraw | $105.28 | 0.02% | 0xa2f51126…1731 |
| 2026-08-19 01:27 | withdraw | $63.72 | 0.01% | 0xebb3be78…7869 |
| 2026-08-19 01:10 | deposit | $117.44 | 0.02% | 0x24e24907…12e6 |
| 2026-08-18 12:16 | withdraw | $66.99 | 0.01% | 0x7706c726…b40d |
| 2026-08-18 07:55 | withdraw | $109.04 | 0.02% | 0xc4132d7c…4653 |
| 2026-08-18 07:33 | withdraw | $112.92 | 0.02% | 0xbd8336f0…96de |
| 2026-08-18 06:43 | withdraw | $92.31 | 0.01% | 0xff5aa045…8bc3 |
| 2026-08-18 02:31 | withdraw | $125.02 | 0.02% | 0xc547ba6e…763b |
| 2026-08-18 01:36 | withdraw | $113.36 | 0.02% | 0x0ec04c12…2e61 |
| 2026-08-17 20:05 | withdraw | $14.5k | 2.30% | 0x70ea4839…1d5f |
| 2026-08-17 19:14 | withdraw | $1.2k | 0.19% | 0xa7c57eb1…3ce3 |
| 2026-08-17 13:45 | withdraw | $7.0k | 1.11% | 0x24ed61fb…d8bd |
| 2026-08-17 08:30 | withdraw | $2.0k | 0.32% | 0x0e4e972c…5aac |
| 2026-08-17 07:02 | withdraw | $120.02 | 0.02% | 0x5714936a…f6bc |
| 2026-08-17 05:45 | withdraw | $69.70 | 0.01% | 0x6a4e9a9f…07f5 |
| 2026-08-17 04:49 | withdraw | $10.0k | 1.59% | 0x9cc2dbfa…0cfa |
| 2026-08-17 04:47 | withdraw | $1.03 | 0.00% | 0x6adf42fa…f60e |
| 2026-08-17 01:15 | withdraw | $114.55 | 0.02% | 0xae10f570…13aa |
| 2026-08-17 00:57 | withdraw | $109.32 | 0.02% | 0xb56e017d…ef7f |
| 2026-08-17 00:36 | withdraw | $120.19 | 0.02% | 0xd1ea0823…d466 |
| 2026-08-16 08:07 | withdraw | $1.49 | 0.00% | 0xe8b04982…c452 |
| 2026-08-15 19:12 | withdraw | $36.44 | 0.01% | 0x8fdfd01a…2865 |
| 2026-08-15 14:08 | deposit | $774.03 | 0.12% | 0xd6751263…2192 |
| 2026-08-15 13:52 | withdraw | $85.18 | 0.01% | 0xc2a639da…08d4 |
| 2026-08-15 08:05 | withdraw | $1.54 | 0.00% | 0x128f5b59…ae46 |
| 2026-08-15 05:15 | withdraw | $5.0k | 0.79% | 0xe248e3f0…ff62 |
| 2026-08-15 03:18 | deposit | $177.97 | 0.03% | 0xda76f7c9…7260 |
Shares are against the vault’s current size, so an old movement is measured against today rather than against what the vault was then. It is the comparison a reader wants — how much of this vault that was — and it is not the same as the share it represented at the time.
What is still missing
- Operator cohort. We show what the venue still exposes; strategies deleted before we began observing are invisible, and only pre-registration can make a cohort provably complete.
- Gross-to-net waterfall. Returns are venue-reported and not yet decomposed into fees, funding and slippage.
- Off-chain exposure. Anything held on a centralised exchange is invisible to us, so the risk shown is a floor.