⌘K

Live evidencecounted 3m ago

0.48days of MEME volume to unwind the crowd99%of the XMR book on one side, across 28 vaults$1.30Bunder one key with no guardian, 52 of the 424 vaults whose control we have read$334.1Mwhose control we have never read, across 3,229 vaults$1.95Bsitting in vaults and not lent out$11.27Bunder 3,653 vaults we read$4.79Bin 323 vaults where we saw automated execution, nothing declared2,080vaults declared or on a venue built to run software, holding $1.01M324software-run vaults scored, 13% of them450operators identified behind them26networks where we read capital, from Ethereum to Cardano31,298,687deposits and withdrawals read from chain5changes recorded in the last day588,846ERC-8004 agent registrations read−0.61/ 30 days360,982distinct owners behind those registrations199,780registrations carrying a readable card, 34%3,330,722paid requests on the Olas rail (deliveries are counted apart)−0.69/ 30 days87suppliers delivering that work411,027agent-to-agent jobs read on Base+0.04/ 30 days$1.0Msettled between agents, all time1,175suppliers listed on the ACP rail189agents live on Cardano76Cardano agents deregistered, 29% of all ever minted29,141escrows between Cardano agents since Jun 2025, 142 still open78%of every agent payment we read comes from 2,571 addresses that never stop307,376addresses paid once and never came back, of 494,774 that ever paid934of those payers are an agent we can name, 0.189% of them635agent hosts answered when we asked, of 2,532 probed17,125agents sit behind a host that answers nothing at all404msmedian answer from the 635 hosts that answer44%of all agent ratings were written by ten addresses, of 671,178 ratings read29,502rated agents have exactly one rater, of 47,110 rated at all86,979service endpoints declared across 33,840 agent cards we read0.48days of MEME volume to unwind the crowd99%of the XMR book on one side, across 28 vaults$1.30Bunder one key with no guardian, 52 of the 424 vaults whose control we have read$334.1Mwhose control we have never read, across 3,229 vaults$1.95Bsitting in vaults and not lent out$11.27Bunder 3,653 vaults we read$4.79Bin 323 vaults where we saw automated execution, nothing declared2,080vaults declared or on a venue built to run software, holding $1.01M324software-run vaults scored, 13% of them450operators identified behind them26networks where we read capital, from Ethereum to Cardano31,298,687deposits and withdrawals read from chain5changes recorded in the last day588,846ERC-8004 agent registrations read−0.61/ 30 days360,982distinct owners behind those registrations199,780registrations carrying a readable card, 34%3,330,722paid requests on the Olas rail (deliveries are counted apart)−0.69/ 30 days87suppliers delivering that work411,027agent-to-agent jobs read on Base+0.04/ 30 days$1.0Msettled between agents, all time1,175suppliers listed on the ACP rail189agents live on Cardano76Cardano agents deregistered, 29% of all ever minted29,141escrows between Cardano agents since Jun 2025, 142 still open78%of every agent payment we read comes from 2,571 addresses that never stop307,376addresses paid once and never came back, of 494,774 that ever paid934of those payers are an agent we can name, 0.189% of them635agent hosts answered when we asked, of 2,532 probed17,125agents sit behind a host that answers nothing at all404msmedian answer from the 635 hosts that answer44%of all agent ratings were written by ten addresses, of 671,178 ratings read29,502rated agents have exactly one rater, of 47,110 rated at all86,979service endpoints declared across 33,840 agent cards we read

Vaults

The largest 400 by capital, of 3,653 open across every venue we read, agent-managed or not. The rest are on a plan, or in the API.Note 17

Concentration

How much of it sits in the largest vaults

Concrete · CTDELTAWEETH: $763.98M6.8%
Steakhouse USDG: $537.09M4.8%
Adpend USDC: $493.79M4.4%
Steakhouse High Yield USDC Edition: $461.93M4.1%
Sentora RLUSD Main: $458.08M4.1%
Gauntlet USDC Prime: $414.41M3.7%
2605 smaller vaults: $8.14B72%

A share of vaults_valued, open vaults we can put a size on, less the few we read as holding nothing, which have no share of capital to take. That is fewer than the open count in the header, and the difference is vaults whose underlying we cannot price rather than vaults that are not there.

How this figure was arrived at

Metric: capital-by-vault
Population: vaults_valuedOpen vaults we can put a size on, which is the denominator behind every capital total here. A vault whose underlying we cannot price is published unvalued rather than estimated; one we read as holding nothing is valued at zero, which is a reading rather than a gap.
Denominator: 11,266,460,955.189 USD · 100.0% of it
Source: Computed here from figures this platform already holds.
Grade: B
Read at: 2026-10-09 23:41 UTC
Methodology: aspern-0.3
Snapshot: cmv1m0px5000kleyffpfv926b

Concentration, deeper

The largest 25, and everything after them

Concrete · CTDELTAWEETH: $763.98M6.8%
Steakhouse USDG: $537.09M4.8%
Adpend USDC: $493.79M4.4%
Steakhouse High Yield USDC Edition: $461.93M4.1%
Sentora RLUSD Main: $458.08M4.1%
Gauntlet USDC Prime: $414.41M3.7%
Paypal USD Main: $408.94M3.6%
Spark USDC Vault: $388.52M3.4%
Gauntlet x Lista BNB Vault: $361.71M3.2%
ether.fi Liquid · LIQUIDETH: $339.81M3.0%
1337 USDC: $263.24M2.3%
Sentora x Spark RLUSD: $250.01M2.2%
Steakhouse Prime USDC: $217.53M1.9%
Grove x Steakhouse USDC: $216.08M1.9%
Sentora PRIME Main: $216.03M1.9%
Gauntlet USDC Prime: $177.37M1.6%
Steakhouse Prime EURCV: $149.78M1.3%
Gauntlet x Lista USD1 Vault: $138.22M1.2%
Gauntlet USDC Prime: $125.12M1.1%
Steakhouse USDC: $121.57M1.1%
Steakhouse Prime USDC: $115.22M1.0%
Concrete · ctwstETH+: $112.91M1.0%
Concrete · CTWLFICX-PRIME: $103.48M0.9%
Grove x Steakhouse USDC High Yield: $103.41M0.9%
Avant avUSD · SAVUSD: $101.46M0.9%
2586 smaller vaults: $4.23B38%

The same money as the ring above, cut at twenty-five instead of six. Shaded by rank, light to dark, because these are sizes rather than identities.

How this figure was arrived at

Metric: capital-by-vault-deep
Population: vaults_valuedOpen vaults we can put a size on, which is the denominator behind every capital total here. A vault whose underlying we cannot price is published unvalued rather than estimated; one we read as holding nothing is valued at zero, which is a reading rather than a gap.
Denominator: 11,266,460,955.189 USD · 100.0% of it
Source: Computed here from figures this platform already holds.
Grade: B
Read at: 2026-10-09 23:41 UTC
Methodology: aspern-0.3
Snapshot: cmv1m0px5000kleyffpfv926b

What the levered books look like right now

162 of 381 carry a liquidation price we can read

Closest to liquidation

0.8%

一三七, $657.5k of notional

Highest leverage

40.0×

BTC Forever

Within 10% of liquidation

4 within 5%

These sit far down a list ordered by capital, because the levered books are the small ones. Sort the To liq. column to bring them to the top, or read them ranked on distance to liquidation. A vault showing a dash is unmeasured, not safe: the venue reported no liquidation price on any position we can see.

Size

Any Over $10M 137 $1M–10M 263 Under $1M 0

Who can move the money

Any One party, acting alone 83 A multisig, more than one signature 185 A timelock 24 Another contract 40 Control not read 68

History we have observed

Any 90 days or more 28 30–90 days 176 Under 30 days 196

Record

Any Independently checkable 240 Reported to us 160

Run by

Any Software 135 trading a book 17 allocating deposits 118

Why we call it software

Any seen or declared 135 name only 0

Observations

Any Something worth a look 56

400 of 400 shownCounts are of all 400 vaults, not of the current selection.

Machine-managed only135 of 400 identified as machine-managed

Download CSV, part of Analyst

#																Earning from
1	Concrete · CTDELTAWEETH2393da89-4…3a20	Concrete	Ethereum	CTDELTAWEETH	Concrete	unknown	no model declared	—	$763.98M	0.0%never at scale	0.0%	—	0.0%	—	—	—	51d	fixed 1:1	consistent97	Alone	1	—	$0.00	14%	C
2	Steakhouse USDG0xBeEff033…09dd	Morpho Vaults V2	Robinhood Chain	USDG	Steakhouse Financial0x827e8607…eCdB	likely	no model declared	—	$537.09M	0.1%over 8d onlynever at scale	0.0%	—	—	—	—	—	8d	3.74%of3.66%from 0.30% in 30d	consistent100	Contract	—	—	$75.46M	2%	B
3	Adpend USDC0x55555815…5555	Morpho	Ethereum	USDC	—	unknown	no model declared	—	$493.79M	206.9%never at scale	0.0%	—	11%	—	—	—	51d	implausible92.22% in 30d	consistent97	Alone	—	—	$0.00	14%	B
4	Steakhouse High Yield USDC Edition0xbeeff249…8845	Morpho Vaults V2	Base	USDC	Steakhouse Financial0x827e8607…eCdB	likely	no model declared	—	$461.93M	0.1%over 8d onlynever at scale	0.0%	—	—	—	—	—	8d	2.88%of2.94%from 0.23% in 30d	consistent100	Contract	—	—	$60.85M	2%	B
5	Sentora RLUSD Main0x6dC58a0F…E6bf	Morpho Vaults V2	Ethereum	RLUSD	Sentora	likely	no model declared	—	$458.08M	0.1%over 8d onlynever at scale	0.0%	—	—	—	—	—	8d	2.84%of3.23%from 0.23% in 30d	consistent100	Alone	—	—	$70.71M	2%	B
6	Gauntlet USDC Prime base · e44b610xeE8F4eC5…4b61	Morpho	Base	USDC	Gauntlet0x9E33faAE…0585	likely	no model declared	—	$414.41M	0.6%never at scale	0.0%	—	0.1%	—	—	—	51d	4.28%of4.44%from 0.35% in 30d	consistent97	Multisig	—	—	-$8.08M	14%	B
7	Paypal USD Main0xb576765f…9FB2	Morpho Vaults V2	Ethereum	PYUSD	Sentora	likely	no model declared	—	$408.94M	0.1%over 8d onlynever at scale	0.0%	—	—	—	—	—	8d	2.90%of2.51%from 0.24% in 30d	consistent100	Alone	—	—	$17.48M	2%	B
8	Spark USDC Vault0x7BfA7C4f…F34A	Morpho	Base	USDC	SparkDAO0x0f963A8A…46A3	unknown	no model declared	—	$388.52M	0.5%never at scale	0.0%	—	0.1%	—	—	—	51d	3.85%of3.96%from 0.32% in 30d	consistent97	Contract	—	—	$96.83M	14%	B
9	Gauntlet x Lista BNB Vault0x57134a64…e2d0	Lista Lending	BSC	WBNB	Gauntlet	unknown	no model declared	—	$361.71M	<0.1%never at scale	0.0%	—	<0.1%	—	—	—	51d	quotes ~00.00% in 30d	consistent97	Timelock	255	—	-$502.39	14%	B
10	ether.fi Liquid · LIQUIDETHb86d4934-2…2491	ether.fi Liquid	Ethereum	LIQUIDETH	ether.fi Liquid	unknown	no model declared	—	$339.81M	1.4%never at scale	0.0%	—	0.1%	—	—	—	156d	3.26%of3.38%from 0.26% in 30d	consistent100	Timelock	—	—	-$3.51M	43%	C
11	1337 USDC0x94643e86…96c1	Morpho	Ethereum	USDC	—	unknown	no model declared	—	$263.24M	207.6%never at scale	0.0%	—	11%	—	—	—	51d	implausible92.39% in 30d	consistent97	Alone	—	—	-under $0.01	14%	B
12	Sentora x Spark RLUSD0xFC8C624B…6E22	Morpho Vaults V2	Ethereum	RLUSD	Sentora	unknown	no model declared	—	$250.01M	<0.1%over 8d onlynever at scale	0.0%	—	—	—	—	—	8d	quotes ~00.00% in 30d	consistent100	Contract	—	—	$249.99M	2%	B
13	Steakhouse Prime USDC base · 6873C90xbeef0e08…73C9	Morpho Vaults V2	Base	USDC	Steakhouse Financial0x827e8607…eCdB	likely	no model declared	—	$217.53M	0.1%over 8d onlynever at scale	0.0%	—	—	—	—	—	8d	4.28%of4.40%from 0.35% in 30d	consistent100	Contract	—	—	-$138.01M	2%	B
14	Grove x Steakhouse USDC base0xbeef0786…e7c7	Morpho Vaults V2	Base	USDC	Steakhouse Financial0x827e8607…eCdB	unknown	no model declared	—	$216.08M	0.1%over 8d onlynever at scale	0.0%	—	—	—	—	—	8d	4.23%of4.40%from 0.35% in 30d	consistent100	Contract	—	—	$176.00M	2%	B
15	Sentora PRIME Main0xC21b08C1…8BbD	Morpho Vaults V2	Ethereum	PYUSD	Sentora	likely	no model declared	—	$216.03M	0.1%over 8d onlynever at scale	0.0%	—	—	—	—	—	8d	3.65%of3.66%from 0.30% in 30d	consistent100	Alone	—	—	$16.78M	2%	B
16	Gauntlet USDC Prime base · AD56f00x050cE30b…56f0	Morpho Vaults V2	Base	USDC	Gauntlet0x9E33faAE…0585	likely	no model declared	—	$177.37M	0.1%over 8d onlynever at scale	0.0%	—	—	—	—	—	8d	4.28%of4.40%from 0.35% in 30d	consistent100	Multisig	—	—	$6.53M	2%	B
17	Steakhouse Prime EURCV0xbeef0C07…DB2f	Morpho Vaults V2	Ethereum	EURCV	Steakhouse Financial0x827e8607…eCdB	likely	no model declared	—	$149.78M	0.1%over 8d onlynever at scale	0.0%	—	—	—	—	—	8d	2.96%of3.00%from 0.24% in 30d	consistent100	Contract	—	—	$12.22M	2%	B
18	Gauntlet x Lista USD1 Vault0xfa27f172…e627	Lista Lending	BSC	USD1	Gauntlet	unknown	no model declared	—	$138.22M	0.2%never at scale	0.0%	—	<0.1%	—	—	—	51d	1.22%of1.23%from 0.10% in 30d	consistent97	Timelock	17,944	—	-$3.3k	14%	B
19	Gauntlet USDC Prime ethereum · afA3D00x8c106EED…A3D0	Morpho Vaults V2	Ethereum	USDC	Gauntlet0x9E33faAE…0585	likely	no model declared	—	$125.12M	0.1%over 8d onlynever at scale	0.0%	—	—	—	—	—	8d	4.36%of4.24%from 0.36% in 30d	consistent100	Multisig	—	—	$19.36M	2%	B
20	Steakhouse USDC base0xbeeF010f…8183	Morpho	Base	USDC	Steakhouse Financial0x827e8607…eCdB	likely	no model declared	—	$121.57M	0.4%never at scale	0.0%	—	<0.1%	—	—	—	51d	3.21%of3.29%from 0.26% in 30d	consistent97	Multisig	—	—	-$11.88M	14%	B
21	Steakhouse Prime USDC ethereum0xbeef0880…0f51	Morpho Vaults V2	Ethereum	USDC	Steakhouse Financial0x827e8607…eCdB	likely	no model declared	—	$115.22M	0.1%over 8d onlynever at scale	0.0%	—	—	—	—	—	8d	4.35%of4.27%from 0.35% in 30d	consistent100	Contract	—	—	$9.41M	2%	B
22	Concrete · ctwstETH+e3b2b35d-0…d00c	Concrete	Ethereum	ctwstETH+	Concrete	unknown	no model declared	—	$112.91M	0.0%never at scale	0.0%	—	0.0%	—	—	—	51d	fixed 1:1	consistent97	Alone	1	—	$0.00	14%	C
23	Concrete · CTWLFICX-PRIME51bd33e6-0…6086	Concrete	Ethereum	CTWLFICX-PRIME	Concrete	unknown	no model declared	—	$103.48M	<0.1%never at scale	0.1%	0.78	0.3%	—	—	—	39d	quotes ~00.03% in 29d	consistent97	Alone	1	—	$0.00	11%	C
24	Grove x Steakhouse USDC High Yield0xBeEf2d50…461A	Morpho	Base	USDC	—	unknown	no model declared	—	$103.41M	0.6%never at scale	0.0%	—	0.1%	—	—	—	51d	4.29%of4.41%from 0.35% in 30d	consistent97	Multisig	—	—	$24.05M	14%	B
25	Avant avUSD · SAVUSDc74227a1-e…aecb	Avant avUSD	Avalanche	SAVUSD	Avant avUSD	unknown	no model declared	—	$101.46M	0.2%over 8d onlynever at scale	0.0%	—	—	—	—	—	8d	8.54%of7.54%from 0.70% in 30d	consistent100	Alone	—	—	-$179.0k	2%	C

1–25 of 400 vaultsShow

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