⌘K

Live evidencecounted 20m ago

0.50days of MEME volume to unwind the crowd99%of the XMR book on one side, across 30 vaults$1.30Bunder one key with no guardian, 52 of the 424 vaults whose control we have read$334.3Mwhose control we have never read, across 3,253 vaults$1.95Bsitting in vaults and not lent out$11.27Bunder 3,677 vaults we read$4.79Bin 323 vaults where we saw automated execution, nothing declared2,103vaults declared or on a venue built to run software, holding $1.02M324software-run vaults scored, 13% of them451operators identified behind them26networks where we read capital, from Ethereum to Cardano31,363,924deposits and withdrawals read from chain78changes recorded in the last day594,038ERC-8004 agent registrations read−0.57/ 30 days364,225distinct owners behind those registrations200,313registrations carrying a readable card, 34%3,337,008paid requests on the Olas rail (deliveries are counted apart)−0.68/ 30 days87suppliers delivering that work411,027agent-to-agent jobs read on Base+0.03/ 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 read0.50days of MEME volume to unwind the crowd99%of the XMR book on one side, across 30 vaults$1.30Bunder one key with no guardian, 52 of the 424 vaults whose control we have read$334.3Mwhose control we have never read, across 3,253 vaults$1.95Bsitting in vaults and not lent out$11.27Bunder 3,677 vaults we read$4.79Bin 323 vaults where we saw automated execution, nothing declared2,103vaults declared or on a venue built to run software, holding $1.02M324software-run vaults scored, 13% of them451operators identified behind them26networks where we read capital, from Ethereum to Cardano31,363,924deposits and withdrawals read from chain78changes recorded in the last day594,038ERC-8004 agent registrations read−0.57/ 30 days364,225distinct owners behind those registrations200,313registrations carrying a readable card, 34%3,337,008paid requests on the Olas rail (deliveries are counted apart)−0.68/ 30 days87suppliers delivering that work411,027agent-to-agent jobs read on Base+0.03/ 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 3,674 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%
2580 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: 11,266,558,359.938 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%
2561 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: 11,266,558,359.938 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

166 of 380 carry a liquidation price we can read

Closest to liquidation

1.3%

一三七, $991.1k of notional

Highest leverage

40.0×

Rhova - Market Maker defesa( hedge)

Within 10% of liquidation

3 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

26 of 400 shownClear filtersCounts are of all 400 vaults, not of the current selection.

Machine-managed only18 of 26 identified as machine-managed

Download CSV, part of Analyst

#																Earning from
1	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	3.77%of3.67%from 0.30% in 29d	consistent100	Contract	—	—	$72.93M	2%	B
2	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	2.89%of3.17%from 0.23% in 29d	consistent100	Contract	—	—	$63.99M	2%	B
3	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	2.85%of2.39%from 0.23% in 29d	consistent100	Alone	—	—	$24.48M	2%	B
4	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	4.31%of4.68%from 0.34% in 29d	consistent100	Multisig	—	—	$8.21M	2%	B
5	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%of4.27%from 0.35% in 29d	consistent100	Multisig	—	—	$28.33M	2%	B
6	Spark Blue Chip USDT Vault0xb0c42411…5B91	Morpho Vaults V2	Ethereum	USDT	SparkDAO0x0f963A8A…46A3	unknown	no model declared	—	$93.44M	0.1%over 8d onlynever at scale	0.0%	—	—	—	—	—	8d	3.08%of2.25%from 0.25% in 29d	consistent100	Contract	—	—	$56.22M	2%	B
7	Steakhouse Prime USDT0xbeef003C…2bf9	Morpho Vaults V2	Ethereum	USDT	Steakhouse Financial0x827e8607…eCdB	likely	no model declared	—	$63.02M	0.1%over 8d onlynever at scale	0.0%	—	—	—	—	—	8d	3.42%of2.51%from 0.27% in 29d	consistent100	Contract	—	—	$2.86M	2%	B
8	Pendle Ecosystem USDC0x55C1B6e4…6f05	Morpho Vaults V2	Ethereum	USDC	Armitage by Wintermute	unknown	no model declared	—	$59.68M	0.1%over 8d onlynever at scale	0.0%	—	—	—	—	—	8d	5.69%of7.28%from 0.45% in 29d	consistent100	Multisig	—	—	-$3.07M	2%	B
9	Steakhouse High Yield USDC ethereum0xbeeff2C5…a757	Morpho Vaults V2	Ethereum	USDC	Steakhouse Financial0x827e8607…eCdB	likely	no model declared	—	$47.31M	0.1%over 8d onlynever at scale	0.0%	—	—	—	—	—	8d	5.57%of5.84%from 0.44% in 29d	consistent100	Contract	—	—	$4.44M	2%	B
10	Clearstar cbAssets Vault0x91C056B6…3a3c	Morpho Vaults V2	Base	USDC	Clearstar0x72882eb5…F0ef	unknown	no model declared	—	$33.41M	0.1%over 8d onlynever at scale	0.0%	—	—	—	—	—	8d	3.98%of4.27%from 0.32% in 29d	consistent100	Multisig	—	—	-$5.16M	2%	B
11	Steakhouse High Yield USDC base0xbeeff7aE…8100	Morpho Vaults V2	Base	USDC	Steakhouse Financial0x827e8607…eCdB	likely	no model declared	—	$25.28M	0.1%over 8d onlynever at scale	0.0%	—	—	—	—	—	8d	4.92%of5.29%from 0.39% in 29d	consistent100	Contract	—	—	-$7.99M	2%	B
12	3Jane Ecosystem Vault0xe05faDf2…9826	Morpho Vaults V2	Ethereum	USDC	Clearstar0x72882eb5…F0ef	likely	no model declared	—	$21.61M	0.2%over 8d onlynever at scale	0.0%	—	—	—	—	—	8d	6.11%of5.46%from 0.49% in 29d	consistent100	Multisig	—	—	$768.0k	2%	B
13	Bitwise Premium RWA AUSD0xB344e331…c418	Morpho Vaults V2	Ethereum	AUSD	Bitwise	likely	no model declared	—	$17.29M	0.1%over 8d onlynever at scale	0.0%	—	—	—	—	—	8d	4.41%of4.24%from 0.35% in 29d	consistent100	Alone	—	—	-$68.3k	2%	B
14	Api3 dCOMP USDC0x36cfe156…2439	Morpho Vaults V2	Ethereum	USDC	Api3	likely	no model declared	—	$15.00M	0.2%over 8d onlynever at scale	0.0%	—	—	—	—	—	8d	7.13%of7.20%from 0.57% in 29d	consistent100	Multisig	—	—	$1.30M	2%	B
15	Waterline Reservoir USDC ethereum · b962100xBEeFF047…6210	Morpho Vaults V2	Ethereum	USDC	Waterline0xC5fA35a7…dBdB	likely	no model declared	—	$12.75M	0.1%over 8d onlynever at scale	0.0%	—	—	—	—	—	8d	5.31%of5.06%from 0.42% in 29d	consistent100	Contract	—	—	-$340.3k	2%	B
16	Hyperithm USDC Apex ethereum · 179E2F0x093272C0…9E2F	Morpho Vaults V2	Ethereum	USDC	Hyperithm0x75178137…A325	likely	no model declared	—	$10.52M	0.1%over 8d onlynever at scale	0.0%	—	—	—	—	—	8d	6.32%of6.60%from 0.50% in 29d	consistent100	Multisig	—	—	$1.94M	2%	B
17	KPK USDC Yield ethereum0xD5cCe260…aA13	Morpho Vaults V2	Ethereum	USDC	KPK	likely	no model declared	—	$9.80M	0.1%over 8d onlynever at scale	0.0%	—	—	—	—	—	8d	6.57%of6.26%from 0.52% in 29d	consistent100	Multisig	—	—	$301.8k	2%	B
18	August USDC V2 monad0x80017bF0…bB59	Morpho Vaults V2	Monad	USDC	August Digital	unknown	no model declared	—	$8.02M	0.1%over 8d onlynever at scale	0.0%	—	—	—	—	—	8d	6.29%of8.48%from 0.50% in 29d	consistent100	Alone	6	—	-$2.61M	2%	B
19	Clearstar Core ETH0xBCA4E2E2…71da	Morpho Vaults V2	Base	WETH	Clearstar0x72882eb5…F0ef	unknown	no model declared	—	$5.91M	<0.1%over 8d onlynever at scale	0.0%	—	—	—	—	—	8d	1.49%of1.49%from 0.12% in 29d	consistent100	Multisig	—	—	$478.2k	2%	B
20	Gauntlet USDC Frontier base · D567650x1deEfABE…6765	Morpho Vaults V2	Base	USDC	Gauntlet0x9E33faAE…0585	likely	no model declared	—	$4.98M	0.1%over 8d onlynever at scale	0.0%	—	—	—	—	—	8d	5.33%of5.70%from 0.42% in 29d	consistent100	Multisig	—	—	-$484.3k	2%	B
21	Yearn OG USDC ethereum · 87B0690xB885F6d4…B069	Morpho Vaults V2	Ethereum	USDC	Yearn0x90D0f260…6B51	likely	no model declared	—	$4.16M	0.2%over 8d onlynever at scale	0.0%	—	—	—	—	—	8d	6.35%of5.90%from 0.51% in 29d	consistent100	Multisig	—	—	$622.5k	2%	B
22	Noon Ecosystem Vault0x8B12106a…78AF	Morpho Vaults V2	Base	USDC	Clearstar0x72882eb5…F0ef	unknown	no model declared	—	$3.40M	0.1%over 8d onlynever at scale	0.0%	—	—	—	—	—	8d	3.61%of3.85%from 0.28% in 28d	consistent100	Multisig	—	—	$3.40M	2%	B
23	Steakhouse Prime EURC base0xbeef009F…5DC1	Morpho Vaults V2	Base	EURC	Steakhouse Financial0x827e8607…eCdB	unknown	no model declared	—	$3.29M	0.1%over 8d onlynever at scale	0.0%	—	—	—	—	—	8d	2.77%of2.86%from 0.22% in 29d	consistent100	Contract	—	—	$474.2k	2%	B
24	KPK ETH Prime0xBb50A534…5FF9	Morpho Vaults V2	Ethereum	WETH	KPK	unknown	no model declared	—	$2.50M	0.1%over 8d onlynever at scale	0.0%	—	—	—	—	—	8d	2.10%of1.75%from 0.17% in 29d	consistent100	Multisig	—	—	-$169.2k	2%	B
25	KPK ETH Yield0x5dbf760b…7725	Morpho Vaults V2	Ethereum	WETH	KPK	likely	no model declared	—	$2.30M	0.1%over 8d onlynever at scale	0.0%	—	—	—	—	—	8d	2.97%of2.78%from 0.24% in 29d	consistent100	Multisig	—	—	-$97.9k	2%	B

1–25 of 26 vaultsShow