⌘K

Live evidencecounted 28m 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 Cardano31,350,034deposits 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%3,337,008paid requests on the Olas rail (deliveries are counted apart)−0.67/ 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 Cardano31,350,034deposits 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%3,337,008paid requests on the Olas rail (deliveries are counted apart)−0.67/ 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 3,654 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%
2606 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: 11,266,487,225.769 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%
2587 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: 11,266,487,225.769 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 381 carry a liquidation price we can read

Closest to liquidation

1.3%

一三七, $991.1k of notional

Highest leverage

40.0×

一三七

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

68 of 400 shownClear filterCounts are of all 400 vaults, not of the current selection.

Machine-managed only14 of 68 identified as machine-managed

Download CSV, part of Analyst

#																Earning from
1	HLP Strategy X0x469f6902…d7d8	Hyperliquid	Hyperliquid	USDC	HLP0xdfc24b07…f303	unknown	no model declared	—	$100.46M	3.4%never at scale	0.0%	—	2.4%	—	—	—	289d	rewards unread0.25% in 29d	consistent93	—	1	100%	$0.00	25%	B
2	Hyperliquidity Provider (HLP)0xdfc24b07…f303	Hyperliquid	Hyperliquid	USDC	Hyperliquidity Provider (HLP)0x677d831a…84e7	unknown	no model declared	—	$41.21M	361.8%175.3% at scale	5.8%	3.47	23%	—	—	—	3.4y	too new	consistent90	—	100+	<1%	-$8.22M	50%	B
3	HLP Liquidator 20xb0a55f13…9540	Hyperliquid	Hyperliquid	USDC	HLP0xdfc24b07…f303	likely	no model declared	—	$30.00M	388.0%387.9% at scale	0.8%	25.41	116%	1,541%	20.0×	—	1.5y	flat0.00% in 29d	erratic47	—	1	100%	$0.00	40%	B
4	Sentora OUSD Main0x0D136e26…df48	Morpho Vaults V2	Tempo	OUSD	Sentora	unknown	no model declared	—	$24.94M	—	—	—	—	—	—	—	—	no series	—	—	—	—	$24.94M	0%	B
5	Makina · USDSHFMK56a40119-5…a785	Makina	Ethereum	USDSHFMK	Makina	unknown	no model declared	—	$21.96M	—	—	—	—	—	—	—	—	no series	—	—	—	—	$0.00	0%	C
6	Kamino pyUSD–USDCHmj82e48X9…UiGm	Kamino	Solana	—	—	unknown	no model declared	—	$16.69M	<0.1%never at scale	0.0%	0.94	0.2%	—	—	—	40d	no quote0.03% in 30d	consistent93	—	—	—	—	11%	D
7	Fusion by IPOR · WETH ethereum · f1663cb01b6734-1…26b1	Fusion by IPOR	Ethereum	WETH	Fusion by IPOR	unknown	no model declared	—	$14.77M	<0.1%over 1d onlynever at scale	0.0%	—	—	—	—	—	1d	5.09%of3.29%from 0.40% in 29d	consistent100	—	128	—	-$207.3k	0%	C
8	Growi HF0x1e37a337…8d5e	Hyperliquid	Hyperliquid	USDC	Growi0x77894508…f60d	likely	no model declared	—	$13.51M	179.3%67.6% at scale	12.3%	1.87	23%	15,399%	12.2×	trading	2.2y	too new	consistent94	—	100+	5%	$1.88M	34%	B
9	Kamino USDG–USDCByPbo7yGcs…mBdu	Kamino	Solana	—	—	unknown	no model declared	—	$10.51M	<0.1%never at scale	0.0%	0.87	0.1%	—	—	—	40d	no quote0.00% in 30d	consistent93	—	—	—	—	11%	D
10	YieldNest · YNETHXe3c59895-d…a4a0	YieldNest	Ethereum	YNETHX	YieldNest	unknown	no model declared	—	$10.43M	<0.1%over 8d onlynever at scale	0.0%	—	—	—	—	—	8d	no quote0.18% in 30d	consistent87	—	1,099	—	$2.69	2%	C
11	Kamino SyrupUSDC–USDCC7HgBuY7AG…j5zv	Kamino	Solana	—	—	unknown	no model declared	—	$10.06M	0.2%never at scale	0.0%	15.56	0.1%	—	—	—	40d	no quote0.13% in 30d	consistent93	—	—	—	—	11%	D
12	[ Systemic Strategies ] L/S Grids0x07fd993f…689d	Hyperliquid	Hyperliquid	USDC	Systemic Strategies0x2b804617…6f4b	likely	no model declared	—	$9.96M	165.7%45.9% at scale	28.7%	1.34	55%	626%	9.3×	losing	1.7y	implausible-11.09% in 28d	consistent94	—	100+	7%	-$3.36M	45%	B
13	Ember Protocol · USDC sui · e7275ca1a9916c-6…275c	Ember Protocol	Sui	USDC	Ember Protocol	unknown	no model declared	—	$9.95M	—	—	—	—	—	—	—	—	no series	—	—	—	—	—	0%	C
14	Fusion by IPOR · WETH base · 63a3c8a1dc9b8c-b…a3c8	Fusion by IPOR	Base	WETH	Fusion by IPOR	unknown	no model declared	—	$9.24M	—	—	—	—	—	—	—	—	no series	—	—	—	—	—	0%	C
15	YieldNest · YNRWAX21617aef-e…d469	YieldNest	Ethereum	YNRWAX	YieldNest	unknown	no model declared	—	$9.24M	0.0%over 8d onlynever at scale	0.0%	—	—	—	—	—	8d	flat0.00% in 30d	consistent87	—	2,512	—	$0.00	2%	C
16	Ember Protocol · USDC sui · 43f5d33df50f47-0…f5d3	Ember Protocol	Sui	USDC	Ember Protocol	unknown	no model declared	—	$8.71M	—	—	—	—	—	—	—	—	no series	—	—	—	—	—	0%	C
17	Ember Protocol · USDC sui · 0cf5c00ce62070-5…f5c0	Ember Protocol	Sui	USDC	Ember Protocol	unknown	no model declared	—	$8.70M	—	—	—	—	—	—	—	—	no series	—	—	—	—	—	0%	C
18	drkmttr0xc179e039…e0c8	Hyperliquid	Hyperliquid	USDC	drkmttr0xf4f7cebb…239f	likely	no model declared	—	$8.45M	—	—	—	—	73%	4.6×	trading	303d	implausible-91.52% in 29d	consistent94	—	100+	36%	-$534.8k	26%	B
19	Makina · INTMKSRROYUSDC9bdf55a5-3…65eb	Makina	Ethereum	INTMKSRROYUSDC	Makina	unknown	no model declared	—	$7.07M	—	—	—	—	—	—	—	—	no series	—	—	—	—	$0.00	0%	C
20	DOUBLETOP Vault0x53f8f390…ceff	Hyperliquid	Hyperliquid	USDC	DOUBLETOP0xfb9c7023…d388	unknown	no model declared	—	$6.73M	32.9%25.3% at scale	5.6%	9.64	40%	—	18.9×	trading	114d	rewards unread-5.60% in 29d	intermittent70	—	100+	7%	$1.49M	16%	B
21	[ Systemic Strategies ] ♾️ HyperGrowth ♾️0xd6e56265…5b42	Hyperliquid	Hyperliquid	USDC	Systemic Strategies0x2b804617…6f4b	likely	Claude Opus	B	$6.26M	197.8%never at scale	40.4%	2.57	111%	2,224%	8.0×	trading	1.1y	implausible-8.57% in 27d	consistent90	—	100+	10%	-$3.59M	31%	B
22	Makina · DETH3acfa7fe-2…91f2	Makina	Ethereum	DETH	Makina	unknown	no model declared	—	$6.22M	—	—	—	—	—	—	—	—	no series	—	—	—	—	$0.00	0%	C
23	Kamino SOL–JITOSOL solana · CyggXdHCntzqDU5w…ggXd	Kamino	Solana	—	—	unknown	no model declared	—	$6.17M	10.2%never at scale	9.4%	2.22	62%	—	—	—	40d	no quote12.02% in 30d	consistent93	—	—	—	—	11%	D
24	Fusion by IPOR · CBETH8d8b3ef8-1…4947	Fusion by IPOR	Base	CBETH	Fusion by IPOR	unknown	no model declared	—	$6.16M	—	—	—	—	—	—	—	—	no series	—	—	—	—	—	0%	C
25	Fusion by IPOR · WETH base · 12aa9703e9d970-3…a0ec	Fusion by IPOR	Base	WETH	Fusion by IPOR	unknown	no model declared	—	$6.05M	<0.1%over 1d onlynever at scale	0.0%	—	—	—	—	—	1d	3.61%of1.69%from 0.28% in 28d	consistent100	—	—	—	$115.9k	0%	C

1–25 of 68 vaultsShow