Architecture, Risk, and the Rise of Professional Curation in DeFi
Architecture, Risk, and the Rise of Professional Curation in DeFi
The Vault Economy
The Vault Economy
The Vault Economy
A comprehensive reference on how vaults work, how they are managed, and what determines whether capital deployed into them is protected.
A comprehensive reference on how vaults work, how they are managed, and what determines whether capital deployed into them is protected.
Inside This Report
Inside This Report
What DeFi Vaults Actually Are
What DeFi Vaults Actually Are
Explore vault types, from earn vaults on Morpho and Euler to multi-strategy deployments running across multiple protocols and chains. Including architecture, mechanics, and the ERC-4626 standard that underpins most of them.
Explore vault types, from earn vaults on Morpho and Euler to multi-strategy deployments running across multiple protocols and chains. Including architecture, mechanics, and the ERC-4626 standard that underpins most of them.
The Curation Layer
The Curation Layer
Understand the role curators and strategy managers play in vault management, including how strategies are designed and executed
Understand the role curators and strategy managers play in vault management, including how strategies are designed and executed
A Taxonomy of Vault Risk
A Taxonomy of Vault Risk
Break down smart contract risk, strategy-specific risk, collateral risk, and oracle and liquidity risk. Illustrated with real events from 2025, including the November 2025 DeFi vault contagion that wiped over $3 billion from vault TVL.
Break down smart contract risk, strategy-specific risk, collateral risk, and oracle and liquidity risk. Illustrated with real events from 2025, including the November 2025 DeFi vault contagion that wiped over $3 billion from vault TVL.
Collateral Risk as the Primary Variable
Collateral Risk as the Primary Variable
Discover Sentora’s asset risk framework, explaining why collateral selection is the single most consequential decision in vault curation, and how failures in that decision propagated through the market in recent years.
Discover Sentora’s asset risk framework, explaining why collateral selection is the single most consequential decision in vault curation, and how failures in that decision propagated through the market in recent years.
Why DeFi and Institutional Readers Need This Report
Why DeFi and Institutional Readers Need This Report
Understand What You Are Deploying Into
Understand What You Are Deploying Into
Two products labeled "vault" can carry entirely different risk profiles. This report gives allocators the vocabulary and framework to evaluate vault architecture, curation quality, and strategy composition before committing capital.
Two products labeled "vault" can carry entirely different risk profiles. This report gives allocators the vocabulary and framework to evaluate vault architecture, curation quality, and strategy composition before committing capital.
Understand Vault Risks
Understand Vault Risks
When a curated vault suffers losses, the protocol and the curator are rarely liable. This report maps risks to understand and analyze before deploying into vaults.
When a curated vault suffers losses, the protocol and the curator are rarely liable. This report maps risks to understand and analyze before deploying into vaults.
A Reference Built for Real Market Conditions
A Reference Built for Real Market Conditions
The analysis draws on real incidents from 2025, including the Stream Finance collapse, the October flash crash, and Morpho and Euler vaults hitting 100% utilization. The framework is grounded in events that already happened, not hypothetical scenarios.
The analysis draws on real incidents from 2025, including the Stream Finance collapse, the October flash crash, and Morpho and Euler vaults hitting 100% utilization. The framework is grounded in events that already happened, not hypothetical scenarios.
