Studies

Reusable empirical work cited by strategy memos.

• Tokenized credit funds compared — Securitize STAC vs Janus Henderson / Anemoy JAAA vs Midas mWINTokenized credit-fund carry (structured-credit RWA)2026-08-17
• Morpho vault exposure memos — less-known collateral assetsStablecoin lending via Morpho v2 curated vaults2026-08-13
• Eight USD and credit products: what they do and who pays the returnUSD liquidity and credit-product screening2026-08-13
• Reading an LRT deposit drawdown — ether.fi's 47% run and what the queue provedLST/LRT spot holdings and looped LST collateral2026-08-06
• LST yield spreads are a window artifact — measure them at a year, not a monthLST/LRT selection and relative-value sizing2026-08-06
• What can we do with wstETH to earn additional yield?wstETH deployment (lend / loop / borrow-and-redeploy)2026-08-03
• The PYUSD reward subsidy, and what Sky actually has to do with PYUSDPYUSD lending2026-07-27
• syrupUSDC as Morpho collateral — the shared node between our Maple and PYUSD positionsStablecoin lending against yield-bearing collateral2026-07-21
• DeFi/CeFi failure-mode taxonomy — what actually breaks yield venuesall strategies (cross-cutting)2026-06-21
• Maple syrup pools in the June 2026 BTC drawdownBTC-collateralized stablecoin lending (Maple, fixed-rate)2026-06-10
• Morpho stablecoin vaults in the June 2026 BTC drawdownBTC-collateralized stablecoin lending (Morpho V1/V2)2026-06-10
• wstETH/WETH loop — borrow-rate spikes and the hold-vs-unwind decisionwstETH/WETH loop2026-05-29