Watch Vault Summit NYC live: x.com/i/broadcasts/1jGXggDDV…

The vault stack has changed more in the last twelve months than the years before it. What comes next is the reporting, compliance, and operational layer that lets institutions actually use it. Jackson McGonagle, Jasmine Jia, Merlin Egalite (@MerlinEgalite), Ruben Amenyogbo ( @xxi_eth ), and Tesa Ho ( @defin00b) on the next generation of vault architecture:

Each layer of the vault stack owns different risks. Understanding where the handoffs are is where the due diligence starts. Weso (@the_weso), Bhau Kotecha (@bhau___), Christopher Perkins (@perkinscr97), Daniel Mon (@DavidMicley), and Andrew Jacobson (@AndrewJacobson_) on infrastructure, curation and distribution as separate layers:

let's see if singapore brings the same heat

Christine Moy (@cmoyall) from @apolloglobal and Redwan Meslem (@RedoudouM) from @EntEthAlliance on institutional migration onchain and the infrastructure still being built:

Variable rates change every block. For a business with a known cost of capital requirement, that is not a workable structure. Pierre-Yves Gendron (@pygendron) from @TenorFinance on fixed rate markets, OTC requests, and the use cases that become possible when the rate is known in advance:

Most of the vault conversation is fixed income. Most institutional portfolios are not. Aya Kantorovich (@aya_kantor) from @upshift_fi on equities, thematic baskets, and directional products, the part of the risk curve that onchain asset management has not yet addressed:

Transparency doesn't mean giving away your edge. It means proving the minimum threshold LPs need, without revealing the rest. Wojtek Pawlowski (@WojtekP) from @AccountableData on how ZK proofs let vaults prove what LPs need to know, without revealing strategy:

Institutions are not asking why vaults exist. They are asking whether they are sufficiently better than what they already have. Jason Guthrie (@GuthrieFi), Sam ten Cate, James Harris (@jemharris11), Chris Walker (@CWALK_19), and DeFi Dave (@defidave) on the real barriers to first allocation:

As vaults take over finance, Vault Summit took over the NYSE. We connected the world's largest institutions with the teams building the future of finance onchain. Special thanks to our host @Morpho, co-host @SPGlobal, and Title sponsors @gauntlet_xyz, @FordefiHQ, and @Visa. Next stop, Singapore.

Thank you @angie_pnz for two great Roundtables @Vault__Summit and @stable_summit. Happy to have joined!

Vault Summit by @Morpho took over the NYSE on Friday, with @SPGlobal Co-hosting a day on what it takes to run real assets on-chain. 🏛 Our own Francisco Montenegro made the case for the road to $30T on-chain from inside the building where that number already lives. Every company listed on the NYSE is worth more than $30T today, and Standard Chartered expects tokenized assets to reach the same figure by 2034. The thing that kept institutions off-chain used to be the law, and this year that got answered. @Paxos, which acquired Fordefi, just became the first blockchain-native firm the SEC has registered as a clearing agency. What is left is operational, and that is what Fordefi has been building since 2021. Watch the full keynote👇

Last Friday, Upshift co-founder @aya_kantor took to the @Vault__Summit stage at the New York Stock Exchange 🇺🇸 Vaults are fast being adopted for institutional asset management but questions remain about risk management, regulatory clarity and non-correlated yield opportunities. It was great to catch up with teams from @Bitwise, @Securitize, @Morpho, @FordefiHQ, @kpk_io, @3f_xyz and more!

What bear market? @Vault__Summit at the @NYSE was great vibes and so were the all of the @3f_xyz partners and future partners working tirelessly to make RWAs seamlessly composable with DeFi. Thanks to @Morpho for the wonderful conference and @keyrock for cohosting the dinner. We are excited to help scale onchain finance with visionary partners including @FalconXGlobal @SuperstateInc @centrifuge @particula_io @Fidelity @upshift_fi @Blockworks @flowdesk_co @Bitwise

Risk conditions evolve in real time. The infrastructure managing them should too. Adam Sadowski (@WormholeOracle) from @LlamaRisk on the limitations of current DeFi risk response paths and what a unified risk layer looks like in practice:

For many institutional allocators, minting a token, managing a wallet, and looping across DeFi is a meaningful barrier. Vaults are one way to simplify that path. Ayyan Rahman (@Ayyanrahman) from @onrefinance on using vaults to make institutional grade RWA yield more accessible:

Had a great time moderating Vault Summit at NYSE this year. Truly a seminal moment for onchain finance. The best is yet to come 🏛️

Yield that is purely supply side does not sustain itself. The borrower demand has to be there too. Jacob Frantz (@therealjfrantz) from @coinbase on building sustainable onchain yield at consumer scale and what that requires beyond a simple vault front end:

Real businesses are coming onchain. Commodity trade finance, insurance pools, private credit. Vaults are becoming the infrastructure that makes them accessible to allocators who could not reach them before. Joshua Betancourt, Adam Blumberg (@Interaxis8), Soufia Trabelsi (@Cyborgxsoufia), and Ron Cohen from @FordefiHQ on new asset classes coming onchain and what that opens up for investors:

Transparency, curator track records, and a compliance review of the smart contract tend to come before capital moves. Damien Ekechukwu (@dam0eke) from @zerohashx, Camille L Cordero from Anchorage Digital, Tom Whitworth, and Simon Mathonnet from @gauntlet_xyz on how vault strategy adapts to capital and customers: