Silo Credio Vaults
- Project and Team Introduction: A detailed overview of the project, its mission, and the team’s qualifications and experience.
Credio is a risk curator and credit oracle provider. With our proprietary, automated risk and optimization engines we provide curation service focusing on the following strategies:
Real World Assets
- Particular focus on money markets and private credits - We build tokenization engine, machine learning risk models and credit oracles to onchain RWA markets. We also enable other providers to stream risk parameters directly to smart contracts.
- Partnership with Moody’s: Credio completed a project with Moody’s, a global rating agency, on bringing credit ratings onchain through Credio’s credit oracle. See a CoinDesk coverage here.
Delta neutral/leverage strategy
Adviser to Ethena: Credio is a member of risk committee advising on governance proposals, particularly on protocol integration and backing assets for both USDe and USDtb (new stablecoin)
- See our assessment of aUSDC/T as backing assets here
- See our protocol integration with regard to USDtb here
Restaking
Manage vaults on Symbiotic: We are a risk curator for symbiotic vaults. Our first vault uses Origin Protocol’s OETH as a delegated stake for shared economic security. Read about our staking vault strategy here
Credio is a product of Untangled Finance, a yield/credit infrastructure developer backed by Fasanara Capital, an UK-based institutional asset manager managing $4.5bn private credit exposures through a network of 140 originators across 60 countries.
- Vault Types: A description of the specific vault strategies or types the team intends to manage, including their intended use cases or target markets.
Our focus is to provide the highest risk adjusted returns for stablecoins, starting with:
USDC Real
These vaults target RWA collaterals including tokenized money market funds, onchain private credits and commodities such as gold, and in time, agricultural. All markets need to meet evaluation and due diligence requirements that apply across all our vault risk categories, particularly for RWAs:
- Due diligence: legal structure, issuer’s status, onchain and offchain backing assets, custodian, governance.
- Audits: Certified audits from top industry auditors for both the onchain smart contracts and offchain collaterals
- Active management: Regular risk parameter reviews ensure vaults continually align with existing market conditions and underlying collateral performance. Read our RWA private credit risk modeling work here
USDC Prime
Offer conservative, low-risk yields to LPs. These Vaults allocate to:
- High liquidity blue chip collaterals
- High price correlation between supply and collateral tokens
- to maximize risk-adjusted yield while minimising insolvency risks under extreme market conditions
USDC Core
Target higher risk-adjusted yield, allocating to both large and lower cap collateralized markets while ensuring any single exposure remains within acceptable limits:
- Active management of vault supply to market supply ratios to ensure availability of withdrawal liquidity.
- Sufficient liquidity and slippage to perform robust liquidations in severe market conditions.
USDC Emerging
Similar to USDC Real in terms of onboarding process but focus on onchain collateral markets. These include both new markets and ecosystem tokens.
For a deeper dive into our risk management and morning framework, go here
- Security and Risk Management: A concise explanation of operational security practices and the measures to protect user funds, such as multi-signature wallets or other safeguards.
Credio Curator address is a 3 of 5 multi-sig with core signers from Untangled Finance:
- untangledfi.eth
- untangledcredio.eth
- 0x0Ba28D29c5e6937F46c2A0995A2dfa843f9Dd18C
A 1-day timelock is set for changing supply caps, adding markets, and changing timelock durations. These actions will be pre-announced on forums to give LPs time to adjust supply if needed.
The guardian address is controlled by Aragon DAO (or equivalent on Sonic). They have veto control only on changing supply caps, removing markets, and changing timelock durations.