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End-to-End Asset Management.
Natively Onchain.
Not offchain strategies tokenized onto a blockchain. A natively onchain yield portfolio — built, allocated, and managed by a regulated Asset Manager on DeFi infrastructure.
DeFi Yield Is Not a Differentiated Strategy Anymore
Platforms hold billions in client stablecoins that don't generate yield natively. Users expect returns — but today's yield strategies share the same structural weaknesses.
No Differentiation
Every allocator deploys to the same protocols — Aave, Compound, Morpho. High correlation, no competitive edge, concentrated protocol risk.
Crypto-Cyclical Yields
DeFi yields track crypto activity: when markets slow, trading, borrowing, and yields all compress in lockstep. There is no counter-cyclical diversification.
Unregulated Curators
DeFi yield allocators are rarely regulated, rarely fiduciaries, and rarely asset managers. This creates governance and distribution risk for platforms.
“Composable recursive leverage strategies” and “dynamic yield routing” — it works until it doesn't.
Don’t Ignore Decades of Asset Management Practices
Traditional portfolio logic — diversification, active allocation, and fiduciary governance — applied to onchain yield. Not a DeFi strategy. A real onchain yield portfolio.
Diversified Exposure
Yield exists outside DeFi — tokenized bonds, ETFs, institutional credit, secured lending. Crypto cycle ≠ Credit cycle.
Active Allocation
A multi-sleeve vault with an allocation engine that dynamically rebalances across DeFi and traditional yield sources weekly.
Regulated Asset Manager
CoinShares holds AIFMD, MiFID, and MiCA licenses — formal governance, transparency, and duty to act in investors' best interest.
Multi-Sleeve Vault Design
Four distinct allocation sleeves under a unified allocation engine, each targeting a different risk/return profile and yield source.
CoinShares Onchain Yield Vault
Railnet ProtocolMarket Whitelisting & Allocation
Four risk tiers with distinct allocation strategies, from conservative to high-yield DeFi income. The Investment Grade profile is the flagship offering.
| Protocol / Sleeve | Conservative | Investment Grade | High Yield | DeFi Income |
|---|---|---|---|---|
| Aave (Liquidity Hub) | 20% | 20% | 10% | 31% |
| Ondo (Tokenised Funds) | 20% | 15% | 10% | 0% |
| Ethena (Market-Neutral) | 5% | 10% | 20% | 15% |
| Maple (Secured Repo) | 10% | 20% | 30% | 0% |
| Morpho / Compound (DeFi) | 45% | 35% | 30% | 54% |
The Moat Is Regulatory
Tokenized financial instruments are permissioned markets. Unregulated allocators cannot participate. CoinShares bridges the gap.
Fiduciary Duty
Regulated asset managers operate under formal governance frameworks with transparency requirements and a legal duty to act in investors' best interest. This is a structural advantage over unregulated DeFi curators.
Permissioned Access
Tokenized bonds, ETFs, and institutional credit products require regulated counterparties. CoinShares' licensing enables allocation to yield sources that are structurally inaccessible to DeFi-native curators.
CoinShares × Railnet
Allocation across DeFi markets. Exposure to tokenized real-world assets. Integration of traditional market instruments. This is onchain asset management.