Conservative

risk: lower Mature · 113 days paper, not live

People who want stablecoins to earn something while capital stays the priority.

Objective: Steady lending income on large stablecoin lending markets, no leverage.

Result

realized · paper

4.9% annualised drawdown −0.04%

Measured 2026-10-13 · 113 evidenced days · paper, not live money · not a guarantee

Evidenced days: days for which a complete, checkable daily record of the portfolio exists.

research target up to 6% — a goal, not a result or a forecast.

Why the target differs from the result: the target is what the research tries to reach under good conditions; the result is what actually happened, after modelled costs.

What it holds now

Protocols held (weights are not published):

Aave v3
Compound v3
Fluid (fUSDC)
Maple
Morpho Blue (Base)

Position on 2026-10-14: 5 lending positions, cash $5,000

Technical detail

T1: aave_v3, compound_v3 · T2: fluid_fusdc, maple, morpho_blue_base

What can go wrong

A lending protocol fails or is hacked

Money sits in smart contracts run by other teams. A bug or exploit there can lose part of it — no insurer stands behind it.

More detail

Only protocols above a minimum market size are used, and no single protocol may hold more than a set share of the portfolio. That limits the damage of one failure; it does not remove it.

A stablecoin loses its dollar peg

A "stable" coin can trade below $1 for days or for good. Yield does not help if the coin itself loses value.

More detail

The portfolios hold USD stablecoins only. A depeg has not occurred during this track, so the measured drawdown does not show this risk.

You cannot exit when you want

A lending market can be fully borrowed, a fixed-rate position may need to be sold below its value, a loop may be slow to unwind.

More detail

Conservative stays in daily-liquid lending markets; Balanced holds a fixed-rate leg to maturity; Aggressive depends on market depth.

Short history

A few months of paper results say little about a bad year — and some strategies have only days (see each strategy's day count).

More detail

Rates are published only after a minimum number of evidenced days, and every figure carries its measurement date.

Real trading costs more than paper

These are simulations. Real gas, slippage and delays would lower the results shown.

More detail

Modelled gas and slippage of the portfolio's own moves are charged; real execution costs are not.

Too much in one place

Holding few protocols on few chains means one problem hits a large share of the money.

More detail

Per-protocol and per-chain caps apply to Conservative; the research portfolios hold only a handful of positions.

Yields fall

Lending rates move with demand. When borrowing demand drops, income drops with it.

More detail

Past rates are measured, not promised; the research target is not a forecast.

All risks across strategies →

Limits and protection

−5% from peak → no new positions (hold and reduce only); −10% → all to cash

Lending markets — normally withdrawable daily; can be delayed if a market is fully borrowed.

Paper stage. Live capital is not open; opening it requires a decision by the project owner and a legal review — not just a day count.

How it works

unlevered stablecoin lending

How we measure Day-by-day results Verify it yourself

Personal research project in paper validation — not investment advice, not a regulated service, not raising capital; results are simulated. Full disclaimer & risk disclosure →