Wintermute Launches Armitage, Bringing Its DeFi and Trading Expertise to Vault Curation

Armitage combines Wintermute’s trading operations and risk management with non-custodial vault curation

Wintermute announced Armitage, a new DeFi vault curation business designed to bring institutional-grade risk management and trading intelligence to decentralized lending markets. The first two Armitage vaults will be deployed on Morpho in May, both denominated in USDC, with additional vaults, chains, and protocols to follow.

Armitage operates as a vault curator, launching initially on Morpho with plans to expand across additional protocols and chains. Through Armitage, the team dynamically allocates capital, sets risk parameters, selects collateral assets, and rebalances exposures in real time.

“Yield aggregators brought DeFi vaults to the mainstream, but curation has largely meant setting risk parameters and managing business relationships. The harder problems, like preventing bad debt through liquidations and ensuring liquidity access during crunches, are ones that our team has dealt with firsthand, in live markets, for years. Armitage is what you get when that experience sits at the curator seat, combined with deep expertise in onchain capital management and security,” said Igor Igamberdiev, Wintermute’s Head of Research, SEAL 911 core contributor, and recently named one of Ethereum’s top security experts by TheDAO Security Fund.

“Wintermute launching Armitage on Morpho is a strong addition to the curator ecosystem,” said Paul Frambot, CEO and Co-Founder of Morpho. “We are proud to support their entry into vault curation and provide the infrastructure for them to bring years of trading and risk management expertise directly onchain. Every new curator strengthens the network, bringing new strategies, new depositors, and new borrower demand, and having a firm of Wintermute’s caliber join only accelerates that.”

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Vaults are permissionless and fully non-custodial, with no KYC requirements for depositors. Users can deposit and withdraw at any time directly onchain. Wintermute brings a differentiated approach to vault curation, leveraging its global trading infrastructure and real-time market data across more than $10 billion in average daily trading volume, 70+ venues, and 10+ chains. Unlike other current curator solutions that rely on external liquidators, Wintermute is able to execute liquidations itself across every supported market. As a result, Armitage will accept collateral types that other curators cannot, which expands the range of yield opportunities available to depositors.

Armitage is designed to scale across chains and protocols, following yield opportunities as they emerge across an expanding DeFi landscape rather than remaining tethered to any single ecosystem.

Armitage refers to the vault curation business, conducted by an affiliate entity of the Wintermute Group. “Wintermute” is a marketing name for Wintermute Trading Ltd and its affiliates. Different Wintermute entities trade different products. Availability of products and offerings is subject to jurisdictional limitation and capabilities of each Wintermute entity. Both Armitage and Wintermute do not engage in the management, custody or holding of any assets, including cryptoassets or fiat currency, on behalf of investors or customers.

This material is for informational purposes only, does not constitute an offer or solicitation and is only intended for sophisticated or institutional investors. These vaults might not be available to residents in certain jurisdictions. No communications made by Armitage are intended for any persons residing in the United Kingdom or the United States. The information on this post is not directed at nor intended for distribution to, or use by, any person resident in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

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