UltraYield - Vault Curation & Infra

@Mr3ztime @hyperbeat There was no haircut in hbBTC vault. The vault produced positive returns.

@hyperbeat something didn't smell right when i used the hbbtc vault :( took the haircut and got out of it now I know why

@ChainShieldAI @Schlagonia We actually agree here and are onboarding an external fund admin for our own pure UltraYield vaults (contracts + curation). The more oversight - the better.

So the vault manager manually setting their NAV inflated the PPS. Shocking. If only there were some sort of way to verify these kinds of things.......

@deepcryptodive @0xcarnation Looping was quite unprofitable for everyone on HyperEVM during last summer and on several other occasions. We weren't heavily relying on it and were actively managing positions to reduce the risk of negative yield, especially after last summer.

@ultrayieldapp @0xcarnation Aka, unprofitable looping? 🤔

Dear Users of hbHYPE and hbBTC vaults on the Hyperbeat platform, Due to continued material outflows and the broader low-yield environment across the industry, we have made the decision to close the hbHYPE and hbBTC vaults that are curated by Ultra on the Hyperbeat platform. As part of this process, all positions within the hbHYPE vault have been fully closed and the funds have been prepared for user redemptions. Positions within the hbBTC vault are expected to be fully unwound within the following week, after which the funds will be prepared for full redemptions. All associated exit fees, commissions, and slippage costs have already been settled, and assets are now available for withdrawal. Both Hyperbeat and Upshift are aligned on the orderly unwinding of these vaults and the return of assets to users. Please feel free to claim your funds at your convenience. Following a full reconciliation of all positions, the discrepancy was identified by Hyperbeat and the parties adjusted the hbHYPE Vault’s pricing downward by approximately 1% to ensure it accurately reflects the underlying assets. This adjustment was reviewed and validated by both Ultra and Upshift, with support from the Hyperbeat team, whose transparency and collaboration throughout this process we greatly appreciate. Ultra also wants to be clear that the Hyperbeat team was not involved in, nor responsible for, the underlying discrepancy. We appreciate Hyperbeat’s transparency in helping surface and address the issue, as well as their constructive engagement in identifying a path forward. There was no discrepancy adjustments in hbBTC Vault. All funds in hbHYPE vault are available for immediate withdrawals. Majority of funds in hbBTC vault are available for redemptions as well and within a week all position will be fully closed.

This discrepancy resulted from technical valuation inconsistencies during periods of heightened market volatility and was further impacted by recent outflows. The original discrepancy, along with small trading losses and position closing / exit costs, was driven by elevated interest rates, slippage, and some valuation inconsistencies. This was adjusted in hbHYPE Vault to reflect the final asset value after closing all vault positions. There was no discrepancy adjustments in hbBTC Vault. Please DM if there are any questions, we are happy to hop on a call and go over this.

@ultrayieldapp where did that discrepancy come from? Fraud, Negligence, or Poor Risk Management?

@Schlagonia We've posted our response under the initial post, the views expressed by Hyperbeat contain misleading information and omit essential facts. Feel free to DM us for questions.

Dear users, We want to address recent statements published by Hyperbeat regarding UltraHYPE Vault. Hyperbeat has made claims that we believe are materially inaccurate and misleading. We strongly disagree with their assessment of the situation and reject it. Under our agreement, Ultra operated as the risk curator and our role was to manage the vault in accordance with prevailing market conditions and established risk parameters. Our legal team is actively handling this matter, and we will share additional updates when appropriate. We will be formally serving Hyperbeat with a cease and desist notice regarding all false and misleading statements. And we are preparing to pursue further legal action related to defamation and the dissemination of inaccurate factual claims.

All our lending vaults are built to provide access to curated lending opportunities with strategies backed by our investment team’s rigorous due diligence and research!

USDT Vault: #overview" target="_blank" rel="nofollow noopener">app.morpho.org/ethereum/vault…

Our @Morpho V2 stablecoin vaults accepting USDC and USDT are live! If you have liquidity in Morpho V1 vaults, please migrate to the new ones, the links are available in the following tweets.

Glad to work alongside @citrea_xyz and help grow the new ecosystem!

To address the latest liquidity crunch in our @GearboxProtocol USDC Vault on Monad we've adjusted the Interest Rate Model, currently borrow rate at 100% utilization moved from 20% to 10%. This strikes a balance between looping strategy losses and attractiveness of the lending side. None of the accepted collaterals have any exposure to rsETH. We continue to monitor the markets and will adjust accordingly to find the balance, also working on other solutions to ensure the rates are cooled down, including work with LPs and external parties to help incentivize the lending side.

2/ For hgETH we are waiting for Kelp and AAVE to estimate the impact

1/ All of our vaults except hgETH should be unaffected by the recent rsETH bridging exploit. Unaffected: • Ultra vaults • Midas mEDGE, mBASIS, msyrupUSDp • LoopedBTC, LoopedHype • Kelp sbUSD • hbHype, hbBTC Lending markets that we curate also don’t have any rsETH exposure

@ultrayieldapp @upshift_fi @k3_capital @august_digital And it's not just ETH. Stable Gain is outperforming the @vaultsfyi USD benchmark by over 100% in the last 30 days. Market-neutral strategies that hold up regardless of what charts are doing.

Just launched our new product with @looping_col Check it out for attractive BTC yield! Powered by UltraYield vault infrastructure.

UltraYield-curated vaults do not have any direct or indirect exposure to the Drift security incident. All vaults operations continue as normal.

Our @GearboxProtocol vault on Monad is currently generating ~11% APY, check out this opportunity. The collateral list is fully vetted by our research team, so this is a good opportunity to get decent returns in the current market: app.gearbox.finance/pools/143/0x6b…

All UltraYield-curated vaults now fully closed all remaining indirect exposure to Resolv that we had on Plasma chain through Fluid, so the exploit didn't have any negative effect on our depositors!