Total deposits surge past $10 billion as crypto "vaults" expand

Odaily reports: Total deposits in crypto "vaults" have grown from $4 billion at the start of last year to over $10 billion. Fintech companies, digital asset treasury management firms, and hedge funds are the main depositors in such "vaults." The "vaults" operate through smart contracts on DeFi platforms, with "managers" responsible for selecting lending strategies, setting risk limits, and collecting fees. Yields typically range from 3% to 10%, while higher-risk strategies may deliver returns of 20% or more, though depositors also face collateral risk, liquidity risk, and smart contract risk.