This paper presents a method for constructing Constant Function Market Makers (CFMMs) whose portfolio value functions match a desired payoff.
More specifically it shows that the space of concave, nonnegative, nondecreasing, 1-homogeneous payoff functions and the space of convex CFMMs are equivalent.
This method uses only basic tools from convex analysis and is intimately related to Fenchel conjugacy, and the paper demonstrates the result by constructing trading functions corresponding to basic payoffs, as well as standard financial derivatives such as options and swaps.
This paper presents a method for constructing Constant Function Market Makers (CFMMs) whose portfolio value functions match a desired payoff.
More specifically it shows that the space of concave, nonnegative, nondecreasing, 1-homogeneous payoff functions and the space of convex CFMMs are equivalent.
This method uses only basic tools from convex analysis and is intimately related to Fenchel conjugacy, and the paper demonstrates the result by constructing trading functions corresponding to basic payoffs, as well as standard financial derivatives such as options and swaps.
By selecting the Gauntlet USDC Balanced on Mainnet, BTCS benefits from Gauntlet’s risk management systems and quantitative modeling to capture sustainable DeFi returns.
This latest collaboration supports BTCS’s goal of building sustainable DeFi strategies with their Imperium initiative to drive long-term value through 2026 and beyond.
Public companies are increasingly targeting onchain DeFi strategies through Gauntlet Vaults, and digital asset companies like BTCS are leading the way.
Today, NASDAQ-listed BTCS Inc. announced that it has deployed funds into Gauntlet Vaults on Morpho, marking another step forward as the company expands its DeFi operations through its Imperium business line. Public companies are increasingly targeting onchain DeFi strategies through Gauntlet Vaults, and digital asset companies like BTCS are leading the way.
Gauntlet USDC Balanced on Mainnet is the first vault on Morpho to which BTCS has deployed funds. By selecting Gauntlet-curated vaults, BTCS benefits from Gauntlet’s risk management systems and quantitative modeling to capture sustainable DeFi returns.
<h2 chapter-beat="remove">Competitive yield strategies with USDC Balanced Vaults</h2>
Our Balanced Vaults run competitive strategies that allocate supply across a blend of large- and lower-cap collateralized markets while ensuring exposure to any one asset remains within defined risk parameters. All our vaults benefit from our robust curation framework, which includes rigorous due diligence, 24/7 liquidity and utilization monitoring, and continuous stress testing against volatility and liquidity shocks.
We equip investors, builders, and token issuers with data-driven strategies to confidently allocate over $1.7 billion onchain, leveraging eight years of cryptoeconomic research and quantitative modeling. Our risk models support top protocols in the space with over $48 billion in DeFi TVL.
This latest collaboration supports BTCS’s goal of building sustainable DeFi strategies with Imperium to drive long-term value through 2026 and beyond.
Institutions are moving onchain with Gauntlet
Public companies and institutional treasuries are recognizing that the onchain economy offers capital efficiency with greater transparency and control through non-custodial systems. DeFi vaults have created a path for TradFi to access DeFi opportunities, backed by rigorous risk management and robust security.
BTCS joins leading institutions worldwide that deploy capital to Gauntlet Vaults and rely on our risk models. Read more about our institutional collaborations on VaultBook.
Public companies and institutional treasuries are recognizing that the onchain economy offers capital efficiency with greater transparency and control through non-custodial systems. DeFi vaults have created a path for TradFi to access DeFi opportunities, backed by rigorous risk management and robust security.
BTCS joins leading institutions worldwide that deploy capital to Gauntlet Vaults and rely on our risk models. Read more about our institutional collaborations on VaultBook.
Public companies and institutional treasuries are recognizing that the onchain economy offers capital efficiency with greater transparency and control through non-custodial systems. DeFi vaults have created a path for TradFi to access DeFi opportunities, backed by rigorous risk management and robust security.
BTCS joins leading institutions worldwide that deploy capital to Gauntlet Vaults and rely on our risk models. Read more about our institutional collaborations on VaultBook.
Public companies and institutional treasuries are recognizing that the onchain economy offers capital efficiency with greater transparency and control through non-custodial systems. DeFi vaults have created a path for TradFi to access DeFi opportunities, backed by rigorous risk management and robust security.
BTCS joins leading institutions worldwide that deploy capital to Gauntlet Vaults and rely on our risk models. Read more about our institutional collaborations on VaultBook.
Public companies and institutional treasuries are recognizing that the onchain economy offers capital efficiency with greater transparency and control through non-custodial systems. DeFi vaults have created a path for TradFi to access DeFi opportunities, backed by rigorous risk management and robust security.
BTCS joins leading institutions worldwide that deploy capital to Gauntlet Vaults and rely on our risk models. Read more about our institutional collaborations on VaultBook.
Public
Public companies and institutional treasuries are recognizing that the onchain economy offers capital efficiency with greater transparency and control through non-custodial systems. DeFi vaults have created a path for TradFi to access DeFi opportunities, backed by rigorous risk management and robust security.
BTCS joins leading institutions worldwide that deploy capital to Gauntlet Vaults and rely on our risk models. Read more about our institutional collaborations on VaultBook.
Public companies and institutional treasuries are recognizing that the onchain economy offers capital efficiency with greater transparency and control through non-custodial systems. DeFi vaults have created a path for TradFi to access DeFi opportunities, backed by rigorous risk management and robust security.
BTCS joins leading institutions worldwide that deploy capital to Gauntlet Vaults and rely on our risk models. Read more about our institutional collaborations on VaultBook.
Public companies and institutional treasuries are recognizing that the onchain economy offers capital efficiency with greater transparency and control through non-custodial systems. DeFi vaults have created a path for TradFi to access DeFi opportunities, backed by rigorous risk management and robust security.
BTCS joins leading institutions worldwide that deploy capital to Gauntlet Vaults and rely on our risk models. Read more about our institutional collaborations on VaultBook.
Public companies and institutional treasuries are recognizing that the onchain economy offers capital efficiency with greater transparency and control through non-custodial systems. DeFi vaults have created a path for TradFi to access DeFi opportunities, backed by rigorous risk management and robust security.
BTCS joins leading institutions worldwide that deploy capital to Gauntlet Vaults and rely on our risk models. Read more about our institutional collaborations on VaultBook.
Another heading
Public companies and institutional treasuries are recognizing that the onchain economy offers capital efficiency with greater transparency and control through non-custodial systems. DeFi vaults have created a path for TradFi to access DeFi opportunities, backed by rigorous risk management and robust security.
BTCS joins leading institutions worldwide that deploy capital to Gauntlet Vaults and rely on our risk models. Read more about our institutional collaborations on VaultBook.
Public companies and institutional treasuries are recognizing that the onchain economy offers capital efficiency with greater transparency and control through non-custodial systems. DeFi vaults have created a path for TradFi to access DeFi opportunities, backed by rigorous risk management and robust security.
BTCS joins leading institutions worldwide that deploy capital to Gauntlet Vaults and rely on our risk models. Read more about our institutional collaborations on VaultBook.
Public companies and institutional treasuries are recognizing that the onchain economy offers capital efficiency with greater transparency and control through non-custodial systems. DeFi vaults have created a path for TradFi to access DeFi opportunities, backed by rigorous risk management and robust security.
BTCS joins leading institutions worldwide that deploy capital to Gauntlet Vaults and rely on our risk models. Read more about our institutional collaborations on VaultBook.
Institutions are moving onchain with Gauntlet
Public companies and institutional treasuries are recognizing that the onchain economy offers capital efficiency with greater transparency and control through non-custodial systems. DeFi vaults have created a path for TradFi to access DeFi opportunities, backed by rigorous risk management and robust security.
BTCS joins leading institutions worldwide that deploy capital to Gauntlet Vaults and rely on our risk models. Read more about our institutional collaborations on VaultBook.
