Shyft Finance is set to open its first two curated yield vaults on Ethereum, with the regulated GAP3 Partners FZCO serving as the Co-Curator for both vaults.
GAP3 Partners FZCO is a Dubai-based Virtual Asset Service Provider that obtained an active license from the Dubai Virtual Assets Regulatory Authority (VARA) last year.
As a Co-Curator, GAP3 provides research, analysis, and recommendations to Shyft around each of its vault strategies.
shCORE and shYIELD are Shyft’s first two Ethereum-based vaults. With their initial allocations established and vault contracts already deployed on mainnet, the two teams are now working on the curation framework as the vaults get ready for pre-deposits.
shYIELD and shCORE
shYIELD combines three different sources of yield: Radiant Prime, Maple syrupUSDC and Gauntlet USD Alpha.
Here, Radiant Prime provides the market-neutral trading component. The strategy seeks relative-value opportunities across the crypto market while maintaining near-zero net market exposure. The execution takes place through centralized exchanges (CEXs).
Meanwhile, Maple’s syrupUSDC introduces an on-chain credit component. This ERC-4626 vault generates yield mainly through overcollateralized lending to institutional borrowers, alongside additional strategies such as futures-basis trading and DeFi liquidity provision.
Then there’s Gauntlet USD Alpha, which adds a stablecoin-oriented strategy to the mix.
Together, these three give shYIELD exposure to different return mechanisms and make sure the vault isn’t concentrated around a single protocol or source of yield.
The other vault being introduced is shCORE, which takes a different approach by combining Radiant Prime with Ondo USDY and Sky’s sUSDS.
Ondo USDY here provides exposure to tokenized dollar yield backed by short-term U.S. Treasuries, while Sky’s sUSDS, which is described as a liquid, auto-compounding asset with its rate subject to change over time, provides another on-chain dollar-yield sleeve through the Sky Savings Rate.
Both vaults share Shyft’s underlying vault framework, with shCORE focusing on a more balanced combination of tokenized dollar yield and market-neutral exposure and shYIELD placing greater weight on a broader set of return-generating strategies.
Vault Infrastructure and Reporting
Shyft Finance’s vault framework utilizes on-chain infrastructure for strategy deployment and portfolio visibility.
More specifically, the ERC-4626 vault standard is used by the platform along with multi-role authorization, withdrawal controls, and other operational safeguards.
Now, on-chain activity shows that the shYIELD contract and shCORE contract are already deployed on Ethereum mainnet.
Both these vaults use Ember, which handles permissioning, security, and operational controls behind Shyft’s infrastructure. Notably, Ember’s underlying system has been independently audited.
Once capital is deployed, it will be routed into dedicated strategy accounts as per the defined allocation. The on-chain portions of the strategies can then be tracked through their respective contracts and accounting mechanisms.
Radiant Prime requires a different reporting path, as its trading takes place on CEXs.
Pre-Deposits Are Next
With the inaugural allocations established and the curation framework being finalized with GAP3, shCORE and shYIELD are now approaching their pre-deposit phase.
Shyft will publish access information, final allocation details, and the applicable pre-deposit terms through its official channels as the vaults progress toward opening.
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