CONFIDENTIAL // 2026

Arb Capital.
Real Alpha.

Institutional-grade DeFi yield vaults.

[ 02 ]PROBLEM

DeFi yield is concentrated.
$94B locked. Most of it in silos.

CONCENTRATION

Yield lives in protocol silos

Aave ($27.2B), Morpho ($6.7B), Spark, Fluid, Ajna. Each protocol manages yield independently. Most curators specialise in one. Cross-protocol rotation requires deep expertise in each, and almost no one does it.

COMPRESSED_YIELDS

3–5% stablecoin APY is the floor

Single-protocol strategies cap returns at whatever that protocol offers. Cross-protocol rotation captures the best rate at any given moment. When volatility returns, the infrastructure to capture those yields needs to already be built.

OPPORTUNITY

The multi-protocol gap

Top curators like Steakhouse ($1.53B) and Gauntlet ($1.29B) have proven the model works. But most focus on a single protocol. There's a clear gap for a nimble operator that manages across Morpho, Aave, Ajna, Spark, and Fluid simultaneously.

TIMING

26 curators. $4.4B. Room to grow.

Morpho's curator market is growing 2,000% annually. The top 3 hold 70% share. New entrants with genuine protocol expertise and multi-protocol reach can capture meaningful share in a market that's still forming.

[ 03 ]SOLUTION

MetaVaults. Portfolio managers
for on-chain yield.

METAVAULT_ARCHITECTURE

Deposit once, rotate across all protocols

MetaVaults deposit across lending protocols like Aave, Morpho, Ajna, Spark and Fluid, with more being added. We actively rotate funds to capture the best yield. Built on Euler Earn, audited ERC-4626 standard. Currently live with USDT. USDC, DAI, USDS, AZUSD planned.

PERFORMANCE_FEES

5% core + sub-vault stacking

Core MetaVaults take 5% performance fee. Morpho sub-vaults: additional 5%. Ajna sub-vaults: 10% (active management). Fees stack. The core vault earns aggregate yield from all sub-strategies.

DISTRIBUTION_MOAT

We own the front door, not just the strategy

As a Morpho Curator we're listed where $6.7B in deposits already live. Our Ajna UI (ajna.arb.capital) gives users a clean, simple way to access a complex decentralized protocol, with our vaults featured throughout. Our CTO is one of five people who truly understand Ajna's codebase.

CAPITAL_EFFICIENCY

$1 in incentives = $66–$96 in TVL

Merkl incentive programs consistently deliver 66–96x capital efficiency: Optimism Superfest ($2.25M → $100M+ TVL), Shuffle ($70K → $4.9M), Unichain Launch ($15M → $1.45B peak). Protocol partnerships (Azos Labs, Maker/USDS) provide additional distribution at zero cost.

[ 04 ]MARKET

The yield curation market
is wide open.

DeFi lending alone is $54B. The curator layer managing this capital has just 26 players, growing 2,000% annually. In TradFi there are 15,000+ investment firms. In DeFi curation, there are 26.

TOTAL_DEFI_TVL
$97B
Total DeFi value locked
MORPHO_CURATOR_AUM
$4.4B
26 curators, 2,000% annual growth
DEFI_LENDING_TVL
$54B
Total DeFi lending TVL
TOP_CURATOR
Steakhouse: $1.53B AUM
VALUATION_COMP
Flying Tulip: $1B FDV, $275M+ raised
[ 05 ]PRODUCT

Three layers. One competitive moat.

Not just a yield aggregator. An infrastructure play. Control the UI, control the curation layer, capture the yield.

LAYER_1 — MORPHO_CURATION
Morpho Curator
Listed on Morpho's $6.7B TVL frontend. 5% performance fee. Visible to all Morpho depositors seeking curated risk management.
LAYER_2 — AJNA_UI_CONTROL
We built the alternative UI for Ajna Protocol. No competition. Original auditor knowledge. 10% performance fee on Ajna vaults. AJNA token accumulation via grants.
LAYER_3 — METAVAULT_ROTATION
Audited MetaVaults
ERC-4626 MetaVaults rotate across Aave, Morpho, Ajna, Spark, Fluid. Live with USDT. USDC, DAI, USDS, AZUSD next.
PROTOCOLS
Aave, Morpho, Ajna, Spark, Fluid, and more
CHAINS
Ethereum and EVM compatible L2's
[ 06 ]TRACTION

Already live. Actively building.

VAULTS_DEPLOYED
~20
Live on Ethereum mainnet
ARBCAP_TOKEN
98 Days
Live. 1B supply, fixed, burn-enabled
PARTNERSHIPS

Azos Labs, Morpho, Ajna Grant

Azos Labs partnership for AZUSD on Base. Ajna development grant received and AJNA tokens accumulating. Morpho curator application in progress.

AI_NATIVE_OPS

10x build speed at fraction of cost

AI-native development means we ship faster than teams 10x our size.

REVENUE_MODEL

Cash-flow generating from day one

Performance fees on vault yield. Buy-back-and-burn ARBCAP from revenues. Not speculative paper. Real protocol revenue from day one of TVL.

RELATIONSHIPS

Deep DeFi network

Direct relationships with protocol founders, top-tier curators, and key decision-makers across the DeFi lending ecosystem.

[ 07 ]TEAM

The team VCs bet on.

"You guys are way above the bar for crypto capital allocation." - Michael Tant, CitizenX

Brian McMichael

Brian McMichael

CTO / CO-FOUNDER

Ex Senior Engineer, MakerDAO (2019–2023).
Scaled $0 to $20B TVL.
Original Ajna Protocol auditor.
10+ years open-source blockchain contributions.
ERC-4626 vault specialist.

Jawaad Bokhari

Jawaad Bokhari

CEO / CO-FOUNDER

Ex TradFi quantitative trader.
Board-level strategist, Non-Exec Director at regulated crypto exchange.
AI-native product visionary.

Andi Perlak

Andi Perlak

CFO / CO-FOUNDER

Ex World Bank Treasury operations.
Ex KPMG advisory, 25+ years experience.
CEO Crypto Accounting Group.

[ 08 ]THE_ASK

The Ask.

INVESTMENT

Raising $2.5m to get to ICO

Raising to secure Morpho curator status, scale MetaVaults TVL through incentive campaigns, and complete security audits. Low burn rate. AI-native ops mean we don't need a 20-person team.

TERMS

ARBCAP token. 3-year vest, 1-year cliff.

Direct token allocation with vesting managed on-chain via Sablier. 3-year linear vest with 1-year cliff. Low capital needs, cash-flow generating product.

USE_OF_FUNDS

Audits, Engineering, Distribution

Security audits for vault contracts. Engineering: multi-chain deployment, new vault strategies. TVL growth via Merkl incentives ($1 = $66–$96 TVL). Operations and compliance.

NEXT_STEPS

Schedule a technical deep-dive

We'll walk through the vault architecture live on mainnet, demonstrate MetaVaults rotation mechanics, and review the Ajna UI distribution strategy.

arb.capital