# Managed Vaults

We're taking applications for capital managers to launch any number of their own vaults.&#x20;

### Why manage vaults with Defx

* **Existing DeFi + Perps:** you can build strategies that interact with AMMs, LSTs, lending protocols, and use perps (Defx, Lighter, and HyperLiquid) to create unique structured products
* **Get USD and crypto TVL:** create strategies that manage BTC, ETH, LSTs, and USDC
* **Composable with existing DeFi:** include your yield bearing tokens within Morpho/Superform vaults you manage
* **Distribution:** access to customer distribution and ability to manage capital premissionlessly
* **Technology:** clear separation between protocol risk and your strategy risk

You focus on generating risk-adjusted returns; the protocol handles the plumbing.

If this is a good fit for you, apply here: <https://forms.gle/vTHattoPck6DxPRp6>

### What makes a good vault manager

* Treat risk limits as hard rails, not suggestions
* Build and maintain robust execution and monitoring infra
* Design strategies that degrade gracefully in stress, rather than all or nothing
* Are willing to wind down or pivot when the edge decays

### **Approval criteria**

* Clear description of the strategy and its edge
* A demonstrable track record of successfully executing the strategy, or equivalent relevant experience
* Defined risk profile:
  * Max leverage, max single-asset exposure, max drawdown, scenario assumptions
* Operational details:
  * How trades are executed, failover plans, monitoring
