Really happy with how this came out. We've been working with @ipor_io on what institutions actually need from on-chain vaults and the direction of travel is clear: vaults are becoming the default abstraction layer for deploying capital on-chain. From our side, it comes down to a few fundamentals: clear segregation, transparent risk frameworks, robust reporting, and structures that hold up under regulatory scrutiny. Without those, serious allocators can't engage at scale. Lots of iteration in vault design coming over the next 12–18 months. Stay tuned and see you at @vault__Summit twitter.com/jemharris11/status...