Treasury allocation case study . prepared for Dialectic . 30 May 2026
A full $25M allocation across the DeFi USD-yield universe, paired with an 18-page due diligence on the largest credit position. Sized by risk-adjusted return on a six-lens framework.
01 . Allocation explorer
Hover any slice for detail. Toggle Base vs Enhanced to swap the Maple satellite for the leverage loop.
02 . Yield scenarios
Per-venue forward sigma shocked up or down, recomputed into portfolio APY and per-venue contribution.
03 . Six-lens risk decomposition
Six lenses scored 1 (low) to 5 (high). Weighted composite drives the tier cap. Framework extends Dialectic Chronograph with Liquidity as a 6th lens.
04 . Live simulators
Monte Carlo on the left for the forward view. Twelve-month backtest on the right showing how current weights would have performed over the trailing year.
1,500 paths, AR(1) rho 0.7, with annual Bernoulli tail events. Slide to scale per-venue forward sigma.
Portfolio at current weights, compounded monthly, net of cost drag. Benchmark is US 3M T-bill at 3.60% APY.
05 . syrupUSDC due diligence . brief
15% NAV, $3.75M, the largest single tail. Full 18-page DD below covers mechanism, contract roster, audit history, stress evidence.
Trail of Bits, Spearbit/Cantina, Three Sigma, 0xMacro, Sherlock, Dedaub, Sigma Prime. Continuous post-deployment cadence. $500k Immunefi bounty active.
9 margin calls cured in under 3 hours. Zero liquidations. Zero lender losses. $67M of withdrawals processed instantly. Two consecutive days of net inflows after.
$1.35B loans against $2.02B of collateral. $430.52M idle liquidity. Top 6 loans BTC- or XRP-backed at 127% to 193% collateralisation.
SC 2 . Economic 4 . Governance 3 . Oracle 2 . Liquidity 3 . Bridging 1. Off-chain underwriting by Maple Direct is the source of Economic 4.
06 . Deliverables