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Thoughts on home equity, financial inclusion, and building the safety net the banking system forgot.

StrategyMay 29, 202611 min read

Driving Morpho's IRM to a Locked 8% APY

Why we're paying ~65% reward APR on a $16K Morpho vault, and why this is a calculated 8-month bet on the AdaptiveCurveIRM, not a desperation play. The match-borrow flywheel, the lock-in event at 90% utilization, and the path to a permanent 8% net depositor APY.

ResearchMarch 9, 202610 min read

42.7% of Foreclosures Didn't Need to Happen

We analyzed 15 years of Florida foreclosure data and found that nearly half of all foreclosed homeowners had enough equity to save their homes — if anyone had let them access it. Each preventable foreclosure destroys $262,000 in household wealth.

Risk AnalysisMarch 7, 202612 min read

The Math Behind Breathing Room: An Actuarial Loss Model

We built an actuarial model to answer the question every vault depositor asks: what's my expected loss? Expected loss analysis for real estate-backed DeFi lending covering PD, LGD, Monte Carlo simulation, and stress testing.

MissionFebruary 16, 20268 min read

The Safety Net You Already Have — But Can't Touch

The job market has stalled. People who did everything right -- bought homes, built equity, saved responsibly -- are falling behind on payments and discovering the banking system has nothing for them. We're building the product that should have existed all along.