Active MM Vaults

Our initial Active MM vault family focuses on actively providing two-sided orderbook liquidity on dYdX:

• dYdX USDC MM Vault (dYdXUSDC)

• dYdX BTC MM Vault (dYdXBTC)

• dYdX ETH MM Vault (dYdXETH)

• dYdX POL MM Vault (dYdXPOL)

The first Axtior Active MM vaults tokenise exposure to professional market making on dYdX, with inventory risk managed through active hedging on:

• Lighter

• Defx

dYdXUSDC deploys USDC directly into the active MM strategy.

dYdXBTC, dYdXETH, and dYdXPOL may supply wBTC/wETH/POL as collateral on Aave, borrow USDC, and use that USDC to subscribe to dYdXUSDC.

Instead of manually:

• Funding dYdX

• Running a market making stack

• Setting quote logic, inventory targets, and risk limits

• Monitoring fills, adverse selection, volatility, and incentives

• Managing hedges and collateral/borrow health (BTC/ETH/POL vaults)

Depositors can hold a single ERC-20 per base asset that abstracts this away while preserving full composability.