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)

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 and dYdXETH may supply wBTC/wETH as collateral on Aave, borrow USDC, and use that USDC as working capital for market making and hedging.

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 vaults)

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

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