Axis launches Origin Vault, an onchain arbitrage trading strategy targeting 10-15% APY by executing cross-exchange trades rather than relying on token emissions, with $50M filled in 22 hours.
DeFi & Yields ·
Axis has launched Origin Vault, an onchain arbitrage strategy that filled $50M in 22 hours and raised its deposit cap to $100M. The product accepts USDT or USDC, locks deposits for 30 days, and converts them into USDx and staked sUSDx positions. Rather than relying on token emissions, the vault targets 10-15% APY by executing cross-exchange trades—buying at lower prices and selling at higher ones across different markets and settlement layers.
Axis has operated an offchain arbitrage business for eight years, reporting a 36% annualised return, 4.9 Sharpe ratio, and $400M in peak AUM. The Origin Vault transfers this trading engine onto blockchain, letting users access the same strategy onchain. Early depositors earn 20 Coordinates per dollar per day, with a bonus multiplier that reduced from 2x to 1.75x as the vault approached capacity.
The product carries explicit constraints: capital is illiquid for 30 days, returns fluctuate with strategy performance, and risk exceeds simple stablecoin lending. The vault closes August 5 at 2 PM UTC or when the $100M cap fills, whichever occurs first. Whether the offchain arbitrage model's historical returns translate effectively to onchain conditions, and how strategy performance will vary under real market conditions, remain to be seen.