Wintermute launches Armitage vaults on Morpho

Wintermute has launched Armitage, a vault curation platform on the Morpho lending protocol. The initial deployment includes two USDC-denominated vaults that are live onchain. Wintermute says its trading network processes more than $10 billion in average daily volume across over 70 venues and 10 blockchain networks, and that network will support Armitage operations.

Armitage will actively manage lending positions by allocating capital, selecting collateral, adjusting risk parameters and rebalancing positions in real time. The vaults are permissionless and non-custodial: users can deposit or withdraw funds directly onchain without identity verification and interact with smart contracts.

The platform is designed to execute liquidations through Wintermute’s internal infrastructure instead of outsourcing them to third-party operators. Wintermute says direct execution and access to multiple trading venues and chains will aid in managing volatile collateral and carrying out cross-market hedges.

Igor Igamberdiev, Wintermute’s head of research, described Armitage as “Yield aggregation brought DeFi vaults into the mainstream, but curation has largely meant setting risk parameters and managing business relationships. Armitage is what you get with deep expertise in onchain capital management and security.”

Morpho framed the launch as part of a growing set of specialized vault curators. Paul Frambot, Morpho’s chief executive, commented that each new curator brings new strategies, depositors and borrower demand, and that Wintermute’s participation accelerates that process.

Wintermute plans to extend Armitage across additional blockchains and lending protocols and to add more vaults and asset types over time. The company has previously operated as a market maker and trading operator in crypto; Armitage represents a productized service that applies its trading and risk infrastructure to decentralized lending.