Citrea announced the launch of the cBTC Earn Vault, presented as the first vault for BTC with minimal reliance on trusted third parties.
Citrea’s proposal allows Bitcoin holders to generate yields directly in BTC without needing to convert their assets into stablecoins or secondary assets. The vault projects an approximate annual return of 10%, combining Noon Capital‘s base strategy with CTR incentives distributed through Merkl.
The product relies on the infrastructure of Clementine, the bridge that powers cBTC and has processed more than 190 BTC in volume since its mainnet launch, while cBTC accumulates more than $65 million in total volume.
Vault curation will be handled by Clearstar Labs, a Swiss firm specializing in institutional risk management, which will deploy capital through a carry trade operation: cBTC as collateral in Morpho‘s ctUSD vault to borrow ctUSD and capture the yield differential. The user interface is provided by Upshift.
Citrea also outlined its next steps: integrating the vault into neobanks and fintech applications, and extending privacy features so that users can deposit without linking their deposit address to their on-chain position, a line of development that advances following the acquisition of Crest.
Source: https://www.blog.citrea.xyz/announcing-cbtc-earn-vault-first-trust-minimized-btc-vault/
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