Theoriq is a DeFi strategy curator for tokenized assets: its curator team sets the strategy and risk limits, and AI-assisted systems execute and monitor within them. That model now runs in production across two live vaults. AlphaVault ETH, the flagship, applies it to ETH-native yield, generating returns from relative value opportunities, funding dislocations, cross-venue credit spreads, and USD carry rather than directional exposure. Theoriq Gold Vault extends it to tokenized gold, holding XAUt as collateral, borrowing stablecoins against it within conservative limits, and deploying the liquidity across lending and yield venues, with returns denominated and compounding in gold terms.

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Both vaults run continuously. Positions are sized, rebalanced, and defended across venues and chains as conditions change, and every action is executed programmatically. In the quarter ending June 30, 2026, that process delivered a 4.85% Q2 net APY for AlphaVault ETH — which has yet to print a negative month in 2026 — and a 3.92% Q2 net APY, in gold terms, for Theoriq Gold Vault in its first full quarter of operation. Those results were earned in one of the most hostile stretches for onchain credit in recent quarters, through the deleveraging that followed the rsETH dislocation.

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How does Theoriq make that cadence safe across two vaults, two denominations, and a growing set of venues, and where does Fordefi come in? The answer is a validation framework that treats every signature as earned rather than assumed, and a partnership that deepened materially over the quarter. Together, they are what make tokenized real world assets productive on-chain without loosening institutional-grade controls.

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The execution problem

Running curated vaults on-chain creates a problem most custody tools were never designed to solve. Theoriq's investment process requires programmatic execution, and assisted automation outscales manual signing alone at the cadence of active on-chain risk management. At the same time, the strategy cannot depend on a private key sitting on a server. A single exposed key, or a blind signature on an opaque transaction, would undermine the entire risk framework.

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The problem compounds as the vault lineup grows. AlphaVault ETH alone actively utilizes infrastructure across Aave, Morpho, and Euler deployments on mainnet, Plasma, Monad, and HyperEVM; Theoriq Gold Vault allocates dynamically across Aave Mainnet, Aave Plasma, Morpho Mainnet, Euler on Monad, and Feather on Celo. Every one of those venues, on every one of those chains, needs the same execution guarantees.

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Theoriq needed an execution layer that could sign programmatically, enforce rules cryptographically before any signature was released, and leave a complete record of every action, without any single actor holding unilateral control over vault capital.

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How a transaction earns its signature

The center of this story is Theoriq's proprietary multi-layer execution validation framework, deployed and refined across both AlphaVault ETH and Theoriq Gold Vault through the second quarter. Every proposed transaction, in either vault, must clear multiple independent layers of verification before execution. Fordefi is the layer that completes the sequence.

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Layer 1: TEE consensus

‍A network of Trusted Execution Environments independently evaluates each proposed transaction. At least two-thirds validator consensus is required before a transaction can move toward deployment. Within the validator environments, transactions are first checked against a frozen policy set at runtime: anything outside the trusted policy is rejected by default, and an attempt to alter the policy degrades attestations and breaks consensus among the nodes. This means no single node, and no single point of compromise, can push an action forward on its own.

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Layer 2: Fork simulation

‍Transactions are simulated on forked environments that replicate the portfolio's current state. The expected impact on collateral balances, debt levels, liquidity positions, and exposures is validated before deployment, rather than discovered after it.

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Layer 3: Portfolio checks

‍Custom verification logic evaluates the portfolio state before and after the proposed transaction, using internally maintained oracle and accounting systems. These checks include Net Asset Value verification before and after execution, Health Factor and leverage monitoring across supported lending venues, collateralization and borrowing constraint validation, strategy-specific risk parameters and allocation limits, and custom portfolio rules defined by the investment process.

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Layer 4: Fordefi execution

‍Once a transaction has cleared the prior layers, the callback data is integrated with the Fordefi execution stack, and deployment proceeds with a full audit trail intact. Fordefi's policy engine applies its own rules at this stage, a final and independent check before any signature is released.

These controls operate in addition to the native safeguards already provided by Fordefi and the underlying protocols. The result is a chain of independent verifications in which the AI-assisted systems run the signals and the checks, but do not move capital on their own.

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Why Fordefi

Fordefi is the MPC custody, signing, and execution infrastructure beneath both Theoriq vaults, and the layer that makes the framework enforceable rather than advisory. Its multi-party computation splits key material so the private key never exists in full at any point, with the server share running inside AWS Nitro Secure Enclaves. Its policy engine screens every outgoing transaction against protocol, action, and amount limits before a signature is eligible to be released, and decodes and simulates each call so nothing is signed blind. Theoriq's upstream layers decide whether an action is correct. Fordefi decides whether it is permitted, and enforces that decision cryptographically at the moment of signing. The same boundary binds Theoriq's own team: no policy permits curators to withdraw depositor funds, and no signature can be produced outside policy.

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The same integration carries the automation, and the automation goes well beyond signing. Fordefi's API Signer and webhook model let Theoriq create, validate, and sign transactions programmatically, with no manual key handling in the execution path. In AlphaVault ETH, Fordefi callback data feeds directly into the validator environments, enabling portfolio-specific validation of pre- and post-transaction states — the flows that let the vault dynamically reallocate capital and optimize collateral at the portfolio level across a fragmented lending landscape. In Theoriq Gold Vault, automated deleveraging infrastructure integrated through Fordefi keeps collateral utilization efficient within the vault's conservative 62–65% target loan-to-value range, defending positions automatically as conditions change.

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Capital deploys dynamically across every venue in both vaults' universes, with multiple chains supported. Every venue operates inside the same validation framework from day one.

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A partnership that deepened through the quarter

What began as an infrastructure integration has become a working collaboration between the two teams. Over the second quarter, Theoriq and Fordefi worked increasingly closely on the validation architecture itself — tightening the loop between Theoriq's TEE-based checks and Fordefi's policy enforcement, extending automated flows like the Gold Vault's deleveraging infrastructure, and standing up new venues and chains inside the same guardrails rather than around them.

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The results showed up where they matter: in security posture and operational efficiency. Every transaction executed by either vault during the quarter cleared the full validation sequence, from TEE consensus through policy-enforced signing, with a complete audit trail and no centralized private key exposure. And the quarter was a genuine stress test. The rsETH aftermath compressed carry, thinned liquidity, and punished leverage across DeFi — and the combined framework held while both vaults compounded positive returns every single month. For LPs, that is the point: a vault architecture that gets more robust, not more fragile, as automation and scale increase.

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Proof in production

Q2 2026 put the framework through a full quarter across two vaults. AlphaVault ETH compounded +1.20% for the quarter, a 4.85% net APY, bringing year-to-date performance to approximately +1.98% with no negative month in 2026 and peak quarterly TVL of 565.37 ETH. Theoriq Gold Vault, in its first full quarter, returned +0.97%, a 3.92% net APY in gold terms, with every month positive and each stronger than the last. In both vaults, every transaction executed cleared the full validation sequence across lending and yield venues on multiple chains.

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Performance figures are net of fees, denominated in ETH and gold (XAUt) terms respectively, and sourced from infinity.theoriq.ai as of June 30, 2026, per the AlphaVault ETH and Theoriq Gold Vault Q2 2026 Portfolio Performance Updates.

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Theoriq's curators set the strategy and the risk limits. This system of checks, balances, and verification ensures every action stays within them. The strategies will evolve, but the requirement that every transaction prove itself before it signs will persist.

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More than infrastructure: what comes next

Theoriq's vault lineup is expanding, and its research pipeline is increasingly oriented toward tokenized real world assets. Institutional-grade, USD-denominated protocols and RWA-backed opportunities are already under active evaluation across both vaults. New RWA vaults are in production planning, with more to share soon.

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As that expansion accelerates, Theoriq views Fordefi not as a vendor but as a close partner in the build. Policy-enforced MPC execution is more than plumbing: for allocators and institutions evaluating where to place capital, it is a visible, verifiable answer to the first question they ask. That makes it a differentiator in go-to-market and distribution, not just in operations, but a credential Theoriq can put in front of every counterparty as vault production and business growth scale.

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The RWA curator's checklist

Competing as a curator in the RWA space demands more than strategy performance. It demands an institutional trust stack, and battle-tested execution and custody infrastructure is a crucial, non-negotiable component. Fordefi provides that component today, proven in production across two vaults during a full quarter of adversarial market conditions.

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Theoriq intends to assemble the rest of the stack the same way: through deep partnerships with best-in-class providers rather than in-house shortcuts. The firm is actively seeking similar partnerships to address the full set of concerns institutional LPs bring to tokenized assets — custody, onchain monitoring, risk detection, insurance coverage, privacy needs, and KYC/KYB and other compliance requirements. Partners who, like Fordefi, treat these as security and trust problems rather than checkbox exercises are invited to reach out.

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“Theoriq represents the kind of on-chain operation we built Fordefi for: a team that treats execution as a security problem, not just a speed problem. Their validation framework and our policy-enforced MPC signing fit together cleanly, giving their curators programmatic execution that can never step outside the rules they define.”

— Josh Schwartz, Co-Founder and CEO, Fordefi

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About Theoriq

Theoriq is a DeFi strategy curator for tokenized assets. It operates the curation layer that turns tokenized assets into risk-managed on-chain yield. Theoriq's curation team sets the strategy and the risk limits, and AI-assisted systems execute and monitor within them. Every strategy and every position is set and approved by humans. Automation handles monitoring, execution validation, and defensive risk response inside policy. Its flagship vault, AlphaVault ETH, applies this framework to ETH-native yield, and Theoriq Gold Vault extends it to tokenized gold, with returns denominated and compounding in gold terms. For more information, visit theoriq.ai or get in touch through email business@theoriq.ai

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About Fordefi 

Fordefi is the leading self-custody platform purpose-built for on-chain finance. We enable institutions to execute any on-chain strategy by providing the tools to connect, understand, and approve transactions that meet an organization's policies and controls.