XLM exposure, ASPERN

⌘K

Live evidencecounted 16m ago

1.37days of PURR volume to unwind the crowd98%of the XMR book on one side, across 26 vaults$1.72Bunder one key with no guardian, 103 of the 492 vaults whose control we have read$230.6Mwhose control we have never read, across 3,359 vaults$2.07Bsitting in vaults and not lent out$11.82Bunder 3,851 vaults we read$4.70Bin 335 vaults where we saw automated execution, nothing declared2,240vaults declared or on a venue built to run software, holding $993.2k337software-run vaults scored, 13% of them456operators identified behind them26networks where we read capital, from Ethereum to Cardano32,279,724deposits and withdrawals read from chain177changes recorded in the last day1,663,957ERC-8004 agent registrations read+11.75/ 30 days1,410,062distinct owners behind those registrations204,921registrations carrying a readable card, 12%3,415,908paid requests on the Olas rail (deliveries are counted apart)−0.33/ 30 days98suppliers delivering that work413,223agent-to-agent jobs read on Base−0.16/ 30 days$1.0Msettled between agents, all time1,177suppliers listed on the ACP rail187agents live on Cardano78Cardano agents deregistered, 29% of all ever minted29,885escrows between Cardano agents since Jun 2025, 156 still open73%of every agent payment we read comes from 3,467 addresses that never stop359,867addresses paid once and never came back, of 625,585 that ever paid7,536of those payers are an agent we can name, 1.205% of them345agent hosts answered when we asked, of 2,611 probed17,116agents sit behind a host that answers nothing at all433msmedian answer from the 707 hosts that answer38%of all agent ratings were written by ten addresses, of 810,466 ratings read145,064rated agents have exactly one rater, of 163,290 rated at all135,313service endpoints declared across 59,506 agent cards we read1.37days of PURR volume to unwind the crowd98%of the XMR book on one side, across 26 vaults$1.72Bunder one key with no guardian, 103 of the 492 vaults whose control we have read$230.6Mwhose control we have never read, across 3,359 vaults$2.07Bsitting in vaults and not lent out$11.82Bunder 3,851 vaults we read$4.70Bin 335 vaults where we saw automated execution, nothing declared2,240vaults declared or on a venue built to run software, holding $993.2k337software-run vaults scored, 13% of them456operators identified behind them26networks where we read capital, from Ethereum to Cardano32,279,724deposits and withdrawals read from chain177changes recorded in the last day1,663,957ERC-8004 agent registrations read+11.75/ 30 days1,410,062distinct owners behind those registrations204,921registrations carrying a readable card, 12%3,415,908paid requests on the Olas rail (deliveries are counted apart)−0.33/ 30 days98suppliers delivering that work413,223agent-to-agent jobs read on Base−0.16/ 30 days$1.0Msettled between agents, all time1,177suppliers listed on the ACP rail187agents live on Cardano78Cardano agents deregistered, 29% of all ever minted29,885escrows between Cardano agents since Jun 2025, 156 still open73%of every agent payment we read comes from 3,467 addresses that never stop359,867addresses paid once and never came back, of 625,585 that ever paid7,536of those payers are an agent we can name, 1.205% of them345agent hosts answered when we asked, of 2,611 probed17,116agents sit behind a host that answers nothing at all433msmedian answer from the 707 hosts that answer38%of all agent ratings were written by ten addresses, of 810,466 ratings read145,064rated agents have exactly one rater, of 163,290 rated at all135,313service endpoints declared across 59,506 agent cards we read

Crowding

XLMshared exposure

Every vault we can see holding XLM right now, largest first. If the position is one-sided and material, these do not unwind one at a time, they unwind together, through the same liquidity.

← All instruments

Vaults

12 machine-managed

Gross

$946.3k

longs and shorts added

Net

$763.5k

10 long · 11 short

Directional skew

81%

100% = all one side

Venue open interest

$12.18M

XLM equivalent

5,629,188

0.0160% of supply, as futures, not coins

Our coverage

7.77%

of open interest on hyperliquid

Which way the money leans

Net $763.5k long, 81% one-sided

Long$854.9k · 10 vaults · 90%

Short$91.4k · 11 vaults · 10%

Who is holding it

99% of this exposure is machine-managed

Machine-managed$934.3k · 12 vaults · 99%

Human or unidentified$12.0k · 9 vaults · 1%

Machine-managed means we have evidence that software rather than a person decides, platform membership, execution timing, or both. Everything else sits in the second bar, including vaults that may well be automated but have not given us enough to say so.

Each block is one vault, sized by position. Hover for detail, click to open it. Bar widths are shares of the total we observe, not of the market, which is far larger.

Who holds it

#	Vault	Platform	Network	Operator	Autonomy	Side	Notional	Share	Entry	Unrealised	Leverage
1	[ Systemic Strategies ] L/S Grids0x07fd993f…689d	Hyperliquid	Hyperliquid	Systemic Strategies	likely	long	$753.5k	79.6%	0.200251	-$140.9k	5x
2	Edge & Hedge0x060d01aa…3b04