Napier Curation

This page serves as a guide for Curators who manage markets and the vertically integrated products built around them within Napier. It provides essential information for creating, managing, integrating, and optimizing markets.

Introduction to Curation

The “curator” concept was first introduced by Morpho as a new type of actor in the DeFi ecosystem. In the Morpho ecosystem, curators play a key intermediary role between vault suppliers and Morpho Markets.

Napier is slightly different. At Napier, a curator is not just a market deployer but an orchestrator between the fast-evolving, fragmented world of DeFi and end users.

Curators translate fragmented DeFi modules into financial packages (Investments) with transparent, stable yield and a simple entry point, enabling safe on-chain participation for users, fintechs, and financial institutions.

Examples of curator platforms by function (DeFi modules):

• Vaults: abstract DeFi complexity and provide a capital entry point (e.g., Veda, IPOR Fusion, Mellow Core Vault, Morpho v2 Basic Vault, Euler Earn, Upshift)

• Lending: borrowing/lending backbone (e.g., Morpho, Euler, Aave v4)

• Yield infrastructure: yield generation, tokenization, and trading (e.g., Napier)

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Curator Responsibilities

Professional curators are emerging in this role. They stand at the intersection of:

• Risk management: design appropriate parameters (maturity, fees, thresholds, etc.) and monitor continuously; throttle, pause, or migrate when needed.

• Packaging: recompose abstract DeFi modules into clear, disclosed product packages with yield and risk discipline.

• Distribution: drive effective distribution through existing business-line channels.

• Entry point: provide transparent, stable yield with a simple on-ramp to support safe participation by users/fintechs/financial institutions.

• Relationship network: communicate in the language of specific sectors (consumer apps, neobanks, family offices, DAOs, etc.).

They launch vaults, spin up lending markets and yield primitives, curate collateral, and communicate in terms end users can understand.

Investment and Unit Economics

At Napier, fragmented DeFi modules spanning multiple curator platforms are recomposed into a single financial package called an Investment.

An Investment is the smallest growth unit of the curator-platform ecosystem. By vertically bundling modules, it simultaneously lifts turnover (Vol/TVL), effective fee rate, and retention.

As a result, per-channel revenue efficiency for curators improves, and end-user benefits also expand.

See Understanding Napier Growth Economics for details.

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Operational Requirements

• Market curation: centralized creation, listing, and updates.

• Capital efficiency: optimize via range settings and rehypothecation policy.

• Performance monitoring: compare effective yield to internal metrics and benchmarks.

• Health management: monitor rehypothecation thresholds and throttle when necessary.

• Risk assessment: asset due diligence, liquidity, and alignment of the resolver/oracle.

• DeFi integrations: assess PT/LP collateral, set up oracles, and design LTVs.

• Role design: separated roles and secure role management (admin/operator/pauser).

• Fees & incentives: adjust fee rates and integrate on-/off-chain incentives.

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Key Differentiations

• Optimized capital efficiency: rebalance logic and implied APY range tuning raise turnover, reduce idle capital, and sustain competitive pricing.

• Fine-grained risk management: operate with accurate market parameters.

• Non-custodial security: ensure transparent operations.

• Vertical stack readiness: a single path into major modules (lending/vaults, etc.).

• Flexible customization: tune parameters to diverse market needs.

• Distribution: leverage existing business-line channels for effective reach.

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Get Started

To become a Curator on Napier, follow these steps in order.

Account verification is required before creating any Market.

1. Verify Account Confirm your address and enable curator privileges.

2. Create Market Set parameters, deploy your Market, allocate LP funds to a vault and start curating.

Once your Market is live, you can:

• Manage Market — Adjust rehypothecations, roles, fees, incentives, and monitor performance.

• Stack with Lending— Collateralize PT or LP tokens to achieve greater capital efficiency.

• Stack with GP Vaults — Transform into a simple, user-friendly financial package.

This guide is continuously updated, and not all DeFi integrations may be covered here. If you have any questions about specific integrations, please contact the team for assistance.