Uploaded January 2026 | Updated September 2026, 2 days ago
This week, we’re joined by John Zettler, Director of Product at Kraken and Sun Raghupathi, Co-founder of Veda, to discuss their collaboration to bring onchain vaults to Kraken! We explore the growth of onchain vaults, how vaults package DeFi lending and yield strategies, vault mechanics, risk management, business models, comparisons to past yield products, and implications for DeFi adoption and future TVL growth. Enjoy!
Resources
2026 Predictions Episode: youtu.be/yagd3CT2VQk?si=G1cFXBpODiWZ-pQR
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Follow John: https://x.com/JohnZettler
Follow Sun: https://x.com/sunandr_
Follow Jason: https://x.com/JasonYanowitz
Follow Empire: twitter.com/theempirepod
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Timestamps:
02:45 What is a vault
09:26 The Evolution of Vaults
14:31 Vault Key Parties
21:49 Vault Business Models
29:14 Building Vaults with Coinbase and Morpho
33:29 Vaults Today vs BlockFi & Celsius
37:42 Bringing Vaults to Kraken
39:55 Determining Yield & Adding More Vaults
41:51 What made Yano Bullish on Vaults
45:52 Behind the Scenes
50:24 Vault Risks
56:37 Morpho's Model vs Veda's Model
57:59 Closing Comments on Vaults and DeFi TVL
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Disclaimer: Nothing said on Empire is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Santiago, Jason, and our guests may hold positions in the companies, funds, or projects discussed.
This week, we’re joined by John Zettler, Director of Product at Kraken and Sun Raghupathi, Co-founder of Veda, to discuss their collaboration to bring onchain vaults to Kraken! We explore the growth of onchain vaults, how vaults package DeFi lending and yield strategies, vault mechanics, risk management, business models, comparisons to past yield products, and implications for DeFi adoption and future TVL growth. Enjoy!
Resources
2026 Predictions Episode: youtu.be/yagd3CT2VQk?si=G1cFXBpODiWZ-pQR
–
Follow John: https://x.com/JohnZettler
Follow Sun: https://x.com/sunandr_
Follow Jason: https://x.com/JasonYanowitz
Follow Empire: twitter.com/theempirepod
–
Timestamps:
02:45 What is a vault
09:26 The Evolution of Vaults
14:31 Vault Key Parties
21:49 Vault Business Models
29:14 Building Vaults with Coinbase and Morpho
33:29 Vaults Today vs BlockFi & Celsius
37:42 Bringing Vaults to Kraken
39:55 Determining Yield & Adding More Vaults
41:51 What made Yano Bullish on Vaults
45:52 Behind the Scenes
50:24 Vault Risks
56:37 Morpho's Model vs Veda's Model
57:59 Closing Comments on Vaults and DeFi TVL
—
Disclaimer: Nothing said on Empire is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Santiago, Jason, and our guests may hold positions in the companies, funds, or projects discussed.
