Background
Flowmark is a RWA-specialist curator bringing institutional asset management and infrastructure expertise directly to on-chain infrastructure, with a team that comes from asset management and research backgrounds across rates, credit, infrastructure, equity, and cash-equivalent instruments.
Our role as a curator is to design, parameterize, and structure allocations to alternative lending markets so on-chain investors can access RWA-backed yield through clear, auditable on-chain programs.
Instead of going straight into yield optimization, our work starts from bottom-up analysis of structures, cash flows, covenants, collateral, and legal frameworks, rather than simply chasing headline yield.
Flowmark serves allocators who want RWA-backed yield without building an underwriting stack in-house — DAOs, protocol treasuries, institutional allocators, and on-chain users seeking exposure within a defined risk framework.
In RWA and credit strategies, the harder problem is usually not finding yield. It is aligning asset duration with capital commitment horizons, and aligning the liquidity behavior of underlying assets under stress with the day-to-day expectations of on-chain users.
Our approach is to solve the liquidity dimension first, then optimize for yield within that constraint. Each vault setup is designed with clearly defined risk parameters and collateral requirements so users can understand how capital is deployed and what risk envelope the strategy is targeting.
Strategy and Vault Mechanics
Vault Structure
Vaults accept stablecoin deposits and allocate to Morpho markets where the collateral is a qualifying RWA token. Depositors earn yield generated by borrowing demand from users seeking liquidity against their tokenized holdings.
Eligible collateral is selected based on the nature of the underlying assets, their historical volatility profile, and the quality of their oracle and liquidity infrastructure. Where appropriate, vaults can also allocate to markets with blue-chip crypto collateral to support utilization during periods of softer RWA borrowing demand.
Asset Selection and Underwriting
RWA exposures considered for our vaults generally fall within short-duration fixed-income categories, such as trade receivables and supply chain finance pools with diversified obligors and short effective duration, and fixed-income funds with diversified holdings and short effective duration.
The underwriting process covers issuer quality and counterparty risk; seniority, credit enhancement, guarantees, and collateralization frameworks; and legal and enforcement considerations, including jurisdiction and documentation standards. The goal is to keep the duration of underlying exposures aligned with depositor commitments, so that structural liquidity mismatch is minimized and it is reasonably clear when capital is working and when it is available.
Risk Framework
The risk framework applied across vaults includes:
• Concentration limits by asset type, issuer, sector, and structure.
• Defined risk parameters for eligible collateral and vault deployment.
• Ongoing monitoring of utilization, liquidity conditions, oracle integrity, and collateral behavior.
• Adjustment of caps and parameters as the ecosystem matures and liquidity deepens.
These parameters are intended to be transparent enough that governance participants can evaluate the strategy through observable market behavior rather than through narrative alone.
Contact
Resources
Contact Us
jj@flowmark.xyz