Our USP Yield Vault joined @brix_money's wiTRY LP program, and it's paying.
~$37K in MEGA rewards hit this week, now reflected in USP's price.
USP weekly APY: 54.11%.
A note from Morini on this week's Turkish market headlines. 🇹🇷
Morini's strategies are operating normally, every position on schedule, and here's why they were insulated from what's been in the news:
→ Our StockMarketTRBasisTrade strategy is delta-neutral: it trades the basis on liquid BIST-30 instruments, not the names at the center of this. There was no price impact.
→ Our CarryTradeUSDTRYLeverage strategy has no equity exposure at all: it earns Turkey's overnight rate and is unrelated to the stock market.
Everything runs inside CMB-regulated funds, within the fund rules — including the stricter rules introduced at the end of August.
Both strategies are transparent and independently verifiable via @PikuFinance, with fresh attestation reports published this week:
→ CarryTrade: piku.vlayer.xyz/dashboard/Ca…
→ BasisTrade: piku.vlayer.xyz/dashboard/Ba…
Turkey's capital markets are deep and resilient, and as the Financial Stability Committee noted, the issue is "concentrated in a specific segment… temporary and manageable." Moments like this reward managers who are disciplined, transparent, and play by the rules.
That is the standard Morini holds itself to and will continue to.
Morini Capital retweeted
The current top ten returns of low-volatility vaults:
1. @atoma_fi cross perp DEX funding arb
2. @hyperithm aHYPER loop
3. @Spiko_finance EU t-bills tokenised money market fund (against the US Dollar, which is down bad)
4. @MoriniCapital Turkish Lira carry
5. @NEMOtradingHQ multistrategy
6. @YuzuMoneyX protection pool
7. @Lighter_xyz LLP market maker (needs staked LIT)
8. Fire Liquidity Provider by @KappaLab_io on @hibachi_xyz
9. Sandbox by @digiassetfund - provides USDC-denominated exposure on Lighter LLP (#7 on this list) without needing to buy and stake LIT yourself
10. @AxisFDN Origin Staked USDX - centralised crypto exchange arbitrage
tradingstrategy.ai/vaults?vo…
Morini Capital retweeted
Alpha USDC Forex V2 is now yielding 8.90% net APY on USDC.
We’re seeing growing demand for CarryTrade loops, and we’re working to increase liquidity to unlock more capacity.
Current 7-Day APYs across the underlying Piku ecosystem:
• CarryTradeUSDTRY: 49.42%
• StockMarketTRBasisTrade: 19.04%
• USP: 13.49%
• FXArbUSDTRY: 12.17%
What’s behind them:
• CarryTradeUSDTRY - supported by a healthier central bank reserve backdrop.
• StockMarketTRBasisTrade - outperforming the stock market thanks to its delta neutrality
• FXArbUSDTRY - has not recorded a negative return period since inception.
• USP - diversified exposure across multiple underlying strategies.
With Alpha USDC Forex V2 currently at 8.90% net APY, we’re also seeing interesting looping opportunities for LPs across supported exposure assets.
More liquidity. More capacity. More ways to put USDC to work.
Explore Alpha USDC Forex V2: app.morpho.org/ethereum/vaul…
Morini Capital retweeted
Morini StockMarketTRBasisTrade is now live on Turtle with additional yield opportunities. 🐢
Current vault metrics on Turtle:
• 21.32% Est. Total APR
• 13.73% Native APY
• 7.59% PIKU incentives
• $5.78M TVL
• Turtle Shells on top
Institutional-style, real-world yield from an emerging market, now accessible on-chain through Turtle.
Deposit:
app.turtle.xyz/discover/mori…
Turtle is integrating @PikuFinance's StockMarketTRBasisTrade Vault: deposit USDC on Ethereum.
Runs on @MidasRWA infrastructure:
• ~15% net USD target
• ~7.6% in PIKU, plus a Turtle-exclusive multiplier
Morini Capital retweeted
Turtle is integrating @PikuFinance's StockMarketTRBasisTrade Vault: deposit USDC on Ethereum.
Runs on @MidasRWA infrastructure:
• ~15% net USD target
• ~7.6% in PIKU, plus a Turtle-exclusive multiplier
Morini Capital retweeted
right now, the senior tranche for the StockMarketTRBasisTrade vault is covered up to 50%
Capital shouldn’t be limited by geography.
Some of the most attractive opportunities in global markets remain difficult to access because of local infrastructure, currencies, and market complexity.
Piku is changing that.
The first regulated basis trade strategy onchain, now tranched by @roycoprotocol.
Discover: piku.co/blog/first-regulated…
Morini Capital retweeted
Capital shouldn’t be limited by geography.
Some of the most attractive opportunities in global markets remain difficult to access because of local infrastructure, currencies, and market complexity.
Piku is changing that.
The first regulated basis trade strategy onchain, now tranched by @roycoprotocol.
Discover: piku.co/blog/first-regulated…
Morini Capital retweeted
Tranching creates opportunities for different risk appetites, excited to work with @roycoprotocol
Morini Capital retweeted
Two months ago, we launched the @MoriniCapital vaults.
Since then:
• $22.9M in Morini Vault TVL
• $31.1M in total ecosystem TVL
• $800K in yield generated
All-time APY by strategy:
• FXArbUSDTRY: 11.24%
• StockMarketTRBasisTrade: 16.11%
• CarryTradeUSDTRYLeverage: 59.62%
And we are just getting started.
More regulated, real-world yield strategies are coming soon:
• Morini StockMarketMXNBasisTrade Vault
• Morini StockMarketINRBasisTrade Vault
Special thanks to @MidasRWA and @AccountableData for their continued support.
Global capital. Local opportunities. Real yield.
piku.co/app
Morini Capital retweeted
Replying to @PikuFinance
@PikuFinance's StockMarketTRBasisTrade is now live on Royco.
Both the equity exposure and the TRY exposure are hedged, making the strategy delta-neutral.
So what Royco is tranching isn't the market risk.
It's the execution risk behind the strategy 👇
Morini StockMarketTRBasisTrade is now live on @roycoprotocol
You can now deposit into the senior and junior tranches of the Morini StockMarketTRBasisTrade strategy.
Delta-neutral.
Regulated.
RWA.
Deposit: royco.org/market/1/0x48fe2f6…
Morini Capital retweeted
Morini StockMarketTRBasisTrade is now live on @roycoprotocol
You can now deposit into the senior and junior tranches of the Morini StockMarketTRBasisTrade strategy.
Delta-neutral.
Regulated.
RWA.
Deposit: royco.org/market/1/0x48fe2f6…
Morini Capital retweeted
🚨 Milestone Alert
TVL: $30.54M
Cumulative Yield: $1.45M
Morini CarryTradeUSDTRYLeverage Vault continues to attract significant attention, currently delivering:
7-Day APY: 103.59%
Explore the vaults and put your stablecoins to work on Piku: piku.co/app
Emerging market yield, brought onchain.
103.59% 7-day APY.
Morini CarryTradeUSDTRYLeverage delivered triple-digit performance.
• FXArbUSDTRY - 6.05% 7-day APY | $3.99M TVL
• StockMarketTRBasisTrade -17.57% | $5.21M TVL
• CarryTradeUSDTRYLeverage - 103.59% | $7.74M TVL
Nearly $17M in total TVL.
All vaults continue earning $PIKU rewards. FXArbUSDTRY also earns ACC Points.
Morini Vaults Weekly Performance (Jul 1 - Jul 8, 2026)
FXArbUSDTRY
5.12% 7-day APY
#deltaneutral
StockMarketTRBasisTrade
9.44% 7-day APY
#deltaneutral #regulated #RWA
CarryTradeUSDTRYLeverage
69.89% 7-day APY
#regulated #RWA
$16.2M total TVL across three yield strategies.
Regulated, Delta Neutral, RWA.
Accessible on-chain: piku.co/vaults
Morini Capital retweeted
Morini CarryTradeUSDTRYLeverage is delivering 74.97% 30 Day APY, giving DeFi users access to a regulated Turkish Lira leveraged carry trade strategy that captures the overnight interest rate of Turkish Lira and trades the mispricing of USD TRY futures.
Explore the vault: piku.co/vaults/detail/CarryT…
Nearly one month since launch, Morini Vaults continue to deliver strong weekly performance.
FXArbUSDTRY:
10.50% 7-day APY
#deltaneutral
StockMarketTRBasisTrade:
18.20% 7-day APY
#deltaneutral #regulated #RWA
CarryTradeUSDTRYLeverage:
62.96% 7-day APY
#regulated #RWA
$15M total TVL across three yield strategies.
Access differentiated real-world yield opportunities on-chain: piku.co/vaults

























