Onchain Capital Allocator · Review
ActiveConcrete Review 2026: Curated Yield Vaults and Their Risks
Concrete is an onchain yield platform that runs curated vaults across Ethereum and other chains, with about $1.27B in TVL on DefiLlama. It is large and audited, but the biggest vaults are permissioned and returns are targets, not guarantees.
By the DappsAtlas editorial team · Updated
DappsAtlas score
7.3/10
Good
Our verdict on Concrete
7.3/10Concrete suits DeFi users who want managed stablecoin or WBTC yield without picking strategies themselves, and who are comfortable relying on a curator. Its strengths are large TVL, per-vault audits and policy-controlled wallets. The main caveat is that headline APYs are targets, the largest vaults are permissioned with private returns, and fees are not shown on the homepage. Read each vault's audits and withdrawal terms first.
Score breakdown
How Concrete scores
- Security
- 7.5/10
- Ease of use
- 7.0/10
- Fees
- n/a
- Features
- 7.5/10
Scores run from 0 to 10 and are based only on facts we could verify. Where information was missing we mark the score n/a rather than guess.
What is Concrete?
Concrete is a yield platform that runs curated vaults for DeFi assets. DefiLlama lists it as an Onchain Capital Allocator on Ethereum, Stable, Arbitrum, Berachain and Katana, with roughly $1.27B in TVL and a listing date of February 2025. Its homepage reports about $1.339B in deposits, 53.99K depositors and $24.90B in total volume.
The platform describes itself as full-stack yield infrastructure with automated, risk-managed vaults. The homepage lists vaults for USDT, WBTC, USDC, USD1 and others, with target APYs of 2% to 8.5%. The largest vault by TVL is the WeETH vault at $745M, which is permissioned and shows its APY as private.
There is also a CT token, with claiming and staking available. The homepage shows a CT staking vault with 2.68M CT locked. Concrete has run time-bounded campaigns, including ones on Stable and Arbitrum, which are now completed.
How Concrete works
A Concrete vault takes a single asset such as USDT or WBTC from depositors and gives back a vault token that represents their share. A curator, which is Concrete for most vaults, allocates the pooled funds to yield strategies on partner DeFi protocols. As the strategies earn, the vault token becomes worth more of the underlying asset.
The vault page lists a target APY, which is what the vault aims for and not a promise. Some vaults add points on top. To exit, users go through a withdrawal queue and receive the withdrawal token, such as USDT or CT.
Privileged vault keys sit in policy-controlled wallets from Fordefi or Fireblocks, with approval rules for each onchain action. Some vaults are open and others are permissioned, so access depends on the vault.
7 features
Key features
01
Curated yield vaults
Each vault has its own deposit token, target APY, curator, audit list and withdrawal token. Users pick a vault by asset and risk.
02
Vault tokens
Vaults take USDT, USDC, USD1, WBTC and other assets, and give back a vault token such as ctDefiUSDT or ctWBTC.
03
Policy-controlled wallets
Vault keys are secured through Fordefi or Fireblocks MPC wallets. Roles, approval quorums and transaction policies govern actions.
04
Withdrawal queue
Vaults list a withdrawal queue, so exits may not always be instant. Details are in each vault's page and the documentation.
05
Time-bound campaigns
Some vaults run as time-bounded campaigns and then move to withdraw-only mode in a controlled wind-down. Completed ones are listed on the site.
06
Multi-chain deployment
Vaults run across Ethereum, Arbitrum, Berachain, Katana and Stable, according to DefiLlama.
07
CT token and points
The CT token can be claimed and staked for sCT. Many vaults also earn Concrete Points.
Pros and cons
What we like
- Large TVL of about $1.27B on DefiLlama, with 53.99K depositors reported on the homepage
- Audits from Halborn, Cantina, Code4rena and Zellic are listed per vault
- Vault keys are held in Fordefi or Fireblocks policy-controlled wallets
- Clear vault pages show target APY, curator, vault address, token and withdrawal token
- Several vaults cover stablecoins and WBTC, giving some asset choice
Watch out for
- Several of the largest vaults, including the WeETH vault, are permissioned, so many users cannot join them
- APYs on the largest vaults are listed as private, so returns cannot be checked from the public page
- Advertised APYs are targets, not guaranteed returns, and some depend on points
- Funds are exposed to smart-contract risk and to the strategies and partner protocols the vaults use
- Access is blocked from restricted jurisdictions, and the page does not list which ones
- Fee levels are not published on the homepage, so costs are unclear before depositing
Concrete fees
Fees are not published on its homepage. Concrete does not list deposit, withdrawal, management or performance fees there. Users should check each vault's More section, the documentation and the Terms of Use before depositing.
The APYs shown are targets, and it is not stated whether they are net of fees. Normal Ethereum network gas costs also apply to deposits and withdrawals.
Is Concrete safe?
The homepage lists audits by Halborn, Cantina, Code4rena and Zellic, with the set varying by vault. Not every vault shows the same auditors, and some vaults, such as WLFIcx, list no auditor on the homepage. Vault keys are secured through Fordefi or Fireblocks with approval quorums and transaction policies.
Risks remain. Funds are exposed to smart-contract bugs, strategy and partner-protocol failures, and curator decisions. Withdrawals go through a queue. Concrete blocks access from restricted jurisdictions. No incidents are mentioned publicly, but that is not a guarantee of safety. Only use the official address and start with small amounts.
6 steps
How to get started with Concrete
- 1
Check that your location is allowed under the Terms of Use, since restricted jurisdictions are blocked.
- 2
Open the official Concrete app and read the vault list, comparing asset, target APY, audits and curator.
- 3
Open the More section of the vault you want and read the vault address, audits and withdrawal queue details.
- 4
Check whether the vault is permissioned. If it is, you need approval before you can deposit.
- 5
Connect a wallet and deposit a small amount first, using the asset the vault accepts.
- 6
Keep the vault token you receive, and track the withdrawal process in case you want to exit.
Who Concrete is for
Concrete is for DeFi users who want to deposit stablecoins, WBTC or similar assets into curated vaults and are comfortable with smart-contract and curator risk. It also fits institutional-style users who can join permissioned vaults. It is not suited to anyone who needs guaranteed returns or instant withdrawals.
Concrete FAQs
What is Concrete?
Concrete is a yield infrastructure platform for DeFi. It runs automated, risk-managed vaults that take deposits and allocate them to strategies on partner protocols. DefiLlama classes it as an Onchain Capital Allocator.
What yields does Concrete offer?
Concrete's homepage lists target APYs of 8.5% for the USDT vault, 8% for USDC and USD1 vaults, and 2% for the WBTC vault, some with points on top. These are targets the vaults aim for, not guaranteed returns. The biggest vaults show their APY as private.
Is Concrete audited?
The homepage lists audits by Halborn, Cantina, Code4rena and Zellic, depending on the vault. DefiLlama lists two audits. Audits lower risk but do not remove it, and each vault's own audit list should be checked before depositing.
Which blockchains does Concrete support?
DefiLlama lists Ethereum, Stable, Arbitrum, Berachain and Katana. The vaults shown on the homepage are mostly on Ethereum, with a completed campaign on Stable and another on Arbitrum.
Do I need permission to use Concrete vaults?
Some vaults, such as RWA USD1, WeETH and WLFIcx, are marked as permissioned and need approval to take part. Others, like the USDT, WBTC and USDC vaults, are not marked this way on the homepage.
What is the CT token?
The CT token is described as launched, with claiming on a separate foundation site. Users can stake CT and receive sCT, the vault token for that product. Check the official site for the exact claim address and terms.
Is Concrete available everywhere?
The homepage says access is blocked from restricted jurisdictions, including places under sanctions and others where the services cannot be used. Readers should check the Terms of Use and local rules before connecting a wallet.
Compare
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How we checked
Sources
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