Lagoon Review 2026: Curator-Run Vault Infrastructure

Lagoon is an on-chain asset management platform. It gives curators and asset managers the tooling to launch, run and scale vaults, and gives users a place to deposit into them. DefiLlama files it under Onchain Capital Allocator and has tracked it since December 2024.

The homepage cites $161M+ in assets under management, 82+ vaults, 15,000+ unique depositors and $2.6M+ in fees distributed. DefiLlama shows TVL of about $161.2M, up 1.1% over seven days, and lists 22 chains including Ethereum, Arbitrum, Base and Hyperliquid.

Featured vaults on the homepage come from curators such as Tulipa Capital, Gami, 9Summits and DAMM Capital, mostly in the market neutral crypto category. The homepage shows 7-day or 30-day net APRs from about 3% to 10.4%. These are snapshots, not guarantees.

Lagoon provides a vault factory and a standard for building yield products. A curator creates a vault, sets the asset, fees and access rules, and decides how funds are allocated, on-chain or off-chain. Users deposit into the vault and receive a claim on its assets.

Because the vaults follow ERC-7540, deposits and redemptions are asynchronous. A user submits a request, and the curator settles it at a valuation, which is the vault's net asset value (NAV). This suits strategies that cannot always be unwound instantly, such as private credit or off-chain positions.

Custody is the manager's choice. The homepage names Safe, Fordefi and Fireblocks as options. One Google result describes DAMM running non-custodial funds on Lagoon vaults with Safe smart accounts, so funds are deployed only within set on-chain permissions.

Lagoon's own fee schedule is not laid out, though a search result refers to a Lagoon page explaining four fee types. The homepage reports $2.6M+ in fees distributed. Vaults deploy with no upfront fee.

Users should check each vault's page in the Lagoon app for management, performance and any entry or exit fees set by the curator. Network gas costs apply on top.

DefiLlama lists two audits, and the homepage says Lagoon is audited at every release and links to audit reports. The project does not name the auditors or findings, so readers should review the reports. A Google result about the Ethereum vault factory says the transparent proxy is upgradeable, which means admin powers exist and should be understood.

The larger risk is usually the curator. Strategy performance, valuation and custody are managed by third parties, and some vaults use off-chain or credit strategies that carry counterparty risk. Depositors should read each vault's terms. No hacks or incidents are mentioned publicly, but that is not proof none has occurred.

Lagoon fits DeFi users who want exposure to managed strategies such as market neutral or fixed income, and who will research each curator. It also suits asset managers, DAOs and funds that want to launch a vault with configurable custody, access rules and reporting.