Onchain Capital Allocator · Review
ActiveVeda Review 2026: Vault Infrastructure Behind Major Earn Products
Veda is a vault infrastructure platform that lets exchanges, wallets and protocols offer yield products to their users. It has about $1.79 billion in TVL on DefiLlama, but it is built for businesses rather than retail depositors.
By the DappsAtlas editorial team · Updated
DappsAtlas score
7.6/10
Good
Our verdict on Veda
7.6/10Veda suits businesses such as exchanges, wallets and asset issuers that want to add a yield product without building vault infrastructure, and it suits DeFi users who want to understand what powers large vaults like ether.fi Liquid. Its main strength is scale and named adoption, with roughly $1.79 billion in TVL across 13 chains. The main caveat is that fees are not published, and the yield depends on layered strategies and partner products, so each vault needs its own due diligence.
Score breakdown
How Veda scores
- Security
- 7.5/10
- Ease of use
- 6.5/10
- Fees
- n/a
- Features
- n/a
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 Veda?
Veda is a DeFi vault platform that helps crypto applications, asset issuers and protocols build yield products. DefiLlama describes it as powering large vault products including ether.fi Liquid, Lombard DeFi Vault and Mantle cmETH. It is listed under Onchain Capital Allocator.
The homepage pitches Veda as the infrastructure layer for Earn. It targets neobanks and exchanges that want users' idle balances to earn yield. Named customers and ecosystem partners include Kraken, MetaMask, Plasma and ether.fi. Veda describes itself as having more than $32B in total deposits, more than $100M in yield generated and more than 300k users. These are the company's own figures.
DefiLlama shows about $1.79 billion in TVL, down 1.4% over seven days, across 13 chains. It has been listed since February 2025 and has no native token. Veda also appears in a blog post about a proposed legal framework for DeFi alongside Aave Labs and the Kamino Foundation.
How Veda works
Veda is infrastructure for yield vaults. A partner such as an exchange, wallet or asset issuer connects its users' balances to Veda vaults. Users deposit assets, and the vault allocates them into strategies. Per the homepage, these include tokenized treasuries, institutional credit and onchain lending markets.
Veda handles the back-end work: yield sourcing, liquidity, risk management, monitoring and operations. The partner keeps the user relationship and can earn a share of the yield. An operator console provides analytics and lets teams do things like rebalancing.
The vaults are described as cross-chain, so one product can reach assets and strategies across several networks. Returns are not fixed. They depend on the underlying markets, and users carry the risks of those strategies as well as the vault contracts.
6 features
Key features
01
Earn infrastructure layer
Veda supplies the yield, liquidity, risk, monitoring and operations layer so a business can add an Earn product without building its own infrastructure.
02
Cross-chain vaults
Vaults are designed to run strategies across multiple networks, with DefiLlama listing 13 chains.
03
Earn Console
The Earn Console lets operators monitor performance, view analytics and handle daily tasks such as rebalancing from one place.
04
Partner revenue share
Partners can capture a share of the yield generated through their Earn product, which creates a revenue line for them.
05
Real-world asset exposure
The homepage describes access to tokenized treasuries, institutional credit and onchain lending markets as yield sources.
06
Expandable asset and strategy set
Partners can add new assets, strategies and vaults over time without rebuilding infrastructure each time.
Pros and cons
What we like
- Powers several large named vault products, including ether.fi Liquid, Lombard DeFi Vault and Mantle cmETH
- About $1.79 billion in TVL on DefiLlama across 13 chains
- Named partners include Kraken, MetaMask and Plasma, which signals institutional-scale use
- Two audits listed on DefiLlama, with a security page covering audits and a bug bounty
- Gives partners operational tooling, including a console for analytics and rebalancing
- Engages on regulatory clarity, having co-authored a proposed legal framework for DeFi
Watch out for
- Built for businesses, so there is no obvious self-serve product for individual users to evaluate directly
- Fee structure is not published publicly, so end-user costs and revenue share terms are unclear
- Yield depends on strategies, lending markets, tokenized assets and other protocols, which adds layered smart-contract and counterparty risk
- Concentration risk: a large share of volume comes from a few big partners such as ether.fi, Kraken and Lombard
- Homepage figures like total deposits and users are self-reported and differ in scope from the DefiLlama TVL
- No native token, so there is no governance or incentive layer for outside participants
Veda fees
Veda's fees are not published. The homepage says partners can capture a share of the yield generated through their Earn product, so costs likely sit at the vault or partner level.
Anyone considering a Veda-powered product should check the fee terms on the specific vault or the partner's Earn page, including any performance fee, management fee or withdrawal cost, plus the network gas fees on the chain used.
Is Veda safe?
DefiLlama lists two audits for Veda, and the company's site links to a security page covering audits and a bug bounty. The project does not include audit firm names, findings or any incident history, so readers should review those on Veda's security page.
Vault products carry layered risk. Funds are exposed to the vault contracts, the underlying lending markets or tokenized assets, and the partner that runs the front end. Tokenized treasuries and institutional credit add issuer and counterparty risk. Regulatory treatment of DeFi yield products is still developing, and Veda has publicly engaged on that topic. Nothing here is financial advice.
6 steps
How to get started with Veda
- 1
Decide whether you are a business wanting to offer Earn or an individual wanting to use a Veda-powered vault.
- 2
If you are an individual, find a partner product that uses Veda, such as a vault or Earn feature from an exchange or wallet, and read its terms.
- 3
Review the vault's strategy, underlying assets, chain, fees and any withdrawal limits before depositing.
- 4
Check the audits and bug bounty details linked on Veda's security page.
- 5
If you are a business, book an intro call or request a product brief through the Veda site to scope an Earn product.
- 6
Start with a small amount and monitor performance and withdrawals before committing more.
Who Veda is for
Veda is mainly for exchanges, neobanks, wallets, asset issuers and protocols that want to offer Earn. Individual DeFi users can also benefit by using Veda-powered vaults through partner products, provided they check each vault's strategy, fees and risks first.
Veda FAQs
What is Veda?
Veda is a DeFi vault platform that lets crypto applications, asset issuers and protocols build cross-chain yield products. Companies integrate it so their users can earn yield on balances they already hold. DefiLlama lists it as an Onchain Capital Allocator.
Who uses Veda?
Most users meet Veda through a partner product rather than directly. Public sources name ether.fi Liquid, Lombard DeFi Vault and Mantle cmETH as vault products powered by Veda, and the homepage names Kraken, MetaMask and Plasma as customers or ecosystem partners.
Does Veda have a token?
No. DefiLlama lists the token as none, and the project does not mention a Veda token.
Which blockchains does Veda support?
DefiLlama lists Ink, Ethereum, Optimism, Monad, Hyperliquid, Plasma, Arbitrum, Base, Berachain, Sonic, BNB Chain, BOB and Scroll. Which chains a given vault uses depends on that vault.
Is Veda safe?
DefiLlama shows two audits listed, and the homepage links to a security page with audits and a bug bounty. That does not remove risk. Vault strategies rely on other protocols and assets, so smart-contract, liquidity and counterparty risks remain.
What are Veda's fees?
The project does not publish fees. Fees are likely set per vault or per partner integration. Check the specific partner product or vault documentation for management, performance or withdrawal terms before depositing.
Compare
Veda alternatives
Concrete is an onchain yield platform running curated, audited vaults on Ethereum and other chains, aimed at DeFi depositors seeking managed yield.
Lagoon is ERC-7540 vault infrastructure where curators run on-chain yield strategies and users deposit into public vaults across many chains.
Upshift is a multi-chain vault platform where third-party strategists run onchain yield strategies for stablecoin, BTC, ETH and XRP deposits.
Spark Liquidity Layer automates deployment of Sky's USDS, sUSDS and USDC across chains, DeFi and real-world assets for institutions and Spark products.
Makina is vault infrastructure that lets professional Operators run onchain yield strategies, while depositors keep custody of their assets.
ether.fi Liquid is an automated Ethereum strategy vault that lets ether.fi users deploy eETH across DeFi, with about $405M TVL.
Same category
More Onchain Capital Allocators
Neutral Trade is a marketplace of on-chain quant strategy vaults run by KYB-verified trading firms, open to depositors from $100.
Aera V3 is a Gauntlet-built onchain treasury management protocol that lets DAOs run automated vault strategies across Ethereum and several L2s.
Lombard Vaults is Lombard's Bitcoin Earn product, splitting BTC deposits across isolated sub-vaults run by independent managers for BTC-denominated yield.
Aera V2 is a Gauntlet-built onchain treasury protocol offering non-custodial, guardian-managed vault strategies for DAOs and protocol treasuries.
YieldNest is a liquid restaking and yield protocol on Ethereum and BNB Chain that bundles DeFi strategies into single MAX vault tokens for yield seekers.
D2 Finance runs actively managed derivatives strategies in ERC4626 vaults across several chains, for users wanting fund-style on-chain exposure.
Same chain
More on Ink
Uniswap V4 is the latest Uniswap DEX version with hooks and concentrated liquidity, running on 22 chains for self-custody token swaps and liquidity provision.
Uniswap V3 is a non-custodial decentralized exchange protocol for token swaps and concentrated liquidity provision across 40+ chains.
LayerZero V2 is a cross-chain messaging protocol and bridge infrastructure for developers and asset issuers, connecting dozens of blockchains.
Morpho Blue is a permissionless lending primitive with about $11.4 billion in TVL on DefiLlama, accessed mainly through curated vaults.
Uniswap V2 is a non-custodial automated market maker DEX on 17 chains for token swaps and liquidity provision, with about $938M TVL.
Across is an intent-based cross-chain bridge and swap protocol for moving tokens between Ethereum, rollups and other chains, with an API for apps.
Guides
Guides that mention Veda
Wallets and tools
MetaLend Explained: Crypto Tracking and DeFi Management ToolMetaLend is presented as an all-in-one tool for tracking crypto holdings and managing DeFi positions. This guide explains what that kind of tool does, what to verify about MetaLend before using it, and how to connect safely.
How we checked
Sources
Last updated . Spotted an error? Tell us and we will correct it.