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A new conversation is now available to watch in full. **Key Details:** - The discussion features Yatsiu - Full video accessible online **Previous Conversations:** - Recent talks with Vivek from late January are also available - Multiple episodes released over the past week [Watch the conversation](http://unhashed.co/yatsiu) Catch up on the latest discussions and insights from industry voices.

**The latest alpha un# episode explores digital property rights for everyday consumers**, featuring Yat Siu from Animoca Brands in conversation with host Sri Misra. The discussion centers on **John Locke's classical property theory** - traditionally focused on physical labor and "the work of our hands" - and how it applies to today's digital economy. **Key points:** - Modern economy increasingly built on intellectual property and creative work - Digital labor and creator contributions need proper recognition - Property rights framework should extend beyond institutional players to individual consumers The conversation examines how **digital property rights, copyright, and IP function in the open metaverse**, particularly as AI creates new forms of value without physical form. This builds on ongoing discussions about ensuring creators and consumers have meaningful ownership in digital spaces, not just corporations and institutions.

The Gmaarna team has officially assembled and entered buildathon mode, bringing high energy and deep curiosity to their development process. **Key Highlights:** - Team focused on first-principles approach to building - Buildathon represents intensive development phase - Follows broader industry trend of supporting builders beyond traditional hackathons **Context:** This announcement comes after recent discussions about the need for more comprehensive builder support in web3. Industry leaders have emphasized that developers require real pathways to ship, scale, and transition into founder roles - not just one-off hackathon experiences. The Gmaarna team's approach aligns with this philosophy, focusing on sustained development rather than short-term events.

**The On-Chain Adoption Problem** A new episode of *alpha un#* reveals a striking reality: **less than 10% of crypto participants are actually using on-chain applications**. **Key Barriers to Adoption:** - DeFi protocols are too complex and risky for mainstream users - Over-collateralization requirements (often 150%+) lock out most potential participants - Current systems favor degens over everyday users **The Proposed Solution:** Host Sri discusses how **on-chain credit with lower collateral requirements** could unlock mass adoption. By reducing the capital efficiency barriers, billions of users could potentially access DeFi services. The episode features insights from **Yat Siu of Animoca Brands**, exploring practical pathways to make blockchain technology accessible beyond the current crypto-native audience. This conversation builds on previous discussions about institutional adoption challenges and the role of privacy-preserving technologies in bridging traditional finance with public blockchains.

**aarna is developing Agentic Onchain Treasury (AOT)**, a system designed to streamline DeFi asset management by consolidating fragmented workflows into a single treasury layer. **Key features:** - Automated capital allocation across stable yield, fixed income, and risk assets - Powered by TARS agents that analyze markets, rebalance positions, and enforce risk constraints onchain - Non-custodial with transparent, verifiable execution logic - Real-time risk monitoring with automated de-risking when thresholds are breached The platform offers tokenized vaults supporting fixed-yield strategies and DeFi indices, minted via stablecoins. Unlike traditional vaults, AOT uses policy-defined limits and protocol-level safety controls including allocation bands, slippage checks, and multisig-gated execution. The system targets both retail users seeking simplified DeFi access and institutions requiring governed, policy-based capital management. Learn more: [aarna docs](https://docs.aarna.ai/)

The crypto market experienced its largest liquidation event since October, with over **$5 billion in forced liquidations** across just four days. On February 1 alone, nearly $2.2 billion in futures contracts were liquidated, affecting more than 335,000 investors. **Key drivers of the chaos:** - Escalating U.S.-Iran tensions and looming government shutdown triggered global risk-off sentiment - January 2026 saw massive ETF outflows totaling ~$1.7 billion weekly from U.S. Bitcoin and Ether spot ETFs - Peak single-day withdrawal of nearly $1 billion on January 29 amplified selling pressure During this turbulence, structured yield products like aarna's atvPTmax remained stable, delivering consistent 10-12% APY in USDC through its Pendle PT strategy. The product stayed completely unaffected by market volatility while providing capital preservation. For investors impacted by the liquidations, shifting toward safer yield strategies that don't depend on price direction may offer more predictable returns during uncertain market conditions.

**atvPTmax**, an automated vault by aarna, has achieved **~11% annualized APY** in pure USDC returns over two months, significantly outperforming traditional stablecoin lending venues. **Key Performance Metrics:** - **+1.8% absolute USDC return** over 2 months - **NAV progression: 1.0000 → 1.01821** with zero drawdowns - **~80% outperformance** vs stablecoin lending benchmarks (risk-adjusted) - **TVL scaled 3x** ($150k → $482k) with no degradation **How It Works:** The vault deploys capital across **11 Pendle PT markets**, executing **15 rebalances** to manage maturity, liquidity, and position sizing. Pendle PTs (Principal Tokens) lock in fixed yields by purchasing discounted tokens that converge to par at maturity. **Technical Execution:** Powered by **TARS AI agent**, tvPTmax solves PT market fragmentation through: - Real-time scanning of PT markets - Position caps <5% pool TVL to minimize slippage - Automated rolls on maturity triggers - Diversification across 30-180 day tenors The strategy addresses a critical pain point: manual PT accumulation breaks at scale due to liquidity fragmentation and execution costs that can erode 20-30% of APY. [Deploy via aarna](https://bit.ly/4puRJTC)

Aarna's onchain execution agent, TARS, addresses risk management for autonomous DeFi operations through four key mechanisms: **Continuous monitoring**: Tracks portfolio exposure and market conditions block-by-block, enforcing diversification caps and position limits at execution. **Policy constraints**: Deploys capital only into whitelisted markets meeting liquidity, maturity, and withdrawal criteria. **Automated de-risking**: Reduces exposure or reallocates when thresholds are breached due to maturity compression or liquidity changes. **Safety controls**: All actions pass through oracle validation, slippage checks, and multisig-gated execution. The system operates on Pendle PT markets, automatically rolling or reducing allocations as tokens approach expiry to maintain yield and capital discipline.

**Hidden execution errors** in DeFi automation only surface after damage is done - bad fills, stale prices, and silent slippage hit your PnL post-transaction. **tvPTmax's safety engine** prevents these mistakes before they reach the blockchain: - Every move **simulated first** with <0.5% slippage requirement - **Oracle-parity checks** block stale/manipulated pricing - **Rollback conditions** stop policy violations - **3/5 multisig review** for all transaction bundles - **Full on-chain logging** for complete auditability Nothing executes blind. Nothing happens just because automation says so. This backend protection lets tvPTmax chase **PT yields safely** while avoiding the execution errors that quietly drain performance elsewhere. **Safe execution isn't an afterthought - it's the core feature.** [Explore tvPTmax](https://engine.aarna.ai/?productId=a_fi_PTmax)

**TARS made its debut at Devconnect in Buenos Aires**, marking a key milestone for aarna's autonomous DeFi investment agent. The AI agent appeared at the major blockchain conference, where attendees could interact with QR codes as part of an ongoing global challenge. **Key developments:** - TARS successfully deployed at major crypto event - QR code interactions tracked during conference - Community challenge remains active worldwide - Users can explore **tvPTmax** functionality The **#TARSChallenge** invites users to: - Take photos with TARS QR codes in iconic locations - Share on social media with proper tags - Earn ASRT rewards for creative submissions This represents aarna's first major **community-powered activation**, demonstrating how the autonomous agent travels globally through user participation. TARS continues managing **12-14% USDC yield** through risk-managed vaults while the community showcases the agent across different locations worldwide. *Ready to join the global challenge?* Visit [app.aarna.ai](http://app.aarna.ai) to explore tvPTmax and participate.