DeFi execution engine forasset managers
Strategies
Makina TVL
| Machine | Token | TVL | APY | Operator | Networks |
|---|---|---|---|---|---|
Frequently asked questions
Makina is a next-generation DeFi Execution Engine that powers onchain strategies through programmable vaults called Machines. It enables capital allocators to deploy, manage, and automate sophisticated strategies across EVM chains.
For DeFi users, DAO treasuries, and retail depositors, Makina provides access to curated yield opportunities managed by professional operators, strategies that have traditionally been difficult to access or fragmented across chains.
Through a single interface, depositors can allocate capital to high-conviction, risk-managed strategies without the complexity of building or executing them themselves.
Makina is for anyone who wants to do more with their assets onchain, without compromising on flexibility or security.
For depositors: Makina is for users seeking onchain deployment opportunities, while demanding transparency, auditability and onchain guarantees from the vaults they deposit in.
For operators: Makina is built for strategists deploying capital across chains, demanding secure infrastructure and efficient execution supported by professional tooling.
Makina offers a fullstack infrastructure for onchain strategies, which covers the entire lifecycle of a vault. At its core, Makina implements a DeFi execution engine and offers the following characteristics:
A Machine is a non-custodial onchain strategy vault that is operated by a professional onchain allocator. You deposit into it and receive a Machine token representing your deposit. Machines are fully transparent products, and their history, performance, holdings, parameters can be inspected by anyone onchain.
A Machine gives you exposure to a set of opportunities across EVM chains, and according to a mandate that is pre-approved by the Machine’s risk manager.
A Vault is a general-purpose onchain container for capital and often limited in its ability to execute complex strategies. A Machine is an enhanced vault, representing a tokenized cross-chain strategy, with onchain risk controls and powered by a sophisticated execution engine.
It’s the token you receive when you deposit into a Machine, and it represents your position in that strategy. Every Machine has its own, so for example when depositing GOOGLc into the Yielding Google Machine, you receive in return a yGOOGLc Machine token.
Once it lands on your wallet, it behaves like any other token. You can keep it, move it, and use it elsewhere in DeFi.
You can deposit assets (such as USDC or ETH) directly through the Makina UI to mint Machine Tokens.
Most Machines are publicly accessible (permissionless deposits), but some implement a whitelist on deposits (referred to as “gated”).
Deposits are instantaneous. Machine Tokens land in your wallet once the deposit transaction is confirmed.
Redemptions go through a queue, as the operator has to free up liquidity to settle them. You can track your request under the "Pending redemptions" section in the Makina UI and on the Operator dashboard.
A swap sells your Machine Token to someone else through a liquidity pool on a DEX such as Uniswap. It happens instantly, but the price you get depends on how much liquidity is in that pool at the time.
A redemption returns the shares to the Machine, which are then burned once the redemption is processed. It is asynchronous, but you receive the exact Machine token’s price as computed onchain, expressed in accounting token.
A Machine token’s price is derived by aggregating the values of all of its positions on every chain it is deployed on, and dividing by the number of outstanding shares of the Machine. The accounting is done fully onchain.
The accounting happens in the contracts rather than in off-chain spreadsheets, so the accounting methodology behind the Machine token’s price is transparent and verifiable.
Each Machine has a dedicated strategy page on the website, which you can access by clicking on a given strategy. You can also explore the Operator dashboard, which shows every Machine's allocations, real-time activity, performance and redemption queue.
Positions, parameters and the share price are all public and verifiable directly on any blockchain explorer.
They are Machines that accept a tokenized stock as the deposit asset and generate return on it. You deposit the tokenized stock and receive a Machine token, just like Machines built on crypto assets.
For example, deposit Coinbase's tokenized Nvidia stock (NVDAc) and you receive the matching Machine Token (yNVDAc).
As with any DeFi protocol, using Makina carries risks, including potential smart contract vulnerabilities, bridge risks, risks linked to other DeFi protocols in which the strategy has positions, and market volatility. Makina mitigates these through multiple security audits, onchain risk controls, and an emergency Recovery Mode. Nonetheless, these risks cannot be fully eliminated, and users should exercise caution.
Yes, Makina is a non-custodial protocol, meaning deposited assets are held and managed by smart contracts rather than entrusted to the discretion of a vault operator.
Operators can execute strategies only within defined mandates, pre-approved sets of actions and risk parameters enforced onchain. This allows them to deploy capital without having unrestricted control over depositors’ funds. Changes to a Machine’s mandate are behind timelocks and can be inspected by anyone onchain.
Depositors hold their vault shares in their own wallets and redeem through the protocol, subject to the vault’s redemption rules and available liquidity. Non-custodial does not mean risk-free: smart contract and strategy risks still apply.
Yes. All contracts underwent security audits from top-tier firms. Reports are publicly available on the technical documentation.