Gami Labs

Gami Labs runs on-chain asset-management vaults with active curation and changing risk controls across several chains, including Stellar, Ethereum, and Base. The DefiLlama API read on 2026-08-15 showed about $52M TVL, below our size floor. We do not open an individual review until it clears that floor. An advisory book moved into a venue this size based on the same research could overwhelm the exit, whatever the vaults’ quality. If Gami crosses the floor and stays above it, a reopened memo would apply the test used for every curated vault: whether the curator discloses its mandate and current allocations well enough for us to assess the delegated work.

Review triggers: events that reopen the verdict
• TVL sustained above the retired TVL threshold for 30 days

Watched nightly: a warning on its venues or files, or a cited document that changes, reopens the memo. The first confirmation is due 2026-11-15.

The research file

Mechanism applicability

Gami describes itself as an onchain vault curator and asset manager. Depositors enter vaults that actively allocate and rebalance assets across lending markets, fixed-income venues, liquidity pools and incentive programs. Those facts show that Gami is an investable vault venue and that its tracked capital falls under the v1 below-materiality dossier. They do not show that any strategy is approved.

Protocol-specific evidence boundary

Gami’s current site names Aave, Morpho, Silo, Curve, Pendle and Spectra as permitted strategy venues. It also describes monitoring and multisignature or MPC operating controls. A live vault page shows strategy allocations and fees. We record those facts only to show that Gami actively allocates delegated assets. We have not checked the mandates, authorities, valuation, audits, incidents, insurance or each underlying protocol.

Current observation and exit relevance

The DefiLlama protocol API read on 2026-08-15 reported approximately $52.0M across Gami-curated vaults, with Ethereum and Stellar as the largest parts. At that size, an advised sleeve could be large for the reported venue. Because Gami actively manages the allocations, withdrawals also depend on each vault’s settlement rules and the liquidity of its current positions. This review does not reach those questions because Gami remains below the size floor.

Why the shared dossier decides

Gami is below the v1 dossier’s size floor, so we reject the protocol on capacity before reviewing individual vaults. We will reopen the review only after the same tracked Gami perimeter stays at or above the size floor for 30 consecutive days. Clearing that floor starts, but does not complete, a vault-by-vault review of mandates, allocations, authorities, valuation, fees, incidents and redemptions under stress.

Research status

This is a capacity-unproven record for Gami Labs, not a quality rejection or approval. Reported TVL says how big the venue is, not what the client owns, who can change the rules, or how a position exits at a proposed size. The individual review opens when the protocol clears the size floor.

Sources

The claims above trace to these. Where a number could not be independently verified, the thesis says so.

• Gami Labs — vault platform and strategy venues · primary · accessed 2026-08-15
  Supports: curated vault identity, active rebalancing, underlying protocol types, operational controls
• Gami Labs — curation and risk-management approach · primary · accessed 2026-08-15
  Supports: asset-manager role, delegated allocation, monitoring, MPC governance
• DefiLlama — Gami Labs survey record, read 2026-08-15 · secondary · accessed 2026-08-15
  Supports: current TVL, chain distribution, risk-curator category, survey perimeter

Inherited controls

The research above describes the protocol layer. Every position also inherits the asset it holds and the chain it settles on. The layer with the most administrative power sets the position’s effective control; that describes control, not quality or suitability.