Gremlix

Gremlix remains rejected because it is below the size floor. It is an Arbitrum yield-vault protocol represented by two registered ERC-4626 vaults, and the visible USDC product is labeled a Dual Grid Vault. DefiLlama measured $127,851 on 2026-08-16, only 0.13% of the size floor. We will not open the individual review until it clears that floor. The sparse public strategy and control record also calls for complete evidence on positions, roles, loss accounting, and exits before any material advised allocation.

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 and perimeter applicability

The current registry identifies two Gremlix ERC-4626 vault contracts on Arbitrum. The live yield feed labels the observable product USDC Dual Grid Vault and shows single-asset USDC entry. This establishes a tokenized vault claim and an automated-strategy boundary, but public materials do not yet identify the grid venues, gross positions, leverage, or hedge rules.

Control and evidence applicability

The two deployed vault addresses and totalAssets accounting are visible, but the survey record links no current official documentation or audit. ERC-4626 compliance alone does not identify strategy operators, upgrade or pause powers, valuation inputs, or loss allocation. These gaps require further review and do not show that the vaults are safe.

Exit applicability

A vault-share standard provides deposit and redemption interfaces, but actual redemption capacity depends on liquid USDC and the unwind terms of the undisclosed grid strategy. The survey and public feed state no lock, queue, buffer, or stressed-withdrawal result. An allocator therefore cannot assume an instant par exit from the ERC-4626 label.

Why the dossier still applies

DefiLlama measured $127,851 on Arbitrum on 2026-08-16, 0.13% of the size floor. The protocol is below that floor even before considering the lack of strategy details. We will not open the individual review until TVL clears the floor for 30 days and Gremlix publishes strategy venues and positions, privileged roles, audits and incidents, NAV and loss rules, and proposed-size withdrawal and unwind evidence.

Research status

This is a capacity-unproven record for Gremlix, 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.

• Gremlix — official social account · primary · accessed 2026-08-16
  Supports: current protocol identity, official communications channel, product lifecycle
• Arbiscan — Gremlix vault 0x973A · primary · accessed 2026-08-16
  Supports: deployed Arbitrum vault, contract boundary, onchain lifecycle
• Arbiscan — Gremlix vault 0xd519 · primary · accessed 2026-08-16
  Supports: second deployed Arbitrum vault, contract boundary, onchain lifecycle
• DefiLlama adapter — ERC-4626 registry · secondary · accessed 2026-08-16
  Supports: two Gremlix vault addresses, totalAssets methodology, ERC-4626 classification
• DefiLlama Yields — live pool feed · secondary · accessed 2026-08-16
  Supports: USDC Dual Grid Vault label, single-asset USDC exposure, current yield-pool lifecycle
• DefiLlama — Gremlix survey record · secondary · accessed 2026-08-16
  Supports: $127,851 TVL, Arbitrum perimeter, yield-aggregator category

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.