Hyperithm has released an updated net asset value report for its Midas Vaults, covering mHYPER, mXRP, and mHyperBTC. In the announcement, the company said these vaults have experienced no drawdowns and that all leveraged positions previously held on Aave have been fully unwound.
NAV update highlights current risk posture
The update focuses on the current asset condition and risk profile of the vault products. According to Hyperithm, the latest NAV report was produced by the Midas proof engine and then independently verified by risk assessment firm LlamaRisk. That verification process is meant to improve transparency around the reported figures and provide additional confidence in the data.
For on-chain structured products and yield vaults, drawdowns and leverage exposure are among the most closely watched indicators. By explicitly stating that no drawdowns have occurred and that Aave-related leverage has been fully removed, Hyperithm is signaling a more conservative positioning and a focus on limiting exposure under potentially volatile market conditions.
Transparency and investor backing in focus
Beyond the vault update itself, Hyperithm also noted that it is backed by well-known investors including Coinbase Ventures, Samsung Next, and Hashed. In the current market, institutional and sophisticated users tend to place greater emphasis on proof systems, risk review frameworks, and independent validation. In that context, LlamaRisk’s involvement in verifying the NAV update may help strengthen market confidence in the platform.
Overall, the announcement delivers three main points: the NAV for the Midas Vaults has been updated, mHYPER, mXRP, and mHyperBTC have seen no drawdowns, and the platform has fully exited leveraged exposure on Aave. For users tracking on-chain asset management products, disclosures around NAV, leverage, and third-party verification remain key signals when assessing operational stability.