KETJU Research

← The Register

other

YieldSeeker

Rejected
Max sleeve
Reviewed
2026-08-16 · v1
Next review
2026-11-15
Chains
Base · hybrid

Rejected venues wait the longest for re-review; a rejection has to earn another look before the scheduled date.

YieldSeeker gives an autonomous agent delegated control of a Base smart account and lets Autoseek move USDC among Morpho, Euler, Spark, Yo, Tokemak, Fluid and other vaults after deposit. The user retains withdrawal rights but cannot enforce Ketju’s approved-venue allowlist and caps while the agent selects and rebalances the live portfolio. That continuing allocation authority is more fundamental than the approximately $1.26M TVL observed on 2026-08-16, so the version-1 delegated-allocation dossier rejects it at zero.

The research file

Mechanism and class applicability

A user deposits USDC into an isolated Base smart account controlled through agent permissions. YieldSeeker states that its autonomous Autoseek strategy scans rates, incentives, protocol risk and liquidity, then reallocates across multiple vaults, swaps rewards back to USDC and compounds without a new user transaction. The DefiLlama adapter enumerates dozens of Morpho, Euler, Spark, Yo, Tokemak, 40 Acres, Avantis and Fluid vault receipts held by agent wallets. This is continuing venue selection after deposit and directly satisfies the shared delegated-allocation dossier.

Current observation and perimeter

The DefiLlama protocol API read on 2026-08-16 classified YieldSeeker as a Yield Aggregator and reported approximately $1.26M entirely on Base. Its adapter obtains agent-wallet addresses and token lists from the YieldSeeker API, reads balances onchain and unwraps ERC-4626 shares; it marks the balance double-counted because underlying venues also report those assets. The record therefore covers the aggregate agent portfolios, not a fixed vault or independent pool of exit liquidity.

Control, loss and exit applicability

YieldSeeker describes the platform as custodial smart-contract infrastructure even though accounts are isolated and only the owner may withdraw. Agent execution relies on EIP-7702 delegation, Coinbase TEE key infrastructure and platform-selected vault integrations. The account inherits contract, oracle, liquidity, curator, reward-swap and incident risk from every active underlying venue. A withdrawal instruction remains user-controlled, but executable proceeds depend on the agent unwinding each live vault and any queue or loss inside it.

Why the class rule decides

Personal risk preferences and visibility into current allocations do not give the advisor an immutable allowlist or per-venue cap matching the mandate. The agent can replace one underlying claim with another between reviews, including a curator-controlled or otherwise rejected vault. The version-1 delegated-allocation dossier therefore controls regardless of size. Reopen only if a client-specific immutable policy limits activity to currently approved venues and caps, holdings, debt, realized losses and delegation changes are independently verifiable, and a proposed-size stressed withdrawal clears every active venue; compare with direct capped positions in those venues.

Sources

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

Inherited controls

The verdict above grades the protocol layer. Every position also inherits the asset it holds and the chain it settles on. The least safe layer sets the position’s grade, and the position table names which one that is.

ChainVerdictGradeControl constraint
BaseApproved · limits hybrid Coinbase — one regulated US company — operates the only sequencer, and admin keys can upgrade bridge contracts within ~7 days.
The memo is public. The watching is the product: the terminal reads your clients’ wallets against this Register and flags the events above when they fire. $49 per advisor per month, first 14 days free. Start the trial.