A very new Euler risk-curation vault on Monad — its tracked TVL went from zero to a couple million dollars in about two weeks.
AlphaGrowth curates risk parameters — collateral eligibility, oracles, loan-to-value ratios — for vaults built on Euler Finance's modular vault system, rather than running its own lending contracts. The firm predates this specific line of business: founder Bryan Colligan, previously at investment bank FT Partners before moving into business-development and grants roles at Near, Aurora, Kava and Sommelier, built AlphaGrowth's best-documented track record running Compound DAO's growth-operations program since December 2023 — a 2025 renewal filing reports $8.91M generated against a $4M budget, Compound V3 deployed across 4 new chains and 11 new markets, and over $750M in attributed TVL growth. That's real, well-documented performance, but it's DAO growth and incentive-design work, not risk curation — the Euler vault-curation line, including its Monad product, is a newer and structurally different business for the firm. One confirmed Monad-side product lets users post AUSD/USDC/USDT Balancer LP tokens as collateral to borrow AUSD through an AlphaGrowth-curated Euler vault.
AlphaGrowth's Balancer-LP-collateral design is a genuinely different risk category from every other curator on this list — most peers accept single-asset collateral, while an LP token's price behaves non-linearly as the pool's underlying assets diverge, and unwinding an LP position during a liquidation can itself drain the same pool a liquidator needs for an efficient exit, a dynamic Aave's own risk-analysis partner Gauntlet has documented as a real hazard for LP-token collateral generally. Against K3 Capital or Steakhouse, which each have several years of dedicated risk-curation history, AlphaGrowth's curation track record is the newest and thinnest on this list — its underlying firm is well-established, but specifically as a curator it has essentially no multi-cycle history yet. Fee disclosure is also weaker here than for a peer like Clearstar, which publishes granular per-vault rates; AlphaGrowth's Euler-vault fee isn't publicly disclosed anywhere found, only the protocol-wide 50% cap Euler itself enforces.
AlphaGrowth's Monad deployment is extremely young — its tracked TVL there was essentially zero as of late June 2026 and reached a couple million dollars within about two weeks, and a precise current figure couldn't be independently verified since Euler's Monad interface is JavaScript-rendered and not easily scraped, with no dedicated press coverage of the Monad launch found either. AlphaGrowth itself, as an organization, predates this specific deployment by only a few months as a Euler risk curator, having first appeared on Ethereum, Base, Linea and Unichain before adding Monad.
As with any Euler-based curator, a mis-calibrated risk parameter — too generous an LTV on a volatile Monad asset, for instance — can produce bad debt even if Euler's own contracts are bug-free. The Balancer-LP-collateral design specifically adds a layer most Monad lending doesn't carry: LP-token pricing and liquidation mechanics are more complex than single-asset collateral, and the same liquidity crunch that would make a liquidation necessary can also make it harder to execute cleanly. AlphaGrowth's Monad vaults have essentially no track record yet: no history of surviving a Monad-specific liquidity crunch or volatile depeg on this chain, and comparatively little independent documentation (audits, governance process, parameter-change history) beyond the vault interface itself.
Not entirely — the underlying firm has run Compound DAO's growth-operations program since December 2023 with a well-documented, multi-year track record. What's genuinely new is specifically its risk-curation line on Euler, including the Monad vault, which has only a few months of history.
It accepts a token representing a share of a liquidity pool — not a single asset — as collateral. Pricing and liquidation mechanics are structurally more complex than single-asset collateral, and industry risk analysis has flagged that unwinding LP collateral during a liquidation can drain the same pool a liquidator needs, making execution harder exactly when it matters most.
A precise current figure couldn't be independently verified — tracked TVL reached a couple million dollars within about two weeks of a near-zero starting point in late June 2026, but Euler's Monad interface doesn't expose an easily-scraped historical figure, and no dedicated press coverage of the launch was found.
Sources: AlphaGrowth, Risk Curators — Euler Docs, Compound Growth Program 2025 Renewal — AlphaGrowth (comp.xyz forum), Gauntlet analysis: market risks of listing LP tokens as collateral — Aave Governance Forum
Last reviewed 2026-07-08. More Monad research.
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