Is Anemoy Capital Safe?
Risk Grade: B- (34/100)
Anemoy Capital is rated as moderate risk — some novel mechanisms, generally well-understood.
Moderate risk — oracle and bridge dependencies are balanced by institutional partnerships with Janus Henderson, S&P rating, and regulated fund structure.
Anemoy Capital is a web3-native asset manager built on Centrifuge that tokenizes real-world assets including US Treasury bills, credit funds, and an S&P 500 index fund, with approximately $567M in total value locked across its fund products. Partnered with Janus Henderson and rated by S&P Global, its B- grade reflects moderate risk primarily driven by oracle dependency on Chronicle Protocol for NAV pricing, cross-chain bridge risk via LayerZero for multi-chain fund access, and the inherent counterparty risk of off-chain asset custody balanced by institutional-grade partnerships and regulatory oversight from BVI financial authorities.
TVL
$764M
Mechanisms
5
Interactions
4
Value Grade
D
Key Risks for Anemoy Capital Users
Fund NAV pricing depends on Chronicle Protocol's RWA Oracle to report accurate on-chain values. If the oracle experiences delays or errors, fund tokens could temporarily trade at incorrect prices, though Chronicle's cryptographic Proof of Asset framework provides verification of underlying holdings.
Cross-chain access to fund tokens on Ethereum, Solana, and other chains relies on LayerZero messaging infrastructure. Bridge failures could temporarily strand tokens on non-native chains and delay redemptions, though the Centrifuge deRWA token standard is purpose-built for this use case.
Underlying assets including US Treasuries and credit instruments are custodied by traditional financial institutions, introducing off-chain counterparty risk that cannot be mitigated by smart contracts alone. Bureau Veritas audits and S&P ratings provide independent oversight.
Instant redemption liquidity of $125M covers roughly 22% of total AUM. During periods of elevated redemption demand, holders may face delays or gating, though the Anemoy Liquidity Network provides additional same-day liquidity.
Top Risk Factors
- •Anemoy relies on Chronicle Protocol's RWA Oracle for on-chain NAV reporting of its tokenized funds, creating a single oracle dependency for pricing accuracy across its $567M AUM. Chronicle's Proof of Asset framework provides cryptographic verification, but a sustained oracle failure could delay redemptions.
- •As a Centrifuge-native asset manager, Anemoy inherits Centrifuge's smart contract and infrastructure risk. Fund tokens are issued on Centrifuge's chain with cross-chain bridging via LayerZero, creating bridge dependency for multi-chain fund access.
- •Underlying assets are off-chain US Treasury bills and credit instruments custodied by traditional financial institutions. Counterparty risk with custodians and fund administrators exists outside of on-chain verification, though Bureau Veritas audits and S&P ratings provide independent oversight.
- •Redemption liquidity depends on the Anemoy Liquidity Network providing $125M in instant redemptions and $100M in same-day liquidity, but during market stress these pools could be insufficient relative to total AUM.
Risk Score Breakdown
Anemoy Capital's highest risk area is Scale Exposure (7/10). Here's how each dimension contributes to the overall 34/100 score:
Read the Full Anemoy Capital Risk Report
This protocol has 2 collapse scenarios. 1 high-severity interaction risks identified. See the full mechanism classification, interaction matrix, and deep-dive recommendations.
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