Bok Jin-sol of Four Pillars Emerges as a Next-Generation Asset Management Infrastructure with On-Chain Vault

On-Chain Vault is evolving into a new asset management infrastructure that shifts the role of asset management companies to blockchain. On the 10th, Bok Jin-sol, head of Four Pillars Research, presented on the topic "Vault, the On-Chain Infrastructure for Next-Generation Asset Management" at a seminar held in Yeouido, Seoul. Bok explained that Vault is gaining recognition as the on-chain infrastructure for next-generation asset management, with global financial institutions and digital asset exchanges applying or investing in Vault for their services. The On-Chain Vault operates as a vault managed by smart contracts, where users deposit digital assets, and the assets are automatically managed. Recently, curated vaults have gained attention, where professional managers handle asset allocation and risk management. Curators can receive management fees or performance fees for the managed funds, with performance fees reaching up to 15%. Examples were also introduced where exchanges like Coinbase and Kraken connect stablecoins to the On-Chain Vault to offer yield-generating products. Currently, the vault market has grown to over 10 trillion won, and participation from traditional financial companies is increasing. However, risks such as smart contract errors, incorrect price information, and collateral value declines exist. Discussions are also ongoing about whether curated vaults can be considered securities.

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