Your House for
Onchain Finance.
Credit Analysis for
Your Onchain Book.

Your House for
Onchain Finance.
Credit Analysis for
Your Onchain Book.

Your House for
Onchain Finance.
Credit Analysis for Your Onchain Book.

Your House for
Onchain Finance.
Credit Analysis for
Your Onchain Book.

Your House for
Onchain Finance.
Credit Analysis for
Your Onchain Book.

Capitoli Underwrite stress-tests every position, traces liquidations through to

your claim, and re-marks the book daily. Every number can be replayed by anyone.

Fixed-rate curves, fixed-maturity vaults and defined-outcome notes coming soon.

Capitoli Underwrite stress-tests every position, traces liquidations through to

your claim, and re-marks the book daily. Every number can be replayed by anyone.

Fixed-rate curves, fixed-maturity vaults and defined-outcome notes coming soon.

Capitoli Underwrite stress-tests every position, traces liquidations through to your claim, and re-marks the book daily. Every number can be replayed by anyone. Fixed-rate curves, fixed-maturity vaults and defined-outcome notes coming soon.

Capitoli Underwrite stress-tests every position, traces liquidations through to

your claim, and re-marks the book daily. Every number can be replayed by anyone.

Fixed-rate curves, fixed-maturity vaults and defined-outcome notes coming soon.

Capitoli stress-tests every position, traces liquidations through to your claim, and re-marks the book daily. Every number can be replayed by anyone.

Launch App

If you lend onchain, you are underwriting credit. You deserve the analysis the largest curators run in-house.

If you lend onchain, you are underwriting credit. You deserve the analysis the largest curators run in-house.

If you lend onchain, you are underwriting credit. You deserve the analysis the largest curators run in-house.

Our Whitepapers

Dive deeper into each Capitoli product: credit analysis, fixed-rate curves and defined-outcome notes.

Dive deeper into each Capitoli product: credit analysis, fixed-rate curves and defined-outcome notes.
WHITEPAPER 01
Coming Soon

Capitoli Underwrite

WHITEPAPER 02
Coming Soon

Capitoli Curve

WHITEPAPER 02
Coming Soon

Curve

WHITEPAPER 03
Coming Soon

Capitoli Structured

WHITEPAPER 03
Coming Soon

Dealer

The Audit Trail,
in Public

The audit trail, in public

The audit trail, in public.

Every Capitoli Underwrite report is a credit memo in canonical JSON: hashed, pinned to one finalized block, and bound to its inputs, methods and evidence. Anyone can rerun it from the published evidence and land on the same result.

Every Capitoli Underwrite report is a credit memo in canonical JSON: hashed, pinned to one finalized block, and bound to its inputs, methods and evidence. Anyone can rerun it from the published evidence and land on the same result.
{
  "kind": "UnderwriteReport",
  "reportHash": "0xb863b32e9702c4b68c1d16dc7b0e0f7369591ff56f928865d53a48603203d658",
  "cut": { "number": "26035973", "finality": "finalized" },
  "identity": {
    "collateralToken": { "symbol": "PT-USD3-17DEC2026" },
    "loanToken": { "symbol": "USDC" },
    "terms": {
      "lltv": { "raw": "860000000000000000", "unit": "wad" },
      "liquidationIncentiveFactor": { "raw": "1043841336116910229", "unit": "wad" }
    }
  },
  "inputEcho": { "claim": { "raw": "100000000" } },
  "analysis": {
    "compensation": {
      "currentBaseRate": { "value": { "raw": "58773946828608000", "unit": "annual-rate-wad" } },
      "trailing30d": { "value": { "raw": "60156593821794749", "unit": "annual-rate-wad" } }
    },
    "scenarioAllocations": [{
      "scenarioId": "combined-stress",
      "bounds": [{
        "boundId": "selected-market-last",
        "claimImpact": {
          "loss": { "raw": "0" },
          "unrealizedShortfallShare": { "value": { "raw": "0" } }
        }
      }]
    }]
  },
  "support": { "state": "full" }
}

Frequently Asked Questions

What is Capitoli?

The house of onchain finance. Capitoli builds fixed-term products for onchain capital: Underwrite for credit analysis, Curve for fixed rates, Vaults for fixed-maturity lending, and Structured for defined-outcome BTC notes. Underwrite is the first to launch.

Who is Underwite for?

Anyone who carries onchain credit risk without a large research budget behind them: curators competing with the biggest desks, depositors checking the curator they allocate to, direct lenders supplying a market themselves, and lending protocols that accept vault shares as collateral.

What do you mean by underwriting?

The analysis, not the capital. In tradfi an underwriter often puts its balance sheet behind a deal; Capitoli never does. We lend nothing, exectue nothing and never need your wallet. We give you the credit memo and the decision stays yours.

How is this different from real-time monitoring?

It is the other half. Real-time tools flag an exploit in minutes. Capitoli measures the slow-moving risk they miss: collateral drifting toward its liquidation threshold, exit liquidity thinning, the same exposure piling up across markets.

Why portfolios, not tokens?

Because vault shares are now collateral. Two vaults can look like separate collateral while carrying the same underlying exposure. Capitoli underwrites each market and aggregates the book, so shared exposure shows up once, where it belongs.

What is currently available in Underwrite Beta?

Underwrite Beta is our first release. Pick one of three supported Morpho markets on Ethereum, enter the size you lend, or prefill it from a vault's position to obtain a report pinned to a finalized block. Report shows what the market pays you, what the collateral is really worth, and how five stress scenarios travel from liquidation to your claim, down to your distance to loss. The methodology evidence comes with it, exportable as JSON. It's the first piece of the desk, and more is on the way. Tell us what's missing: your feedback shapes what we build next.

Copyright © Capitoli
Copyright © Capitoli