Performances
RD Popularity Index
RD Growth Index
Revenue & Burn
Protocol income
$2.47KBuyback funds
--Burn funds
--Buyback ratio
--Protocol funds over time
Monthly amounts & ratios
| Period | Protocol income | Buyback funds | Burn funds | Buyback ratio |
|---|---|---|---|---|
| Oct 2026 | $2.47K | -- | -- | -- |
| Sep 2026 | $4.52K | -- | -- | -- |
| Aug 2026 | $4.82K | -- | -- | -- |
| Jul 2026 | $3.24K | -- | -- | -- |
| Jun 2026 | $1.52K | -- | -- | -- |
| May 2026 | $1.14K | -- | -- | -- |
Comparison
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People
About Makina
Makina is a DeFi execution engine designed to automate complex strategies across chains. Its core offering is a non-custodial vault system called "Machines," which are programmable smart contracts that manage deposits, execute trades, and handle rebalancing automatically. The protocol also includes "Calibers," which provide execution logic and accounting functions, allowing operators to run sophisticated yield strategies without manual intervention.
Makina's main value proposition is its ability to bring institutional-grade risk management onchain. It offers cross-chain deployment, meaning strategies can operate on multiple networks simultaneously. The system is designed to be fully non-custodial, with assets always controlled by smart contracts, not by any central party. This reduces counterparty risk and aligns with the core ethos of decentralized finance.
The market pain point Makina addresses is the complexity and fragmentation of DeFi strategy execution. Many users lack the technical skills or time to manually manage positions across different protocols and chains. Makina automates this process, lowering the barrier to entry for sophisticated yield farming and risk-adjusted strategies. It also provides a single interface for users to access curated opportunities, which were previously only available to professional funds.
In the past six months (March to September 2026), Makina has focused on recovery and hardening after a security incident in January 2026, where a flash loan attack exploited a Curve pool, resulting in a loss of about 1,299 ETH. The team responded by activating a recovery mode, allowing affected liquidity providers to redeem their positions, and later upgraded the protocol to v1.1 with enhanced security features, including restricted accounting mode and additional price deviation checks. The protocol has since resumed normal operations, with redemptions reactivated after an AML/KYC process for large users. While the incident highlighted risks in liquidity concentration and oracle dependency, Makina's transparent response and subsequent upgrades demonstrate its commitment to resilience and continuous improvement.
Makina, a multi-chain DeFi execution engine, experienced a critical security incident on January 20, 2026, when an attacker exploited a vulnerability in its DUSD/USDC Curve pool, manipulating share prices via flash loans and draining approximately 5.1 million USDC. The hack affected only liquidity providers in that specific pool; a snapshot was taken before the incident to facilitate recovery. On January 22, the MEV builder returned funds, transferring about 920 ETH (out of 1,023 ETH received) to a dedicated recovery multisig, with the team continuing to pursue the remaining 276 ETH sent to a RocketPool validator. Looking ahead, Makina announced plans to launch Starloop, an on-chain treasury for SpaceX exposure, in September 2026, marking a strategic expansion beyond its core execution layer.
Over the past six months (2026-03-04 to 2026-09-04), Makina has focused on recovery and expansion following the January 2026 incident.
Key developments: The V1.1 contract upgrade was fully implemented, introducing permissioned accounting and exchange rate guards to strengthen security. All three Machines (DUSD, DETH, DBIT) resumed normal operations, with full redemption functionality restored at pre-exploit rates. The Steakhouse USD Machine launched as the second operator on the platform, aggregating institutional-grade USD yield strategies across multiple chains.
Future roadmap: Makina prioritizes expanding its operator network with institutional-grade strategy providers, deepening multi-chain deployment capabilities, and enhancing risk management infrastructure. The team continues to develop the Security Module concept for additional Machines, with focus on sustainable yield generation and institutional compliance standards.
Jenna Zenk - Executive Director at Makina. Previously served as Director of Ventures at Dialectic and General Partner & CIO at Kindi Capital. Co-founded Avantgarde Finance and served as CTO. Also held roles as Technical Council Member and CTO at Melon Protocol, and worked as a Hedge Fund Analyst at Trading Stralem Advisors and Bernheim, Dreyfus & Co.
Colin Platt - Product Lead at Makina. Previously Head of Institutional Growth at Makina (per LinkedIn), and held roles as Business Development Lead at KernelDAO, Product Lead at RockX, and Product Manager at Zipmex.