FalconX Credit Vault

Senior tranche of the FalconX credit vault on Pareto. USDC is lent to one FalconX borrower wallet, which funds prime-brokerage credit lines. Collateral sits offchain. The junior tranche has no tokens outstanding, so there is no onchain first-loss buffer. This is the vault FalconX announced and that rwa.xyz lists as AA_FalconXUSDC, not Plume's NFALCON or Sygnum's Desygnate. A deprecated Pareto deployment on Optimism is not tracked.

Private creditNon-US professional investors onlyTransfer-restrictedOnchain dataIssued by M11 Credit · Platform Pareto

Value

$132.0M

Stage

None

Below Stage 0: key facts not disclosed

Single-key powers

Single key holds critical power

Oracle age

3h 44m

On schedule

Used as DeFi collateral

$12.5M· 5 markets

Lending markets

Where AA_FalconXUSDC is accepted as collateral, and how each market prices it.

Market	LLTV	Oracle	Collateral	Borrowed	Util.
Morpho · AA_FalconXUSDC / USDC Ethereum · borrow USDC	91.5%	NAV feed0x52eA…93Fc	$1.12	$0.96	90.5%
Morpho · AA_FalconXUSDC / USDC Ethereum · borrow USDC	77%	NAV feed0x52eA…93Fc	$12.5M	$7.0M	90.2%
Morpho · AA_FalconXUSDC / AUSD Ethereum · borrow AUSD	77%	NAV feed0x52eA…93Fc	$144.97	$103.78	62%
Morpho · AA_FalconXUSDC / AUSD Ethereum · borrow AUSD	91.5%	NAV feed0x52eA…93Fc	$0	$0	0%
Morpho · AA_FalconXUSDC / mUSD Ethereum · borrow mUSD	77%	NAV feed0x52eA…93Fc	$0	$0	0%

Source: Morpho API, Aave pools onchain · snapshot 29 Oct 2026, 20:30 UTC

FalconX Credit Vault

Lending markets

Collateral by protocol

Totals