TVL concentration (top-10 wallet share)

Centrifuge's assessment for RD-F-064 — scored yellow on the v1.7.0 rubric. The evidence below is the curator's reasoning for this score.

Evidence summary #

JTRSY + JAAA combined represent an estimated 60-70% of total TVL, both managed under Janus Henderson / Anemoy umbrella. Grove (single institutional allocator) provided $1B commitment to JAAA and $250M to Avalanche deployment — one counterparty may hold 20-35% of total protocol TVL. Exact top-10 wallet share not enumerable from public sources (permissioned whitelisted investor lists).

Sources #

URL
https://blockworks.co/news/janus-henderson-clo-token-1bretrieved 2026-04-27
URL
https://www.coindesk.comretrieved 2026-04-27

Methodology #

Compute the percentage of protocol TVL held in the top-10 depositor addresses.

See the full factor methodology and distribution across all protocols →

rubric_version v1.7.0 protocol centrifuge factor RD-F-064 score yellow collected_at 2026-04-30 21:19:10