# About IPOR Fusion

> Who builds Fusion, where it came from, who relies on it, and where to meet the team: IPOR Labs AG in Zug, from the IPOR rate benchmark to institutional vault…

Source: https://ipor.io/about

Fusion is onchain vault infrastructure for institutional-grade yield strategies, built by IPOR Labs AG in Zug, Switzerland, and used by Fortune 500 companies, ETP issuers and MiCA-authorised entities.

![The Fusion team on stage in 2026: Darren Camas speaking at the Vault Summit main stage; the panel "Compliant Vaults: Designing for Institutional Participation" at Vault Summit Cannes; Darren at the New York Stock Exchange Big Board Club during Vault Summit NYSE; his talk at ETH Milano under a frescoed ceiling; and a five-person panel in Berlin](https://ipor.io/_astro/collage.CRPcUfhp_Z27tRQs.webp)

Proud sponsor of

![Vault Summit](https://ipor.io/_astro/vault-summit.Bz-nv_pu_2eWGi6.svg)

![The Big Whale](https://ipor.io/_astro/the-big-whale.CuaAT7rP_Z2tOJ1q.svg)

![ETHMilan](https://ipor.io/_astro/ethmilan.DbYC4xt5_Z1e0WIL.webp)

Also on stage at

![Laser Digital, Nomura Group](https://ipor.io/_astro/laser-digital.DfHRoESH_1Q0Fuj.svg)

![Capital Summit](https://ipor.io/_astro/capital-summit.Dq3Cu_tu_1YejyH.svg)

## Who builds on Fusion

**The industry we serve.** Regulated capital first: fund managers, ETP issuers, custodians, exchanges and MiCA-authorised operators, alongside the curators and in-house teams already onchain.

Trusted by

![Bitget](https://ipor.io/_astro/bitget.Bc0F2LlN_67ikc.svg)[Bitget on X →](https://x.com/bitget/status/2115399203757429167)

![BitGo](https://ipor.io/_astro/bitgo.BxHvgtD9_1h9N5t.webp)[BitGo × Tesseract access →](https://ipor.io/news/bitgo-institutional-access-tesseract-dedicated-client-vaults.md)

![21Shares](https://ipor.io/_astro/21shares.COKnNwL1_1AmKmm.webp)[Launch with Tesseract →](https://ipor.io/news/tesseract-selects-fusion-institutional-vault-infrastructure.md)

![Tesseract](https://ipor.io/_astro/tesseract.P4eU0m-d_2nUPoH.webp)[Why Tesseract chose Fusion →](https://ipor.io/news/tesseract-selects-fusion-institutional-vault-infrastructure.md)

![TAU Labs](https://ipor.io/_astro/tau-labs.Df-j8_RJ_Z2ojqCB.webp)[cbETH looping on Base →](https://ipor.io/news/fusion-automates-aave-yield-cbeth-looping.md)

![ClearStar](https://ipor.io/_astro/clearstar.iVZYMqx6_23sNKi.webp)[cbETH vaults on Base →](https://ipor.io/news/fusion-vaults-45-cbeth-base.md)

![K3 Capital](https://ipor.io/_astro/k3-capital.D1rxW-hV_Z2sETUI.webp)

![LlamaRisk](https://ipor.io/_astro/llamarisk.243nVzLi_1bCSB2.svg)

**The vision.** We believe onchain finance and traditional finance will converge into one economy, and that vaults will be its building blocks: the structures that hold, move and control the flow of assets. Fusion is the vault layer for that economy, built so institutions can run a mandate onchain with the controls they already apply: set in advance, enforced by code and verifiable by anyone.

## Building with industry leaders

IPOR Fusion grows through the people building onchain finance: the institutions running vaults on it and the networks those vaults operate on.

![Darren Camas with Jesse Pollak, head of Base, in front of a screen reading "Base VIP Reception"](https://ipor.io/_astro/darren-jesse-pollak.DGfigSTV_14xD3A.webp)

_Darren Camas with Jesse Pollak, head of Base, at the Base VIP Reception, October 2026_

![Darren Camas with James Harris, CEO of Tesseract, in front of the Vault Summit sponsor wall, with the Fusion by IPOR logo among the sponsors](https://ipor.io/_astro/darren-james-harris.CmMCneeZ_Z1EVRlE.webp)

_Darren with James Harris, CEO of Tesseract, at Vault Summit Cannes_

## What we build

![Darren Camas presenting "Three ways to build Fusion vaults" at Vault Summit Singapore, October 2026. The slide shows the Fusion Terminal application for portfolio managers, the Python SDK and CLI for developers, and an MCP server for AI agents, all on the same stack of vaults, Fuses, substrates, role manager, automation and risk infrastructure](https://ipor.io/_astro/vault-summit-singapore-three-ways.C012crMJ_Z4CcEG.webp)

_Vault Summit Singapore, October 2026_

**The market.** Regulated capital is looking for a way into the onchain economy: fund managers, ETP issuers, custodians and exchanges that want onchain yield, transparency and composability without giving up the controls their business runs on. The opportunity is large and still thinly contested, with few regulated entities operating onchain at scale. As listed equities, funds and other real-world assets move onchain, that capital needs somewhere to be managed.

**The ambition.** To be the vault layer that capital runs on: every mandate in its own vault, every rule set before money moves, every position open to the people who need to see it. Fusion vaults have already processed more than $10B in volume.

**How it works.** A fund manager, curator or in-house team defines what a vault may do before any capital enters: who can operate it, who can deposit, which actions and markets are allowed, and how every position is valued. Those rules are enforced onchain, so depositors can check them rather than take them on trust.

## The founders

IPOR Labs AG is a Swiss company registered in Zug. Its founders set out the original IPOR idea together: Darren Camas and Dimitar Dinev co-authored the [IPOR conceptual whitepaper](https://ipor.io/docs/resources/resources/research-and-whitepapers/ipor-conceptual-whitepaper.md) with Mau Hernandes, Ph.D.

Behind them is a team of nearly 20 people with deep software engineering backgrounds, working where banking, operational security and enterprise technology meet.

![Darren Camas](https://ipor.io/_astro/darren-camas.DKIMd6mX_SMe1d.svg)

_Darren CamasCo-founder_

[@DarrenCamas](https://x.com/DarrenCamas)[LinkedIn](https://www.linkedin.com/in/dcamas/)

![Dimitar Dinev](https://ipor.io/_astro/dimitar-dinev.QTVWgs7g_SMe1d.svg)

_Dimitar DinevCo-founder_

[@DimitarDinev7](https://x.com/DimitarDinev7)[LinkedIn](https://www.linkedin.com/in/dimitar-dinev/)

![Darren Camas and Dimitar Dinev in front of the Vault Summit sponsor wall in Singapore, with the Fusion by IPOR logo on the wall](https://ipor.io/_astro/founders-vault-summit-singapore.Ds-VksHu_2kLvUy.webp)

_Darren Camas and Dimitar Dinev, Vault Summit Singapore, October 2026_

## Some of the latest events we sponsor and speak at

1. ![Digital Asset Summit](https://ipor.io/_astro/digital-asset-summit.CpMLMHIx_1zITJj.svg)

   10–11 Nov 2026 · London

   Digital Asset Summit

   On the ground · upcoming

   Blockworks' [Digital Asset Summit London](https://luma.com/daslondon2026). More: [IPOR on X](https://x.com/ipor_io/status/2114676732620165180).

2. ![Laser Digital, Nomura Group](https://ipor.io/_astro/laser-digital.DfHRoESH_1Q0Fuj.svg)

   Nov 2026 · London

   Laser Digital Frontier Capital Summit

   Panelist · upcoming

   Darren on the Vault Strategies panel at Nomura's European headquarters. More: [IPOR on X](https://x.com/ipor_io/status/2115733803129864488).

3. ![Capital Summit](https://ipor.io/_astro/capital-summit.Dq3Cu_tu_1YejyH.svg)

   Nov 2026 · London

   Capital Summit

   On stage · upcoming

   Part of the team's London week. More: [IPOR on X](https://x.com/ipor_io/status/2114676732620165180).

4. ![The Big Whale](https://ipor.io/_astro/the-big-whale.CuaAT7rP_Z2tOJ1q.svg)

   Nov 2026 · London

   The Big Whale

   Sponsor · upcoming

   Part of the team's London week. More: [IPOR on X](https://x.com/ipor_io/status/2114676732620165180).

5. ![Vault Summit](https://ipor.io/_astro/vault-summit.Bz-nv_pu_2eWGi6.svg)

   Oct 2026 · Singapore

   Vault Summit Singapore

   Platinum sponsor

   Darren presented the Fusion Terminal on the main stage, during TOKEN2049 week. More: [announcement](https://x.com/ipor_io/status/2107480917073874984), [the talk](https://x.com/ipor_io/status/2108511778040586310).

6. ![The Big Whale](https://ipor.io/_astro/the-big-whale.CuaAT7rP_Z2tOJ1q.svg)

   Jun 2026 · Berlin

   The Big Whale event

   Co-sponsor

   A panel and evening with the Big Whale community. More: [recap](https://x.com/ipor_io/status/2065374129650577746).

7. ![Vault Summit](https://ipor.io/_astro/vault-summit.Bz-nv_pu_2eWGi6.svg)

   Jun 2026 · New York

   Vault Summit NYSE

   Sponsor

   Held at the New York Stock Exchange, where Darren spoke on institutional allocation. More: [IPOR on X](https://x.com/ipor_io/status/2062952440400662712), [Darren on X](https://x.com/DarrenCamas/status/2062896411583349021).

8. ![ETHMilan](https://ipor.io/_astro/ethmilan.DbYC4xt5_Z1e0WIL.webp)

   May 2026 · Milan

   ETHMilan 2026

   Sponsor

   Sponsoring alongside Intesa Sanpaolo, with Darren's talk “How Institutions Can Allocate Onchain Without Triggering the Regulator”. More: [announcement](https://x.com/ipor_io/status/2056318105874547110), [recap](https://x.com/DarrenCamas/status/2058958936582295736).

9. ![Vault Summit](https://ipor.io/_astro/vault-summit.Bz-nv_pu_2eWGi6.svg)

   Mar–Apr 2026 · Cannes

   Vault Summit Cannes

   Platinum sponsor

   During EthCC 9, with Darren on the “Compliant Vaults: Designing for Institutional Participation” panel. More: [IPOR on X](https://x.com/ipor_io/status/2038598045269459153), [recap](https://x.com/ipor_io/status/2041100884340363437).

## Where we come from

IPOR Labs began with interest rates. In January 2022 the team published the IPOR manifesto. It described the Inter Protocol Over-block Rate, a benchmark rate for DeFi sourced directly from the smart contracts of decentralized credit markets, printed onchain and auditable by anyone.

Building on that benchmark, IPOR Protocol added asset management in November 2022, which put liquidity providers' funds to work in money markets such as Aave and Compound.

In 2024 the team introduced IPOR Fusion. Its building blocks are ERC-4626 vaults that hold the assets, Fuses that perform single actions on integrated protocols, and offchain Alphas that run the strategy within limits the vault enforces.

Get in touch

## Planning a vault, or meeting us at an event?

Tell us what you are building

[Contact us](https://ipor.io/contact.md)

## About Fusion

Developed by IPOR Labs AG (Zug, Switzerland), Fusion is the onchain vault infrastructure for institutional-grade yield strategies. Its compliance-friendly vault stack is accessed by leading curators and regulated institutions, including Fortune 500 custodian BitGo (NYSE: BTGO) and leading ETP issuer 21Shares, with vault isolation and verifiable, deterministic risk controls.