Waterfall DeFi

Waterfall Defi is a risk lego / tranching protocol that offers fixed and variable yield products based on risk appetite

## Overview Waterfall DeFi is a risk tranching protocol built on decentralized finance infrastructure that enables users to customize their yield exposure through structured products. Rather than offering a one-size-fits-all liquidity pool, Waterfall implements a "risk lego" architecture that segments capital into distinct risk tiers. Each tier offers different yield profiles—some locked into fixed returns, others exposed to variable yields—allowing participants to select products aligned with their risk tolerance and return expectations. The protocol exists to solve a fundamental problem in d