According to CoinMeta, based on Delphi Digital data, currently professionally managed DeFi holds approximately $9 billion in vault assets. Among these, Steakhouse Financial, Sentora, and Gauntlet collectively manage around $6.8 billion, which is about $3.2 billion, $2.2 billion, and $1.4 billion respectively. Delphi Digital indicates that recent losses have led to more funds flowing towards larger curator and relatively safer collateral assets. Moreover, potential licensing and compliance costs may further exacerbate industry centralization, with vault management institutions gradually exhibiting characteristics similar to traditional asset management companies.