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Adpend USDC

0x55555815a5595991c3a0ff119b59aef6c8b55555View on depeg monitor →

etherc4626 vault99.5 (critical)Needs attention⚠ Exit Recommended

Last scored: 9/8/2026, 10:20:13 AM

⚠
Exit Recommended
This vault holds a depegged underlying asset. Consider exiting or reducing exposure.
Low risk99.5/100FHigh risk

Grade F— > 65% estimated capital-at-riskfrom protocol failure events

Top 3 risk drivers

  1. exit_liquidity100 pts(+6.00 to score)
  2. Asset98 pts(+4.90 to score)
  3. utilization97 pts(+3.88 to score)
Score history (30d, 69 snapshots)+26 pts since 2026-06-02
74100050100

Alert History

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✕ Do not list

Critical risk score or blocking flags (redemptions closed, dormant, unverified).

Withdrawal risk: High utilization

100% of the market is borrowed. Partial exits are available; full exit requires waiting for borrowers to repay.

What this vault is exposed to

sdeUSD
100.0%
$247.2M92% LTVWATCH
PT-RLP-4SEP2025
0.0%
$0
sUSDEsUSDS
0.0%
$0
csUSDL
0.0%
$0
weETH
0.0%
$0
LBTC
0.0%
$0
PT-slvlUSD-25SEP2025
0.0%
$0
lvlUSD
0.0%
$0CALM
PT-pUSDe-16OCT2025
0.0%
$0
fxSAVE
0.0%
$0CALM
mHYPER
0.0%
$0
syrupUSDC
0.0%
$0WATCH
wstUSR
0.0%
$0
PT-syrupUSDC-30OCT2025
0.0%
$0
USD0USD0++
0.0%
$0
Wrapped-LP-pUSDe-16OCT2025
0.0%
$0
slvlUSD
0.0%
$0CALM
upUSDC
0.0%
$0
PT-wstUSR-25SEP2025
0.0%
$0
PT-USDe-25SEP2025
0.0%
$0
PT-cUSDO-20NOV2025
0.0%
$0
RLP
0.0%
$0WATCH
yUSD
0.0%
$0CALM
srUSD
0.0%
$0WATCH
USD0++
0.0%
$0CALM
sUSDe
0.0%
$092% LTVCALM
PT-lvlUSD-25SEP2025
0.0%
$0
sUSDf
0.0%
$0
EIGEN
0.0%
$0

Source: Morpho markets

Rating breakdown

Sub-scores sorted by contribution. Each bar is relative to the top contributor.

exit_liquidity100
Asset98
bad_debt90
utilization80
oracle80
market_concentration80
Webacy code30
Protocol risk15

Score 100 (CRITICAL). Primary drivers: exit liquidity, risky collateral, high utilization.

Risk flags

Bad debtcollateral_depeg_criticalcollateral_depeggingcollateral_impairedlow_exit_liquidityOracle warningself_collateralized_drain

Recursive lending & looping

Loop exposure

0.0%

Funding regime

Perp funding rate data (healthy vs compressed/inverted) will indicate when vault yield is from stable vs stressed conditions. Coming soon.

Webacy code analysis (1 finding)

Security findings from static analysis. Critical issues (reentrancy, unchecked calls, etc.) may require attention.

delegatecall loop
5664becc
20e507be
77b82368
+2 more