RiskDAO summarized report (3/11/2022)

Gearbox v2 went live this week, and we are happy to announce that the RiskDAO dashboard monitor is also live here.
As we previously explained the dashboard monitors the existing accounts, and also try to recommend risk parameters that would fit for different accounts composition and for future growth in number of accounts.

Overall, the system is currently in healthy condition, and so far the only improvement suggestion is our GIP-27.

Below is a summary for each of the pools.

DAI

CA composition

The CAs are composed only from stable assets leveraging (and a tiny $1.6 CVX account).

Risk params

The total amount of assets is around $12m, which with current DEX liquidity can be liquidated in full with a single trade. Hene, with the current account composition the current liqudiation threshold are perfectly fine.

With the current DEX liquidity and asset volatility, we expect parameters change would only be required once the LUSD collateral exceeds $100m, and sUSD exceeds $50m. We will share more information on how we model stable collateral vs stable debt next week.

The price orale is on par with the real prices. sUSD price on centeralized exchanges diviates from the oracle price, however most of sUSD liquidity is on decenteralized exchanges, and the price there matches the oracle price.

USDC

CA composition

The CAs are composed mostly from stable assets leveraging, and around $0.6M of volatile assets.

Risk params

The total amount of assets is around $35m, which with current DEX liquidity can be liquidated in full with a single trade. Hene, with the current account composition the current liqudiation threshold are perfectly fine.

With the current DEX liquidity and asset volatility, we expect parameters change would only be required once the LUSD collateral exceeds $100m, and sUSD exceeds $50m.
The price orale is on par with the real prices. sUSD price on centeralized exchanges diviates from the oracle price, however most of sUSD liquidity is on decenteralized exchanges, and the price there matches the oracle price.

ETH

Asset composition

Over 95% of the collateral is stETH or WETH based assets.

Risk params

stETH has a history of price deppeging, and thus some liquidations are expected if price would to deppeg again. But at this point only $1.1M liquidations. Which could be easily absorbed in the existing stETH/ETH dex liquidity.

With the current stETH liquidity, we expect that the current risk params would suffice even for qty that is bigger than $100M.

WBTC

Currently there are no v2 credit accounts in the WBTC pool.

wstETH

Asset composition

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Currently there is only one credit account in this market, with size of roughly $1M.
It seems that currently the user would be better off managing his account over the WETH pool.

Risk params

With the current dex liquidity, we expect that the current risk params would suffice even for qty that is bigger than $100M.

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