Weekly RiskDAO report 3 Mar ‘23

All referenced data can be accessed directly on the Gearbox dashboard by RiskDAO.


Jump Crypto recovered $140m from the Wormhole exploit. Jump together with Oasis (a MakerDAO front-end) upgraded a contract on behalf of a court order in order to retrieve stolen funds the exploiter deposited. This sets a precedent as it shows that upgradeable contracts can be changed by the admin key holder/MultiSigs and that court orders (or governmental intervention) can be executed in smart contracts.

In another success for law enforcement against crypto hackers, French police arrested the Platypus hackers.

Over on BSC, there was a significant BNB liquidation overhang on money market Venus. Had BNB crashed to $220, $200m in liquidations would have happened. Interestingly enough, the BNB ended up on Venus also as a result of another hack deposit.

Stablecoin monitoring

GUSD liquidity slightly from $34m to $32.5m. sUSD liquidity also declined somewhat from $24.2m to $23.9m. LUSD recovered from $23.7m to $26.9m. sUSD backing recovered to 470% from 387%. LUSD backing amounts to 264% (up from 261%).

DEX liquidity for all other stablecoins remained largely unchanged.

There are no material oracle deviations between DEX and CEX prices.


stkcvxcrvPlain3andSUSD has an outsized share within the collateral pool as it accounts for 41% (+100bps) of the total. This in itself does not pose a specific red flag but deserves extra attention to avoid concentration risk from building up.

Pools summary (weekly comparison)


Total pool size decreased from $21.7m to $19.4m. stkcvxcrvPlain3andSUSD remains the #1 asset at $12.6m (-$1m), followed by stkcvxgusd3CRV at $3.9m (-$1.2m) and yvDAI at $1.7m (unchanged).

Total debt decreased from $18.2m to $16.4m.

The pool remains predominantly collateralized by stablecoins.


Total pool collateral increased from $32.9m to $34.8m, with the largest collateral assets being stkcvxcrvPlain3andSUSD (+$2.3m to $23.1m) & stkcvxgusd3CRV (-$0.2m to $6.8m), followed by stkcvxFRAX3CRV-f at $1.7M (unchanged).

This pool also remains large backed by stablecoin assets.

Total debt increased by $1.7m to $29m.


The pool experienced an increase from $30.8m to $32.8m. The largest collateral assets are stETH (+$0.9m to $18.1m), stkcvxsteCRV (+$1.3m to $10.7m) and yvWETH (-$0.3m to $2.5m).

The pool remains collateralized by mostly ETH or staked ETH assets.

Total debt increased from $25m to $26.7m.


All credit accounts have been closed. The pool has had relatively small scale since inception with total assets of $0.14m over the last weeks.


Demand for borrowing stETH continues to be subdued with no active credit accounts. This is a continuation from the previous week.