Dependency graph

Mapped collateral and protocol risk paths.

Dependency edges connect protocols, assets, and chains into a queryable blast-radius model. The table view is intentionally explicit so analysts can inspect every assumption behind the graph.

Mapped edges

198

Typed relationships in the registry.

High impact edges

Critical and high severity dependency paths.

Entities

22 protocols, 19 assets.

Exposure

$72.66B

Protocol exposure represented in market rows.

Graph preview

A compact readout of the first mapped dependency paths.

Aave V3 deployment inherits Ethereum settlement risk

Aave V3 -> Ethereum

Compound III deployment inherits Ethereum settlement risk

Compound III -> Ethereum

Morpho Blue deployment inherits Ethereum settlement risk

Morpho Blue -> Ethereum

Spark deployment inherits Ethereum settlement risk

Spark -> Ethereum

Sky / Maker deployment inherits Ethereum settlement risk

Sky / Maker -> Ethereum

Curve deployment inherits Ethereum settlement risk

Curve -> Ethereum

Critical dependency paths

Highest-severity edges analysts should inspect first.

Severity	Direction	Edge type	Dependency path	Analyst label
critical	mapped	backs	rsETH -> WETH	rsETH is backed by restaked ETH positions
critical	mapped	bridged by	rsETH -> LayerZero	rsETH cross-chain paths can depend on LayerZero-style verification
critical	mapped	verified by	LayerZero -> Ethereum	LayerZero-linked assets need source and destination chain invariant checks
high	mapped	accepts collateral	Aave V3 -> WBTC	Aave V3 Ethereum core pool accepts WBTC as collateral or core liquidity
high	mapped	accepts collateral	Aave V3 -> weETH	Aave V3 Ethereum core pool accepts weETH as collateral or core liquidity
high	mapped	accepts collateral	Aave V3 -> USDe	Aave V3 Ethereum core pool accepts USDe as collateral or core liquidity
high	mapped	accepts collateral	Aave V3 -> weETH	Aave V3 Base core pool accepts weETH as collateral or core liquidity
high	mapped	accepts collateral	Aave V3 -> weETH	Aave V3 Arbitrum core pool accepts weETH as collateral or core liquidity
high	mapped	accepts collateral	Compound III -> WBTC	Compound III Ethereum USDC Comet accepts WBTC as collateral or core liquidity
high	mapped	accepts collateral	Morpho Blue -> sUSDe	Morpho Blue sUSDe leveraged stable markets accepts sUSDe as collateral or core liquidity
high	mapped	accepts collateral	Morpho Blue -> USDe	Morpho Blue sUSDe leveraged stable markets accepts USDe as collateral or core liquidity
high	mapped	accepts collateral	Spark -> weETH	Spark Ethereum SparkLend accepts weETH as collateral or core liquidity
high	mapped	accepts collateral	Sky / Maker -> WBTC	Sky / Maker DAI/USDS backing system accepts WBTC as collateral or core liquidity
high	mapped	accepts collateral	Uniswap V3 -> WBTC	Uniswap V3 Major Ethereum pools accepts WBTC as collateral or core liquidity
high	mapped	accepts collateral	Uniswap V3 -> weETH	Uniswap V3 Base major pools accepts weETH as collateral or core liquidity
high	mapped	accepts collateral	ether.fi -> eETH	ether.fi weETH issuance and deployments accepts eETH as collateral or core liquidity
high	mapped	accepts collateral	ether.fi -> weETH	ether.fi weETH issuance and deployments accepts weETH as collateral or core liquidity
high	mapped	accepts collateral	KelpDAO -> rsETH	KelpDAO rsETH issuance and deployments accepts rsETH as collateral or core liquidity
high	mapped	accepts collateral	Ethena -> USDe	Ethena USDe and sUSDe issuance accepts USDe as collateral or core liquidity
high	mapped	accepts collateral	Ethena -> sUSDe	Ethena USDe and sUSDe issuance accepts sUSDe as collateral or core liquidity
high	mapped	accepts collateral	Silo -> weETH	Silo Ethereum LST silos accepts weETH as collateral or core liquidity
high	mapped	wraps	weETH -> eETH	weETH wraps eETH and inherits ether.fi restaking risk
high	mapped	backs	eETH -> WETH	eETH is backed by ETH staking and restaking positions
high	mapped	backs	ezETH -> WETH	ezETH is backed by restaked ETH positions
high	mapped	wraps	sUSDe -> USDe	sUSDe wraps USDe and inherits Ethena redemption and hedge venue risk
high	mapped	backs	USDe -> USDC	USDe backing can include stable collateral and hedged positions
high	mapped	governed by	Spark -> Sky / Maker	Spark parameters and stablecoin exposure are connected to Sky governance
high	mapped	depends on	Aave V3 -> Curve	Aave liquidation assumptions depend on Curve liquidity for stablecoins and LSTs
high	mapped	depends on	ether.fi -> EigenLayer	ether.fi LRTs inherit EigenLayer restaking withdrawal and slashing assumptions
high	mapped	depends on	KelpDAO -> EigenLayer	KelpDAO rsETH inherits EigenLayer restaking assumptions
high	mapped	depends on	Pendle -> ether.fi	Pendle weETH markets inherit ether.fi redemption and restaking assumptions
high	mapped	depends on	Pendle -> Ethena	Pendle sUSDe markets inherit Ethena cooldown and backing assumptions
high	mapped	verified by	Wormhole -> Ethereum	Wormhole bridge releases should be checked against Ethereum lock or burn state

All dependency edges

Complete registry with direction, edge type, severity, and analyst label.

Severity	Direction	Edge type	Dependency path	Analyst label
critical	mapped	backs	rsETH -> WETH	rsETH is backed by restaked ETH positions
critical	mapped	bridged by	rsETH -> LayerZero	rsETH cross-chain paths can depend on LayerZero-style verification
critical	mapped	verified by	LayerZero -> Ethereum	LayerZero-linked assets need source and destination chain invariant checks
high	mapped	accepts collateral	Aave V3 -> WBTC	Aave V3 Ethereum core pool accepts WBTC as collateral or core liquidity
high	mapped	accepts collateral	Aave V3 -> weETH	Aave V3 Ethereum core pool accepts weETH as collateral or core liquidity
high	mapped	accepts collateral	Aave V3 -> USDe	Aave V3 Ethereum core pool accepts USDe as collateral or core liquidity
high	mapped	accepts collateral	Aave V3 -> weETH	Aave V3 Base core pool accepts weETH as collateral or core liquidity
high	mapped	accepts collateral	Aave V3 -> weETH	Aave V3 Arbitrum core pool accepts weETH as collateral or core liquidity
high	mapped	accepts collateral	Compound III -> WBTC	Compound III Ethereum USDC Comet accepts WBTC as collateral or core liquidity
high	mapped	accepts collateral	Morpho Blue -> sUSDe	Morpho Blue sUSDe leveraged stable markets accepts sUSDe as collateral or core liquidity
high	mapped	accepts collateral	Morpho Blue -> USDe	Morpho Blue sUSDe leveraged stable markets accepts USDe as collateral or core liquidity
high	mapped	accepts collateral	Spark -> weETH	Spark Ethereum SparkLend accepts weETH as collateral or core liquidity
high	mapped	accepts collateral	Sky / Maker -> WBTC	Sky / Maker DAI/USDS backing system accepts WBTC as collateral or core liquidity
high	mapped	accepts collateral	Uniswap V3 -> WBTC	Uniswap V3 Major Ethereum pools accepts WBTC as collateral or core liquidity
high	mapped	accepts collateral	Uniswap V3 -> weETH	Uniswap V3 Base major pools accepts weETH as collateral or core liquidity
high	mapped	accepts collateral	ether.fi -> eETH	ether.fi weETH issuance and deployments accepts eETH as collateral or core liquidity
high	mapped	accepts collateral	ether.fi -> weETH	ether.fi weETH issuance and deployments accepts weETH as collateral or core liquidity
high	mapped	accepts collateral	KelpDAO -> rsETH	KelpDAO rsETH issuance and deployments accepts rsETH as collateral or core liquidity
high	mapped	accepts collateral	Ethena -> USDe	Ethena USDe and sUSDe issuance accepts USDe as collateral or core liquidity
high	mapped	accepts collateral	Ethena -> sUSDe	Ethena USDe and sUSDe issuance accepts sUSDe as collateral or core liquidity
high	mapped	accepts collateral	Silo -> weETH	Silo Ethereum LST silos accepts weETH as collateral or core liquidity
high	mapped	wraps	weETH -> eETH	weETH wraps eETH and inherits ether.fi restaking risk
high	mapped	backs	eETH -> WETH	eETH is backed by ETH staking and restaking positions
high	mapped	backs	ezETH -> WETH	ezETH is backed by restaked ETH positions
high	mapped	wraps	sUSDe -> USDe	sUSDe wraps USDe and inherits Ethena redemption and hedge venue risk
high	mapped	backs	USDe -> USDC	USDe backing can include stable collateral and hedged positions
high	mapped	governed by	Spark -> Sky / Maker	Spark parameters and stablecoin exposure are connected to Sky governance
high	mapped	depends on	Aave V3 -> Curve	Aave liquidation assumptions depend on Curve liquidity for stablecoins and LSTs
high	mapped	depends on	ether.fi -> EigenLayer	ether.fi LRTs inherit EigenLayer restaking withdrawal and slashing assumptions
high	mapped	depends on	KelpDAO -> EigenLayer	KelpDAO rsETH inherits EigenLayer restaking assumptions
high	mapped	depends on	Pendle -> ether.fi	Pendle weETH markets inherit ether.fi redemption and restaking assumptions
high	mapped	depends on	Pendle -> Ethena	Pendle sUSDe markets inherit Ethena cooldown and backing assumptions
high	mapped	verified by	Wormhole -> Ethereum	Wormhole bridge releases should be checked against Ethereum lock or burn state
medium	mapped	settles on	USDC -> Arbitrum One	USDC deployment inherits Arbitrum One chain assumptions
medium	mapped	settles on	USDC -> Base	USDC deployment inherits Base chain assumptions
medium	mapped	settles on	USDC -> OP Mainnet	USDC deployment inherits OP Mainnet chain assumptions
medium	mapped	settles on	USDC -> Polygon PoS	USDC deployment inherits Polygon PoS chain assumptions
medium	mapped	settles on	USDT -> Arbitrum One	USDT deployment inherits Arbitrum One chain assumptions
medium	mapped	settles on	USDT -> OP Mainnet	USDT deployment inherits OP Mainnet chain assumptions
medium	mapped	settles on	USDT -> Polygon PoS	USDT deployment inherits Polygon PoS chain assumptions
medium	mapped	settles on	DAI -> Arbitrum One	DAI deployment inherits Arbitrum One chain assumptions
medium	mapped	settles on	DAI -> Base	DAI deployment inherits Base chain assumptions
medium	mapped	settles on	DAI -> OP Mainnet	DAI deployment inherits OP Mainnet chain assumptions
medium	mapped	settles on	DAI -> Polygon PoS	DAI deployment inherits Polygon PoS chain assumptions
medium	mapped	settles on	USDS -> Base	USDS deployment inherits Base chain assumptions
medium	mapped	settles on	WETH -> Arbitrum One	WETH deployment inherits Arbitrum One chain assumptions
medium	mapped	settles on	WETH -> Base	WETH deployment inherits Base chain assumptions
medium	mapped	settles on	WETH -> OP Mainnet	WETH deployment inherits OP Mainnet chain assumptions
medium	mapped	settles on	WETH -> Polygon PoS	WETH deployment inherits Polygon PoS chain assumptions
medium	mapped	settles on	WBTC -> Arbitrum One	WBTC deployment inherits Arbitrum One chain assumptions
medium	mapped	settles on	WBTC -> Base	WBTC deployment inherits Base chain assumptions
medium	mapped	settles on	WBTC -> OP Mainnet	WBTC deployment inherits OP Mainnet chain assumptions
medium	mapped	settles on	WBTC -> Polygon PoS	WBTC deployment inherits Polygon PoS chain assumptions
medium	mapped	settles on	wstETH -> Arbitrum One	wstETH deployment inherits Arbitrum One chain assumptions
medium	mapped	settles on	wstETH -> Base	wstETH deployment inherits Base chain assumptions
medium	mapped	settles on	wstETH -> OP Mainnet	wstETH deployment inherits OP Mainnet chain assumptions
medium	mapped	settles on	wstETH -> Polygon PoS	wstETH deployment inherits Polygon PoS chain assumptions
medium	mapped	settles on	cbETH -> Base	cbETH deployment inherits Base chain assumptions
medium	mapped	settles on	rETH -> Arbitrum One	rETH deployment inherits Arbitrum One chain assumptions
medium	mapped	settles on	rETH -> OP Mainnet	rETH deployment inherits OP Mainnet chain assumptions
medium	mapped	settles on	weETH -> Arbitrum One	weETH deployment inherits Arbitrum One chain assumptions
medium	mapped	settles on	weETH -> Base	weETH deployment inherits Base chain assumptions
medium	mapped	settles on	rsETH -> Arbitrum One	rsETH deployment inherits Arbitrum One chain assumptions
medium	mapped	settles on	rsETH -> Base	rsETH deployment inherits Base chain assumptions
medium	mapped	settles on	ezETH -> Arbitrum One	ezETH deployment inherits Arbitrum One chain assumptions
medium	mapped	settles on	ezETH -> Base	ezETH deployment inherits Base chain assumptions
medium	mapped	settles on	USDe -> Arbitrum One	USDe deployment inherits Arbitrum One chain assumptions
medium	mapped	settles on	USDe -> Base	USDe deployment inherits Base chain assumptions
medium	mapped	settles on	sUSDe -> Arbitrum One	sUSDe deployment inherits Arbitrum One chain assumptions
medium	mapped	settles on	FRAX -> Arbitrum One	FRAX deployment inherits Arbitrum One chain assumptions
medium	mapped	settles on	FRAX -> OP Mainnet	FRAX deployment inherits OP Mainnet chain assumptions
medium	mapped	settles on	FRAX -> Polygon PoS	FRAX deployment inherits Polygon PoS chain assumptions
medium	mapped	settles on	crvUSD -> Arbitrum One	crvUSD deployment inherits Arbitrum One chain assumptions
medium	mapped	accepts collateral	Aave V3 -> wstETH	Aave V3 Ethereum core pool accepts wstETH as collateral or core liquidity
medium	mapped	accepts collateral	Aave V3 -> USDC	Aave V3 Ethereum core pool accepts USDC as collateral or core liquidity
medium	mapped	accepts collateral	Aave V3 -> USDC	Aave V3 Base core pool accepts USDC as collateral or core liquidity
medium	mapped	accepts collateral	Aave V3 -> wstETH	Aave V3 Arbitrum core pool accepts wstETH as collateral or core liquidity
medium	mapped	accepts collateral	Aave V3 -> USDC	Aave V3 Arbitrum core pool accepts USDC as collateral or core liquidity
medium	mapped	accepts collateral	Aave V3 -> USDT	Aave V3 Arbitrum core pool accepts USDT as collateral or core liquidity
medium	mapped	accepts collateral	Compound III -> wstETH	Compound III Ethereum USDC Comet accepts wstETH as collateral or core liquidity
medium	mapped	accepts collateral	Compound III -> USDC	Compound III Base USDC Comet accepts USDC as collateral or core liquidity
medium	mapped	accepts collateral	Morpho Blue -> wstETH	Morpho Blue wstETH/USDC vault markets accepts wstETH as collateral or core liquidity
medium	mapped	accepts collateral	Morpho Blue -> USDC	Morpho Blue wstETH/USDC vault markets accepts USDC as collateral or core liquidity
medium	mapped	accepts collateral	Morpho Blue -> USDC	Morpho Blue Base cbETH/USDC markets accepts USDC as collateral or core liquidity
medium	mapped	accepts collateral	Morpho Blue -> USDC	Morpho Blue sUSDe leveraged stable markets accepts USDC as collateral or core liquidity
medium	mapped	accepts collateral	Spark -> wstETH	Spark Ethereum SparkLend accepts wstETH as collateral or core liquidity
medium	mapped	accepts collateral	Spark -> USDC	Spark Base stable markets accepts USDC as collateral or core liquidity
medium	mapped	accepts collateral	Sky / Maker -> USDC	Sky / Maker DAI/USDS backing system accepts USDC as collateral or core liquidity
medium	mapped	accepts collateral	Sky / Maker -> wstETH	Sky / Maker DAI/USDS backing system accepts wstETH as collateral or core liquidity
medium	mapped	accepts collateral	Curve -> USDC	Curve Stablecoin pools accepts USDC as collateral or core liquidity
medium	mapped	accepts collateral	Curve -> USDT	Curve Stablecoin pools accepts USDT as collateral or core liquidity
medium	mapped	accepts collateral	Curve -> stETH	Curve ETH LST pools accepts stETH as collateral or core liquidity
medium	mapped	accepts collateral	Curve -> wstETH	Curve ETH LST pools accepts wstETH as collateral or core liquidity
medium	mapped	accepts collateral	Uniswap V3 -> USDC	Uniswap V3 Major Ethereum pools accepts USDC as collateral or core liquidity
medium	mapped	accepts collateral	Uniswap V3 -> USDT	Uniswap V3 Major Ethereum pools accepts USDT as collateral or core liquidity
medium	mapped	accepts collateral	Uniswap V3 -> wstETH	Uniswap V3 Major Ethereum pools accepts wstETH as collateral or core liquidity
medium	mapped	accepts collateral	Uniswap V3 -> USDC	Uniswap V3 Base major pools accepts USDC as collateral or core liquidity
medium	mapped	accepts collateral	Lido -> stETH	Lido stETH/wstETH issuance accepts stETH as collateral or core liquidity
medium	mapped	accepts collateral	Lido -> wstETH	Lido stETH/wstETH issuance accepts wstETH as collateral or core liquidity
medium	mapped	accepts collateral	KelpDAO -> stETH	KelpDAO rsETH issuance and deployments accepts stETH as collateral or core liquidity
medium	mapped	accepts collateral	Ethena -> USDC	Ethena USDe and sUSDe issuance accepts USDC as collateral or core liquidity
medium	mapped	accepts collateral	Ethena -> USDT	Ethena USDe and sUSDe issuance accepts USDT as collateral or core liquidity
medium	mapped	accepts collateral	Frax Finance -> USDC	Frax Finance FRAX stablecoin and lending accepts USDC as collateral or core liquidity
medium	mapped	accepts collateral	Frax Finance -> USDT	Frax Finance FRAX stablecoin and lending accepts USDT as collateral or core liquidity
medium	mapped	accepts collateral	Silo -> wstETH	Silo Ethereum LST silos accepts wstETH as collateral or core liquidity
medium	mapped	wraps	wstETH -> stETH	wstETH wraps stETH and inherits Lido withdrawal assumptions
medium	mapped	backs	stETH -> WETH	stETH value depends on staked ETH redemption
medium	mapped	backs	USDe -> USDT	USDe hedge and collateral venues can reference USDT liquidity
medium	mapped	backs	DAI -> USDC	DAI has historically depended on stablecoin and peg-module liquidity
medium	mapped	wraps	USDS -> DAI	USDS migration and conversion paths inherit Sky/Maker stablecoin assumptions
medium	mapped	depends on	crvUSD -> Curve	crvUSD depends on Curve liquidation and liquidity infrastructure
medium	mapped	governed by	FRAX -> Frax Finance	FRAX depends on Frax governance and AMO policy
medium	mapped	issued by	cbETH -> Coinbase cbETH	cbETH is issued through Coinbase staking operations
medium	mapped	issued by	rETH -> Rocket Pool	rETH is issued by Rocket Pool staking contracts
medium	mapped	depends on	WBTC -> WETH	WBTC liquidation depth depends on ETH and stablecoin markets during stress
medium	mapped	depends on	PYUSD -> USDC	PYUSD liquidity often routes through major USD stablecoin markets
medium	mapped	governed by	Aave V3 -> Ethereum	Aave governance and payload execution ultimately depend on Ethereum governance contracts
medium	mapped	governed by	Compound III -> Ethereum	Compound governance depends on Ethereum Governor and timelock execution
medium	mapped	governed by	Morpho Blue -> Ethereum	Morpho vault and protocol governance paths inherit Ethereum execution risk
medium	mapped	priced by	Sky / Maker -> Ethereum	Sky collateral modules depend on Ethereum oracle and OSM update paths
medium	mapped	depends on	Morpho Blue -> Uniswap V3	Morpho liquidation and oracle review includes Uniswap liquidity surfaces
medium	mapped	settles on	Across -> Ethereum	Across cross-chain settlement ultimately references Ethereum settlement and liquidity
low	mapped	settles on	Aave V3 -> Ethereum	Aave V3 deployment inherits Ethereum settlement risk
low	mapped	settles on	Compound III -> Ethereum	Compound III deployment inherits Ethereum settlement risk
low	mapped	settles on	Morpho Blue -> Ethereum	Morpho Blue deployment inherits Ethereum settlement risk
low	mapped	settles on	Spark -> Ethereum	Spark deployment inherits Ethereum settlement risk
low	mapped	settles on	Sky / Maker -> Ethereum	Sky / Maker deployment inherits Ethereum settlement risk
low	mapped	settles on	Curve -> Ethereum	Curve deployment inherits Ethereum settlement risk
low	mapped	settles on	Uniswap V3 -> Ethereum	Uniswap V3 deployment inherits Ethereum settlement risk
low	mapped	settles on	Lido -> Ethereum	Lido deployment inherits Ethereum settlement risk
low	mapped	settles on	ether.fi -> Ethereum	ether.fi deployment inherits Ethereum settlement risk
low	mapped	settles on	KelpDAO -> Ethereum	KelpDAO deployment inherits Ethereum settlement risk
low	mapped	settles on	Ethena -> Ethereum	Ethena deployment inherits Ethereum settlement risk
low	mapped	settles on	Frax Finance -> Ethereum	Frax Finance deployment inherits Ethereum settlement risk
low	mapped	settles on	Silo -> Ethereum	Silo deployment inherits Ethereum settlement risk
low	mapped	settles on	Euler V2 -> Ethereum	Euler V2 deployment inherits Ethereum settlement risk
low	mapped	settles on	Pendle -> Ethereum	Pendle deployment inherits Ethereum settlement risk
low	mapped	settles on	Balancer -> Ethereum	Balancer deployment inherits Ethereum settlement risk
low	mapped	settles on	Coinbase cbETH -> Ethereum	Coinbase cbETH deployment inherits Ethereum settlement risk
low	mapped	settles on	Rocket Pool -> Ethereum	Rocket Pool deployment inherits Ethereum settlement risk
low	mapped	settles on	EigenLayer -> Ethereum	EigenLayer deployment inherits Ethereum settlement risk
low	mapped	settles on	LayerZero -> Ethereum	LayerZero deployment inherits Ethereum settlement risk
low	mapped	settles on	Wormhole -> Ethereum	Wormhole deployment inherits Ethereum settlement risk
low	mapped	settles on	Across -> Ethereum	Across deployment inherits Ethereum settlement risk
low	mapped	settles on	USDC -> Ethereum	USDC deployment inherits Ethereum chain assumptions
low	mapped	settles on	USDT -> Ethereum	USDT deployment inherits Ethereum chain assumptions
low	mapped	settles on	DAI -> Ethereum	DAI deployment inherits Ethereum chain assumptions
low	mapped	settles on	USDS -> Ethereum	USDS deployment inherits Ethereum chain assumptions
low	mapped	settles on	WETH -> Ethereum	WETH deployment inherits Ethereum chain assumptions
low	mapped	settles on	WBTC -> Ethereum	WBTC deployment inherits Ethereum chain assumptions
low	mapped	settles on	stETH -> Ethereum	stETH deployment inherits Ethereum chain assumptions
low	mapped	settles on	wstETH -> Ethereum	wstETH deployment inherits Ethereum chain assumptions
low	mapped	settles on	cbETH -> Ethereum	cbETH deployment inherits Ethereum chain assumptions
low	mapped	settles on	rETH -> Ethereum	rETH deployment inherits Ethereum chain assumptions
low	mapped	settles on	eETH -> Ethereum	eETH deployment inherits Ethereum chain assumptions
low	mapped	settles on	weETH -> Ethereum	weETH deployment inherits Ethereum chain assumptions
low	mapped	settles on	rsETH -> Ethereum	rsETH deployment inherits Ethereum chain assumptions
low	mapped	settles on	ezETH -> Ethereum	ezETH deployment inherits Ethereum chain assumptions
low	mapped	settles on	USDe -> Ethereum	USDe deployment inherits Ethereum chain assumptions
low	mapped	settles on	sUSDe -> Ethereum	sUSDe deployment inherits Ethereum chain assumptions
low	mapped	settles on	FRAX -> Ethereum	FRAX deployment inherits Ethereum chain assumptions
low	mapped	settles on	crvUSD -> Ethereum	crvUSD deployment inherits Ethereum chain assumptions
low	mapped	settles on	PYUSD -> Ethereum	PYUSD deployment inherits Ethereum chain assumptions
low	mapped	accepts collateral	Aave V3 -> WETH	Aave V3 Ethereum core pool accepts WETH as collateral or core liquidity
low	mapped	accepts collateral	Aave V3 -> WETH	Aave V3 Base core pool accepts WETH as collateral or core liquidity
low	mapped	accepts collateral	Aave V3 -> cbETH	Aave V3 Base core pool accepts cbETH as collateral or core liquidity
low	mapped	accepts collateral	Aave V3 -> WETH	Aave V3 Arbitrum core pool accepts WETH as collateral or core liquidity
low	mapped	accepts collateral	Compound III -> WETH	Compound III Ethereum USDC Comet accepts WETH as collateral or core liquidity
low	mapped	accepts collateral	Compound III -> cbETH	Compound III Ethereum USDC Comet accepts cbETH as collateral or core liquidity
low	mapped	accepts collateral	Compound III -> WETH	Compound III Base USDC Comet accepts WETH as collateral or core liquidity
low	mapped	accepts collateral	Compound III -> cbETH	Compound III Base USDC Comet accepts cbETH as collateral or core liquidity
low	mapped	accepts collateral	Morpho Blue -> WETH	Morpho Blue wstETH/USDC vault markets accepts WETH as collateral or core liquidity
low	mapped	accepts collateral	Morpho Blue -> cbETH	Morpho Blue Base cbETH/USDC markets accepts cbETH as collateral or core liquidity
low	mapped	accepts collateral	Morpho Blue -> WETH	Morpho Blue Base cbETH/USDC markets accepts WETH as collateral or core liquidity
low	mapped	accepts collateral	Spark -> DAI	Spark Ethereum SparkLend accepts DAI as collateral or core liquidity
low	mapped	accepts collateral	Spark -> USDS	Spark Ethereum SparkLend accepts USDS as collateral or core liquidity
low	mapped	accepts collateral	Spark -> WETH	Spark Ethereum SparkLend accepts WETH as collateral or core liquidity
low	mapped	accepts collateral	Spark -> USDS	Spark Base stable markets accepts USDS as collateral or core liquidity
low	mapped	accepts collateral	Spark -> WETH	Spark Base stable markets accepts WETH as collateral or core liquidity
low	mapped	accepts collateral	Sky / Maker -> DAI	Sky / Maker DAI/USDS backing system accepts DAI as collateral or core liquidity
low	mapped	accepts collateral	Sky / Maker -> USDS	Sky / Maker DAI/USDS backing system accepts USDS as collateral or core liquidity
low	mapped	accepts collateral	Sky / Maker -> WETH	Sky / Maker DAI/USDS backing system accepts WETH as collateral or core liquidity
low	mapped	accepts collateral	Curve -> DAI	Curve Stablecoin pools accepts DAI as collateral or core liquidity
low	mapped	accepts collateral	Curve -> USDS	Curve Stablecoin pools accepts USDS as collateral or core liquidity
low	mapped	accepts collateral	Curve -> FRAX	Curve Stablecoin pools accepts FRAX as collateral or core liquidity
low	mapped	accepts collateral	Curve -> crvUSD	Curve Stablecoin pools accepts crvUSD as collateral or core liquidity
low	mapped	accepts collateral	Curve -> WETH	Curve ETH LST pools accepts WETH as collateral or core liquidity
low	mapped	accepts collateral	Curve -> rETH	Curve ETH LST pools accepts rETH as collateral or core liquidity
low	mapped	accepts collateral	Curve -> cbETH	Curve ETH LST pools accepts cbETH as collateral or core liquidity
low	mapped	accepts collateral	Uniswap V3 -> WETH	Uniswap V3 Major Ethereum pools accepts WETH as collateral or core liquidity
low	mapped	accepts collateral	Uniswap V3 -> WETH	Uniswap V3 Base major pools accepts WETH as collateral or core liquidity
low	mapped	accepts collateral	Uniswap V3 -> cbETH	Uniswap V3 Base major pools accepts cbETH as collateral or core liquidity
low	mapped	accepts collateral	Lido -> WETH	Lido stETH/wstETH issuance accepts WETH as collateral or core liquidity
low	mapped	accepts collateral	ether.fi -> WETH	ether.fi weETH issuance and deployments accepts WETH as collateral or core liquidity
low	mapped	accepts collateral	KelpDAO -> WETH	KelpDAO rsETH issuance and deployments accepts WETH as collateral or core liquidity
low	mapped	accepts collateral	Frax Finance -> FRAX	Frax Finance FRAX stablecoin and lending accepts FRAX as collateral or core liquidity
low	mapped	accepts collateral	Frax Finance -> WETH	Frax Finance FRAX stablecoin and lending accepts WETH as collateral or core liquidity
low	mapped	accepts collateral	Silo -> WETH	Silo Ethereum LST silos accepts WETH as collateral or core liquidity

Market dependency surface

Protocol markets connected to accepted collateral, oracles, and caps.

32 markets

Protocol	Market	Chain	Collateral	Oracles	LTV	Supply cap	Borrow cap	Utilization
Aave V3	Ethereum core pool	Ethereum	WETH wstETH USDC WBTC weETH USDe	oracle:ethereum:chainlink:eth-usd, oracle:ethereum:chainlink:usdc-usd, oracle:ethereum:exchange-rate-lsts	78%	$8.00B	$5.20B	74.0%
Aave V3	Base core pool	Base	WETH USDC cbETH weETH	oracle:base:chainlink:eth-usd, oracle:base:chainlink:usdc-usd	75%	$2.60B	$1.50B	69.0%
Aave V3	Arbitrum core pool	Arbitrum One	WETH wstETH USDC USDT weETH	oracle:arbitrum:chainlink:eth-usd, oracle:arbitrum:chainlink:stablecoins	75%	$3.40B	$2.10B	72.0%
Compound III	Ethereum USDC Comet	Ethereum	WETH wstETH WBTC cbETH	oracle:ethereum:chainlink:eth-usd, oracle:ethereum:chainlink:btc-usd	79%	$1.30B	$900.0M	67.0%
Compound III	Base USDC Comet	Base	WETH cbETH USDC	oracle:base:chainlink:eth-usd, oracle:base:chainlink:usdc-usd	76%	$850.0M	$540.0M	81.0%
Morpho Blue	wstETH/USDC vault markets	Ethereum	wstETH WETH USDC	oracle:ethereum:chainlink:wsteth-eth, oracle:ethereum:chainlink:usdc-usd	77%	$2.10B	$1.40B	88.0%
Morpho Blue	Base cbETH/USDC markets	Base	cbETH WETH USDC	oracle:base:chainlink:cbeth-eth, oracle:base:chainlink:eth-usd	72%	$900.0M	$520.0M	76.0%
Morpho Blue	sUSDe leveraged stable markets	Ethereum	sUSDe USDe USDC	oracle:ethereum:ethena:usde-usd, oracle:ethereum:chainlink:stablecoins	72%	$1.00B	$700.0M	90.0%
Spark	Ethereum SparkLend	Ethereum	DAI USDS WETH wstETH weETH	oracle:ethereum:chainlink:eth-usd, oracle:ethereum:sky:stable-module	76%	$2.90B	$1.90B	71.0%
Spark	Base stable markets	Base	USDC USDS WETH	oracle:base:chainlink:stablecoins, oracle:base:chainlink:eth-usd	75%	$780.0M	$450.0M	58.0%
Sky / Maker	DAI/USDS backing system	Ethereum	DAI USDS USDC WETH WBTC wstETH	oracle:ethereum:sky:osm, oracle:ethereum:chainlink:collateral	66%	$6.00B	$3.80B	62.0%
Curve	Stablecoin pools	Ethereum	USDC USDT DAI USDS FRAX crvUSD	oracle:ethereum:pool-implied:stablecoins	0%	$1.90B	$0	52.0%
Curve	ETH LST pools	Ethereum	WETH stETH wstETH rETH cbETH	oracle:ethereum:pool-implied:eth-lsts	0%	$1.20B	$0	49.0%
Uniswap V3	Major Ethereum pools	Ethereum	WETH USDC USDT WBTC wstETH	oracle:ethereum:uniswap-v3:twap	0%	$2.40B	$0	57.0%
Uniswap V3	Base major pools	Base	WETH USDC cbETH weETH	oracle:base:uniswap-v3:twap	0%	$820.0M	$0	61.0%
Lido	stETH/wstETH issuance	Ethereum	stETH wstETH WETH	oracle:ethereum:lido:accounting-oracle	0%	$12.00B	$0	44.0%
ether.fi	weETH issuance and deployments	Ethereum	eETH weETH WETH	oracle:ethereum:etherfi:exchange-rate	0%	$3.20B	$0	68.0%
KelpDAO	rsETH issuance and deployments	Ethereum	rsETH WETH stETH	oracle:ethereum:kelp:rseth-rate	0%	$880.0M	$0	73.0%
Ethena	USDe and sUSDe issuance	Ethereum	USDe sUSDe USDC USDT	oracle:ethereum:ethena:usde-usd	0%	$4.40B	$0	77.0%
Frax Finance	FRAX stablecoin and lending	Ethereum	FRAX USDC USDT WETH	oracle:ethereum:frax:oracle, oracle:ethereum:chainlink:stablecoins	72%	$900.0M	$520.0M	63.0%
Silo	Ethereum LST silos	Ethereum	WETH wstETH weETH USDC	oracle:ethereum:chainlink:eth-usd, oracle:ethereum:lsts	70%	$360.0M	$230.0M	66.0%
Silo	Arbitrum stable silos	Arbitrum One	USDC USDT WETH	oracle:arbitrum:chainlink:stablecoins	72%	$190.0M	$90.0M	52.0%
Euler V2	Ethereum EVK vaults	Ethereum	WETH wstETH USDC USDe sUSDe	oracle:ethereum:euler:adapter, oracle:ethereum:chainlink	74%	$780.0M	$490.0M	70.0%
Pendle	LST and LRT yield markets	Ethereum	wstETH weETH rsETH ezETH sUSDe	oracle:ethereum:pendle:implied-rate, oracle:ethereum:chainlink	0%	$2.30B	$0	81.0%
Pendle	Arbitrum yield markets	Arbitrum One	wstETH weETH USDe sUSDe	oracle:arbitrum:pendle:implied-rate	0%	$820.0M	$0	74.0%
Balancer	Ethereum boosted LST pools	Ethereum	WETH wstETH rETH cbETH USDC	oracle:ethereum:balancer:rate-providers	0%	$620.0M	$0	47.0%
Coinbase cbETH	cbETH issuance and markets	Base	cbETH WETH USDC	oracle:base:chainlink:cbeth-eth	0%	$1.40B	$0	55.0%
Rocket Pool	rETH issuance and liquidity	Ethereum	rETH WETH	oracle:ethereum:rocketpool:rate	0%	$1.10B	$0	46.0%
EigenLayer	Restaked ETH dependencies	Ethereum	eETH weETH rsETH ezETH wstETH	oracle:ethereum:eigenlayer:operator-state	0%	$7.40B	$0	84.0%
LayerZero	OFT-linked collateral paths	Ethereum	rsETH weETH USDe USDC	monitor:cross-chain:burn-release-invariant	0%	$1.30B	$0	86.0%
Wormhole	Bridged asset routes	Ethereum	USDC USDT WETH WBTC	monitor:bridge:guardian-config	0%	$900.0M	$0	64.0%
Across	Cross-chain bridge liquidity	Ethereum	USDC USDT WETH WBTC	monitor:bridge:relayer-liquidity	0%	$640.0M	$0	58.0%

Protocol blast radius

Exposure and dependency concentration by protocol.

Protocol	Exposure	Dependencies	Critical	Findings	Review
Lido	$12.70B	10	1	high	reviewed
Aave V3	$9.40B	29	1	highmedium	reviewed
EigenLayer	$7.80B	8	1	high	under review
Sky / Maker	$6.90B	12	1	highmedium	reviewed
Ethena	$4.90B	9	1	high	partial
Morpho Blue	$3.90B	19	1	highmedium	partial
ether.fi	$3.40B	8	1	high	under review
Uniswap V3	$3.20B	17	0	medium	partial
Spark	$2.80B	15	0	medium	partial
Pendle	$2.60B	15	0	medium	partial
Curve	$2.30B	19	1	high	partial
Coinbase cbETH	$1.90B	7	0	medium	partial
Compound III	$1.70B	16	0	medium	partial
LayerZero	$1.60B	11	1	critical	under review
Rocket Pool	$1.50B	7	0	medium	partial
Frax Finance	$1.20B	11	0	medium	partial
Wormhole	$1.10B	11	1	high	under review
KelpDAO	$980.0M	9	2	criticalhigh	under review
Euler V2	$830.0M	9	0	medium	under review
Balancer	$780.0M	10	0	medium	partial
Across	$750.0M	11	0	medium	partial
Silo	$420.0M	13	0	medium	under review

Asset blast radius

Issuer and deployment concentration by collateral asset.

Asset	Issuer	Type	Exposure	Deployments	Findings	Review
WETH	WETH contract	wrapped	$13.60B	Ethereum, Arbitrum One, Base, OP Mainnet, Polygon PoS	1	reviewed
USDC	Circle	stablecoin	$10.80B	Ethereum, Arbitrum One, Base, OP Mainnet, Polygon PoS	2	reviewed
stETH	Lido DAO	lst	$9.70B	Ethereum	1	reviewed
wstETH	Lido DAO	lst	$8.40B	Ethereum, Arbitrum One, Base, OP Mainnet, Polygon PoS	1	reviewed
USDT	Tether	stablecoin	$6.20B	Ethereum, Arbitrum One, OP Mainnet, Polygon PoS	2	partial
WBTC	WBTC merchants and custodian network	wrapped	$5.50B	Ethereum, Arbitrum One, Base, OP Mainnet, Polygon PoS	1	partial
USDe	Ethena	stablecoin	$4.20B	Ethereum, Arbitrum One, Base	1	partial
DAI	MakerDAO / Sky	stablecoin	$3.80B	Ethereum, Arbitrum One, Base, OP Mainnet, Polygon PoS	2	reviewed
sUSDe	Ethena	stablecoin	$3.70B	Ethereum, Arbitrum One	1	partial
weETH	ether.fi	lrt	$3.10B	Ethereum, Arbitrum One, Base	1	under review
eETH	ether.fi	lrt	$2.80B	Ethereum	1	under review
cbETH	Coinbase	lst	$1.90B	Ethereum, Base	1	partial
rETH	Rocket Pool	lst	$1.50B	Ethereum, Arbitrum One, OP Mainnet	1	partial
USDS	Sky	stablecoin	$1.10B	Ethereum, Base	1	under review
ezETH	Renzo	lrt	$1.10B	Ethereum, Arbitrum One, Base	1	under review
rsETH	KelpDAO	lrt	$900.0M	Ethereum, Arbitrum One, Base	2	under review
FRAX	Frax Finance	stablecoin	$850.0M	Ethereum, Arbitrum One, OP Mainnet, Polygon PoS	1	partial
crvUSD	Curve Finance	stablecoin	$620.0M	Ethereum, Arbitrum One	1	partial
PYUSD	Paxos / PayPal	stablecoin	$310.0M	Ethereum	1	under review

Source coverage

Protocol and asset records should carry source links before review completion.

41 entities

Entity	Type	Source count	Primary links	Review
Aave V3	protocol	2	Aave docs DeFiLlama	reviewed
Compound III	protocol	2	Compound docs DeFiLlama	partial
Morpho Blue	protocol	2	Morpho docs DeFiLlama	partial
Spark	protocol	3	Spark docs Sky docs DeFiLlama	partial
Sky / Maker	protocol	2	Sky docs DeFiLlama	reviewed
Curve	protocol	2	Curve docs DeFiLlama	partial
Uniswap V3	protocol	2	Uniswap docs DeFiLlama	partial
Lido	protocol	2	Lido docs DeFiLlama	reviewed
ether.fi	protocol	3	ether.fi docs EigenLayer docs DeFiLlama	under review
KelpDAO	protocol	3	KelpDAO docs LayerZero docs DeFiLlama	under review
Ethena	protocol	2	Ethena docs DeFiLlama	partial
Frax Finance	protocol	2	Frax docs DeFiLlama	partial
Silo	protocol	2	Silo docs DeFiLlama	under review
Euler V2	protocol	2	Euler docs DeFiLlama	under review
Pendle	protocol	2	Pendle docs DeFiLlama	partial
Balancer	protocol	2	Balancer docs DeFiLlama	partial
Coinbase cbETH	protocol	2	Coinbase cbETH DeFiLlama	partial
Rocket Pool	protocol	2	Rocket Pool docs DeFiLlama	partial
EigenLayer	protocol	2	EigenLayer docs DeFiLlama	under review
LayerZero	protocol	2	LayerZero docs DeFiLlama	under review
Wormhole	protocol	2	Wormhole docs DeFiLlama	under review
Across	protocol	2	Across docs DeFiLlama	partial
USDC	asset	2	Circle USDC docs DeFiLlama	reviewed
USDT	asset	2	Tether transparency DeFiLlama	partial
DAI	asset	2	Sky docs DeFiLlama	reviewed
USDS	asset	2	Sky docs DeFiLlama	under review
WETH	asset	1	DeFiLlama	reviewed
WBTC	asset	2	WBTC network DeFiLlama	partial
stETH	asset	2	Lido docs DeFiLlama	reviewed
wstETH	asset	2	Lido docs DeFiLlama	reviewed
cbETH	asset	2	Coinbase cbETH DeFiLlama	partial
rETH	asset	2	Rocket Pool docs DeFiLlama	partial
eETH	asset	3	ether.fi docs EigenLayer docs DeFiLlama	under review
weETH	asset	2	ether.fi docs DeFiLlama	under review
rsETH	asset	3	KelpDAO docs LayerZero docs DeFiLlama	under review
ezETH	asset	2	EigenLayer docs DeFiLlama	under review
USDe	asset	2	Ethena docs DeFiLlama	partial
sUSDe	asset	2	Ethena docs DeFiLlama	partial
FRAX	asset	2	Frax docs DeFiLlama	partial
crvUSD	asset	2	Curve docs DeFiLlama	partial
PYUSD	asset	2	PYUSD DeFiLlama	under review