Stress and exposure modeling

Bad-debt, liquidation, and exit-liquidity scenarios.

The MVP stress model is deterministic and transparent. It combines reviewed asset exposure, market utilization, collateral type buffers, redemption delays, and bridge-pause assumptions.

local fallback

Scenario

30% collateral drawdown

price-30

Bad debt at risk

$6.32B

After collateral buffers and utilization factors.

Liquidation at risk

$11.85B

Shock-adjusted exposure across mapped markets.

Exit liquidity gap

$19.55B

Liquidity haircut, delay, and bridge-pause effects.

Scenario selector

Prebuilt Phase 4 stress views from the brief.

10% broad price shockshock 10% · liquidity haircut 20% · delay 1d 30% collateral drawdownshock 30% · liquidity haircut 45% · delay 3dselected 50% liquidation stressshock 50% · liquidity haircut 65% · delay 7d Stablecoin 3% depegshock 3% · liquidity haircut 35% · delay 5d LRT slashing and withdrawal delayshock 15% · liquidity haircut 55% · delay 14d Bridge pause and cross-chain exit haltshock 8% · liquidity haircut 60% · delay 10d

Scenario output

Rows are sorted by modeled bad debt plus exit-liquidity gap.

Severity	Asset	Type	Exposure	Markets	Max cap utilization	Bad debt at risk	Liquidation at risk	Exit liquidity gap
high	WETH	wrapped	$13.60B	25	88.0%	$1.80B	$3.59B	$5.92B
high	wstETH	lst	$8.40B	15	88.0%	$1.03B	$2.22B	$3.66B
high	stETH	lst	$9.70B	3	73.0%	$991.3M	$2.12B	$3.51B
high	WBTC	wrapped	$5.50B	6	74.0%	$732.6M	$1.22B	$2.01B
high	weETH	lrt	$3.10B	11	86.0%	$575.9M	$799.8M	$1.32B
high	eETH	lrt	$2.80B	2	84.0%	$508.0M	$705.6M	$1.16B
high	cbETH	lst	$1.90B	8	81.0%	$215.5M	$461.7M	$761.8M
medium	ezETH	lrt	$1.10B	2	84.0%	$199.6M	$277.2M	$457.4M
critical	rsETH	lrt	$900.0M	4	86.0%	$167.2M	$232.2M	$383.1M
medium	rETH	lst	$1.50B	3	49.0%	$102.9M	$220.5M	$363.8M