Overview
Risks
How much debt can be issued against WBTC as collateral across lending protocols.
Maximum possible exposure to WBTC
$3.064b
$509.72m (max additional borrows against WBTC) + $2.555b (bad debt if WBTC was hacked now)
Aave V3
$1.047b at-risk exposure = $768.93m bad debt if hacked + $277.8m additional borrowable against WBTC
Compound V3
$331.56m at-risk exposure = $204.71m bad debt if hacked + $126.85m additional borrowable against WBTC
Fluid
$59.62m at-risk exposure = $20.93m bad debt if hacked + $38.69m additional borrowable against WBTC
Morpho V1
$244.8m at-risk exposure = $210.66m bad debt if hacked + $34.14m additional borrowable against WBTC
SparkLend
$66.36m at-risk exposure = $42.65m bad debt if hacked + $23.71m additional borrowable against WBTC
Euler V2
$6.19m at-risk exposure = $250,460.3 bad debt if hacked + $5.93m additional borrowable against WBTC
Neverland
$2.6m at-risk exposure = -- bad debt if hacked + $2.6m additional borrowable against WBTC
Maple
$1.307b at-risk exposure = $1.307b bad debt if hacked + $0 additional borrowable against WBTC
Methodology and limitations
Showing collateral exposure for WBTC on onchain. Max Borrowable uses the backend's liquidity-bounded borrow-capacity metric (`collateralMaxBorrowUsdLiquidity`) for the maximum additional USD debt that can be issued against the asset right now. Bad Debt at $0 is the minimum known bad debt if the collateral asset price goes to zero; null rows are excluded from this total rather than treated as zero, so totals may remain lower bounds.
- These metrics describe lending exposure only and are not a full protocol risk rating.
- This view does not include multisigs, timelocks, audits, oracle incidents, listing discussions, curator reports, or protocol backstops.
- Chain-specific drilldown is exact only when the token resolves to a concrete chain:address.
- Bad debt at $0 is a lower bound when some contributing markets return null for zero-price bad debt; null rows are excluded instead of being treated as zero.
Show exposure details
Each row is one protocol-chain exposure for WBTC as collateral. Bad debt at $0 totals remain lower bounds when a row is marked partial.
Markets
Token Usage
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Liquidations
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