risk managerGauntletcomp.xyz
↓Compound v2 Deprecation: Collateral Factor Decreases
The deprecation of Compound v2 requires reducing SUSHI's collateral factor to 0%, effectively delisting it as collateral to curb exposure in the legacy system.
Overview
Sushi(SUSHI)
Token Price$0.22
24h Change+8.23%
All Time HighMar 13, 2021$23.38
All Time LowFeb 6, 2026$0.18
Key Metrics
Market Cap$60.83m
Fully Diluted Valuation$64.95m
Circ. Supply273.01m SUSHI
Outstanding FDV$64.95m
Volume 24h$93.55m
CEX Volume$75.04m
DEX Volume$18.72m
Token Liquidity$4.6m
SushiSwap · Ethereum$3.58m
SushiSwap V3 · Ethereum$421,650
Uniswap V2 · Ethereum$359,129
SushiSwap · Arbitrum$114,749
SushiSwap · Polygon$72,570
Uniswap V3 · Ethereum$29,495
Treasury$128,934
Majors$18,539
Stablecoins$0.019
Own Tokens$110,378
Others$16.39
Income Statement for Sushi
| Q2 2026* | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 | Q2 2021 | Q1 2021 | Q4 2020 | Q3 2020 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Gross Protocol Revenue | $1.05M | $1.54M | $17.56M | $11.54M | $1.87M | $4.25M | $4.95M | $2.59M | $5.91M | $7.51M | $6.11M | $4.19M | $6.31M | $25.03M | $12.21M | $15.29M | $36.03M | $85.06M | $154.63M | $93.80M | $164.48M | $109.21M | $17.80M | $6.75M |
| Token Swap Fees | $96.77K | |||||||||||||||||||||||
Cost of Revenue | $747.91K | $1.46M | $14.87M | $7.87M | $977.99K | $1.68M | $2.51M | $2.10M | $5.06M | $6.44M | $5.63M | $3.60M | $5.22M | $20.83M | $10.17M | $12.73M | $30.03M | $70.88M | $128.86M | $78.17M | $137.06M | $91.01M | $14.84M | $5.62M |
| LP fees | $580.13K | $487.05K | ||||||||||||||||||||||
Gross Profit | $303.80K | $78.69K | $2.69M | $3.63M | $195.60K | $337K | $503.70K | $330.81K | $854.09K | $1.06M | $903.18K | $581.37K | $1.04M | $4.16M | $2.03M | $2.54M | $6M | $14.17M | $25.77M | $15.63M | $27.41M | $18.20M | $2.96M | $1.12M |
| Protocol fees | $19.76K | $13.17K | ||||||||||||||||||||||
Incentives | $682.06K | $0 | $628.90K | $1.30M | $1.49M | $2.52M | $2.40M | $0 | $29M | $0 | $354.36K | $312.05K | $804.58K | $1.86M | $2.05M | $2.27M | $3.18M | $9.44M | $36.09M | $77.22M | $191.58M | $339.68M | $69.84M | $392.35M |
| MasterChef LP Rewards | $682.06K | $0 | $628.90K | $1.30M | $1.49M | $2.52M | $2.40M | $0 | $29M | $0 | $354.36K | $312.05K | $804.58K | $1.86M | $2.05M | $2.27M | $3.18M | $9.44M | $36.09M | $77.22M | $191.58M | $339.68M | $69.84M | $392.35M |
Earnings | -$378.26K | $78.69K | $2.06M | $2.33M | -$1.29M | -$2.19M | -$1.89M | $330.81K | -$28.15M | $1.06M | $548.81K | $269.32K | $236.07K | $2.30M | -$21.96K | $275.04K | $2.81M | $4.73M | -$10.32M | -$61.58M | -$164.17M | -$321.48M | -$66.88M | -$391.22M |
Token Holder Net Income | $19.76K | $75.49K | $2.69M | $1.36M | $195.60K | $337K | $503.70K | $330.76K | $854.09K | $1.06M | $987.70K | $581.37K | $1.04M | $4.16M | $2.03M | $2.54M | $6M | $14.17M | $25.77M | $15.63M | $27.41M | $18.20M | $2.96M | $1.12M |
| Tokenholder fees | $19.76K | $13.17K |
Risks
How much debt can be issued against SUSHI as collateral across lending protocols.
Maximum possible exposure to SUSHI
$39,193
$0 (max additional borrows against SUSHI) + $39,193 (bad debt if SUSHI was hacked now)
Aave V3
$39,193 at-risk exposure = $39,193 bad debt if hacked + $0 additional borrowable against SUSHI
Methodology and limitations
Showing collateral exposure for SUSHI 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.
Show exposure details
Each row is one protocol-chain exposure for SUSHI as collateral. Bad debt at $0 totals remain lower bounds when a row is marked partial.
Protocol | Chain | |||
|---|---|---|---|---|
SUSHI0x0b3f868e0be5597d5db7feb59e1cadbb0fdda50a | $0 | $39,193 |
Risk Timeline
Risk-management actions published about SUSHI by tracked risk managers and governance contributors, newest first.
risk managerGauntletcomp.xyz
↓Compound v2 Deprecation: Collateral Factor Reductions
As Compound v2 is deprecated, reducing the collateral factor limits borrowing against SUSHI to mitigate risks from declining protocol liquidity and activity.
risk managerGauntletcomp.xyz
↓Compound v2 Deprecation Phase 13
SUSHI faces deprecation-driven risks with user positions becoming closer to liquidation, as v2 liquidity outflows increase vulnerability for high-borrow accounts.
risk managerGauntletcomp.xyz
↓Compound v2 Deprecation: Collateral Factor decreases for AAVE, COMP, LINK, MKR,
As part of Compound v2 deprecation, SUSHI's collateral factor is being reduced to limit borrowing against it, addressing declining protocol usage and potential liquidity risks in the winding-down market.
risk managerGauntletcomp.xyz
↓Compound v2 Deprecation Phase 11: Collateral Factor reductions
As part of the ongoing Compound v2 deprecation, SUSHI's Collateral Factor is being lowered to reduce protocol exposure to legacy assets while ensuring no immediate liquidations for users with high borrow usage.
risk managerGauntletcomp.xyz
↓Compound v2 Deprecation Phase 10
With SUSHI supply paused, reserve factor raised to 50% to limit v2 usage and accelerate deprecation toward v3.
risk managerGauntletcomp.xyz
↓Compound v2 Deprecation Phase 9
As part of the ongoing Compound v2 deprecation, Gauntlet recommends lowering the collateral factor from 37% to 32% to gradually reduce risk exposure in the legacy markets and encourage migration to v3.
risk managerGauntletcomp.xyz
↓Compound v2 Deprecation Phase 8: Collateral Factor Reductions
As part of Compound v2's deprecation, the collateral factor for SUSHI is being lowered to mitigate risks from declining protocol usage and liquidity, with analysis showing minimal impact on user health factors above liquidation thresholds.
risk managerGauntletcomp.xyz
↓Compound v2 Deprecation Phase 7
As part of Compound v2 deprecation, the collateral factor is being lowered to reduce risk exposure in the legacy protocol, with analysis showing some user positions' health factors dropping closer to liquidation thresholds without triggering immediate liquidations.
risk managerGauntletcomp.xyz
↓Compound v2 Deprecation Phase 5: CF decreases for low-supply altcoins
SUSHI has low supply (< $5M TVL) in Compound v2, prompting a collateral factor reduction as part of the deprecation process to mitigate exposure to underutilized assets.
Markets
Token Usage
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Unlocks
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Yields
Tracking 5 pools, average APY 21.01%
Pool | Project | Chain | 30d APY Chart | ||||||
|---|---|---|---|---|---|---|---|---|---|
| open in new tabSUSHI-WETH0.3% | $892,771 | 26.83% | 26.83% | 4.69% | |||||
| open in new tabSUSHI-WETH | $227,838 | 23.68% | 23.68% | 3.24% | |||||
| open in new tabSUSHI-WETH | $119,290 | 21.15% | 21.15% | 3.38% | |||||
| open in new tabETH-SUSHI0.00% | $61,717 | 0% | 0% | 0% | |||||
| open in new tabSUSHI-FRAX | $24,131 | 12.39% | 12.39% | 2.55% |