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Gauntlet USDT Prime

Risk reportEthereum0x8cb3…aa73

Risk

Depositing into Gauntlet USDT Prime means underwriting risks you usually can't see: how much you could lose, whether you'd get out in time, and what would cover it.

Morpho BlueVault (aggregates across markets)
How much could be lost?
37%of your deposit if collateral falls 50%Only smart-contract bug reaches a total 100%, with no warning to exit.
Can I exit?
Via underlying marketsonly governance changes give a 7-day timelock to exit — every other modeled failure is no-warning
What backs it?
No committed backstopnothing committed would cover a loss
Track record
No pool-level losses recorded36 audits, latest Dec 15, 2025

Collateral and oracle exposure

Each token you're exposed to, and the market it backs. If that market breaks, this is how much the vault loses, in dollars and as a share of the vault. Open a row for the price feed, stress curve, and supply-cap detail. Below, the oracles those prices depend on and what is at stake if one is compromised.

If collateral prices dropper asset · no liquidations · stress estimate
est. bad debt up to 18% of deposit

Driven by cbBTC −30% 7% · sUSDS −30% 5% · WBTC −30% 4% · other 1% · −100% 85% modeled all-to-zero bad-debt ceiling

cbBTCcbBTCMarket39%of vault · bad debt · $1.03mOracle exposure 8%

What it's made of

cbBTC token page
Market· Chainlink(aggregator, composite, managed)

cbBTC uses a composite oracle path; verified external provider(s): Chainlink.

BaseBTC / USDMarketChainlink
Markets this collateral backs · 2
  • → USDT86% LLTV0x0e05…38acChainlink
  • → USDT86% LLTV0x9f98…34d2Chainlink
Room to grow: $1.24m of $699.48m cap (<1% used)Aggregate Collateral Trust (ACT):$449.89m102 vaultsToken:0xcbb7…33bfAllocation: 47% of the vault · $1.24m

If it breaks

−30% default
At −30%:est. bad debt up to 7% of depositUses 2 market LLTV curves · capped at allocation $1.24m · drag to set this asset's drop
Oracle exposure: up to 8% of vault drainable if the feed is compromisedseparate path: an attacker borrows against a fake price
WBTCWBTCMarket20%of vault · bad debt · $518,033Oracle exposure 4%

What it's made of

WBTC token page
Market· Chainlink(managed, aggregator)

WBTC is priced via WBTC / BTC × BTC / USD, quoted in USDT / USD — 3-hop market-rate feeds (Chainlink).

BaseWBTC / BTCMarketBTC / USDMarketChainlinkQuoteUSDT / USDMarketChainlink
Heartbeat 24hDeviation 50bps
Markets this collateral backs · 2
  • → USDT86% LLTV0xf156…0cf4Chainlink
  • → USDT86% LLTV0x008b…e1efChainlink
Room to grow: $612,662 of $699.48m cap (<1% used)Aggregate Collateral Trust (ACT):$391.35m90 vaultsToken:0x2260…c599Allocation: 23% of the vault · $612,662

If it breaks

−30% default
At −30%:est. bad debt up to 4% of depositUses 2 market LLTV curves · capped at allocation $612,662 · drag to set this asset's drop
Oracle exposure: up to 4% of vault drainable if the feed is compromisedseparate path: an attacker borrows against a fake price
sUSDSsUSDSHybrid19%of vault · bad debt · $508,214Oracle exposure 2%

What it's made of

sUSDS token page
Hybrid· Chainlink(aggregator, composite)

sUSDS mixes exchange-rate/NAV (ERC4626 vault share-rate) with market-rate (DAI / USD, USDT / USD) — insulated from ERC4626 vault share-rate market deviation, but exposed to DAI / USD, USDT / USD.

BaseDAI / USDMarketChainlinkQuoteUSDT / USDMarketChainlinkBaseERC4626 vault share-rateVault
Heartbeat 24hDeviation 25bps
Markets this collateral backs · 2
  • → USDT97% LLTV0x0c42…4c79Chainlink
  • → USDT97% LLTV0x1c7d…2f9cChainlink
Room to grow: $563,579 of $54.96m cap (1% used)Aggregate Collateral Trust (ACT):$8.57m23 vaultsToken:0xa393…7fbdAllocation: 21% of the vault · $563,579

If it breaks

−30% default
At −30%:est. bad debt up to 5% of depositUses 2 market LLTV curves · capped at allocation $563,579 · drag to set this asset's drop
Oracle exposure: up to 2% of vault drainable if the feed is compromisedseparate path: an attacker borrows against a fake price
wstETHwstETHMarket7%of vault · bad debt · $181,657Oracle exposure 1%

What it's made of

wstETH token page
Market· Chainlink(composite)

wstETH is priced via Custom price feed for wstETH / ETH, quoted in USDT / ETH — 2-hop market-rate feeds (Chainlink).

BaseCustom price feed for wstETH / ETHMarketQuoteUSDT / ETHMarketChainlink
Heartbeat 24hDeviation 100bps
Markets this collateral backs · 2
  • → USDT86% LLTV0xe087…9f9fChainlink
  • → USDT86% LLTV0x95db…6992Chainlink
Room to grow: $214,195 of $699.48m cap (<1% used)Aggregate Collateral Trust (ACT):$814.03m108 vaultsToken:0x7f39…2ca0Allocation: 8% of the vault · $214,195

If it breaks

−30% default
At −30%:est. bad debt up to 1% of depositUses 2 market LLTV curves · capped at allocation $214,195 · drag to set this asset's drop
Oracle exposure: up to 1% of vault drainable if the feed is compromisedseparate path: an attacker borrows against a fake price

+1 market with no current position

Oracle dependencies

1 feed1 control point

Up to15%of vault drainable if these feeds are mispriced · $388,440

Each price traces to a feed and the onchain admin that can move it. Compromise either to misprice the collateral and borrow against it. Per-row amounts overlap and are not summed.

  • Chainlink·a 4/9 Safe multisigprices cbBTC, WBTC, wstETH, sDAI, sUSDS0x21f7…73ca15% of vault · $388,440drainable if it is compromised
Updated 23min agoSources:on-chain reads via @defillama/sdkhttps://hub.snapshot.org/graphqlhttps://api.morpho.org/graphql