Back to pool details

Clearstar USDC Reactor

Risk reportEthereum0x62fe…dc78

Risk

Depositing into Clearstar USDC Reactor 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?
38%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 3-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 sUSN −30% 12% · srRoyUSDC −30% 6% · fxSAVE −30% <1% · other <1% · −100% 89% modeled all-to-zero bad-debt ceiling

sUSNsUSNHybrid62%of vault · bad debt · $770,386Oracle exposure 7%

What it's made of

Hybrid· Stork / Chainlink(aggregator)

sUSN mixes exchange-rate/NAV (A port of a chainlink aggregator powered by Stork, ERC4626 vault share-rate) with market-rate (USDC / USD) — insulated from A port of a chainlink aggregator powered by Stork, ERC4626 vault share-rate market deviation, but exposed to USDC / USD.

BaseA port of a chainlink aggregator powered by StorkNAVQuoteUSDC / USDMarketChainlinkBaseERC4626 vault share-rateVault
Heartbeat 23h · Deviation 25bps
Markets this collateral backs · 1
  • → USDC86% LLTV0xc415…94aaStork / Chainlink
Room to grow: $852,921 of $10m cap (9% used)Aggregate Collateral Trust (ACT):$130,9073 vaultsToken:0xe24a…b91dAllocation: 69% of the vault · $852,921

If it breaks

−30% default
At −30%:est. bad debt up to 12% of depositUses 1 market LLTV curve · capped at allocation $852,921 · drag to set this asset's drop
Oracle exposure: up to 7% of vault drainable if the feed is compromisedseparate path: an attacker borrows against a fake price
srRoyUSDCsrRoyUSDCHybrid27%of vault · bad debt · $330,002Oracle exposure 4%

What it's made of

Hybrid(exchange-rate)

srRoyUSDC is priced from an exchange-rate/NAV leg (ERC4626 vault share-rate) — no market-rate feed, so it tracks redemption value, not market price.

BaseERC4626 vault share-rateVault
Markets this collateral backs · 1
  • → USDC92% LLTV0x86a8…6ab0
Room to grow: $379,092 of $5m cap (8% used)Aggregate Collateral Trust (ACT):$254,9964 vaultsToken:0xcd9f…2a32Allocation: 30% of the vault · $379,092

If it breaks

−30% default
At −30%:est. bad debt up to 6% of depositUses 1 market LLTV curve · capped at allocation $379,092 · 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
fxSAVEfxSAVEHybrid0.9%of vault · bad debt · $10,762Oracle exposure 0.1%

What it's made of

Hybrid· eOracle(composite)

Mixes market and exchange-rate inputs — partial depeg insulation, partial market exposure.

Markets this collateral backs · 1
  • → USDC86% LLTV0x1693…4440eOracle
Room to grow: $11,836 of $19.99m cap (<1% used)Aggregate Collateral Trust (ACT):$2.25m7 vaultsToken:0x7743…fc39Allocation: 1.0% of the vault · $11,836

If it breaks

−30% default
At −30%:est. bad debt up to 0.2% of depositUses 1 market LLTV curve · capped at allocation $11,836 · drag to set this asset's drop
Oracle exposure: up to 0.1% of vault drainable if the feed is compromisedseparate path: an attacker borrows against a fake price
liUSD-1wliUSD-1wHybrid<0.1%of vault · bad debt · $522.85Oracle exposure <0.1%

What it's made of

Hybrid(composite)

Mixes market and exchange-rate inputs — partial depeg insulation, partial market exposure.

Markets this collateral backs · 1
  • → USDC86% LLTV0xfec8…c40c
Room to grow: $731.92 of $10m cap (<1% used)Aggregate Collateral Trust (ACT):$489.252 vaultsToken:0x12b0…8442Allocation: 0.1% of the vault · $872.34

If it breaks

−30% default
At −30%:est. bad debt up to <0.1% of depositUses 1 market LLTV curve · capped at allocation $872.34 · drag to set this asset's drop
Oracle exposure: up to <0.1% of vault drainable if the feed is compromisedseparate path: an attacker borrows against a fake price

+15 markets with no current position

Oracle dependencies

3 feeds · 2 control points

Up to11%of vault drainable if these feeds are mispriced · $133,048

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

  • Chainlink / eOracle / RedStone / Stork·a 4/9 Safe multisigprices cbBTC, upUSDC, stcUSD, savUSD, OETH, sUSN0x21f7…73ca7% of vault · $82,535drainable if it is compromised
  • eOracle·a control contractprices fxSAVE0x9b54…dda4<1% of vault · $1,074drainable if it is compromised
  • On-chain exchange rate· no external feed or adminprices srRoyUSDC4% of vault · $49,090mispriceable only via the issuing contract
  • Unidentified feeds· vendor and on-chain control not resolvedprices liUSD-1w<1% of vault · $349.49mispriceable if these feeds lie

1 reading could not be refreshed this run.

Updated 33min agoSources:on-chain reads via @defillama/sdkhttps://hub.snapshot.org/graphqlhttps://api.morpho.org/graphql