Clearstar Core USDT

Risk reportKatana0xb3c6…adf6

Risk

Depositing into Clearstar Core USDT 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?

Your deposit (optional)

33%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 13% of deposit

Driven by weETH −30% 7% · FXRP −30% 2% · vbWBTC −30% 2% · other 2% · −100% 82% modeled all-to-zero bad-debt ceiling

CollateralAllocationMarket ExposureOracle Exposure

weETHHybridRedStone / Chainlink35%of vault · bad debt · $332,090Oracle exposure 11%

46%of vault · $432,47435%of vault · $332,09011%separate path

What it's made of

Hybrid· RedStone / Chainlink(aggregator)

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

Markets this collateral backs · 1

→ vbUSDT86% LLTV0xe892…8364RedStone / Chainlink

Aggregate Collateral Trust (ACT):$595,13515 vaultsToken:0x9893…19a7Allocation: 46% of the vault · $432,474

If it breaks

−30% default

At −30%:est. bad debt up to 7% of depositUses 1 market LLTV curve · capped at allocation $432,474 · drag to set this asset's drop

Oracle exposure: up to 11% of vault drainable if the feed is compromisedseparate path: an attacker borrows against a fake price

FXRPMarketChainlink27%of vault · bad debt · $255,430Oracle exposure 3%

30%of vault · $286,58627%of vault · $255,4303%separate path

What it's made of

Market· Chainlink(aggregator)

Priced off live market data — a depeg moves the price and can liquidate positions.

Markets this collateral backs · 1

→ vbUSDT77% LLTV0x0145…2ad3Chainlink

Aggregate Collateral Trust (ACT):$49,6924 vaultsToken:0x565f…8059Allocation: 30% of the vault · $286,586

If it breaks

−30% default

At −30%:est. bad debt up to 2% of depositUses 1 market LLTV curve · capped at allocation $286,586 · drag to set this asset's drop

Oracle exposure: up to 3% of vault drainable if the feed is compromisedseparate path: an attacker borrows against a fake price

vbWBTCMarketChainlink10%of vault · bad debt · $93,476Oracle exposure 2%

11%of vault · $108,43610%of vault · $93,4762%separate path

What it's made of

Market· Chainlink(aggregator)

vbWBTC uses Chainlink market-rate aggregator feed(s).

BaseChainlink market-rate feed pathQuoteChainlink quote feed path

Markets this collateral backs · 1

→ vbUSDT86% LLTV0x07a9…f0aeChainlink

Aggregate Collateral Trust (ACT):$1.72m12 vaultsToken:0x0913…cf52Allocation: 11% of the vault · $108,436

If it breaks

−30% default

At −30%:est. bad debt up to 2% of depositUses 1 market LLTV curve · capped at allocation $108,436 · 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

yvvbUSDCHybridChainlink9%of vault · bad debt · $83,219Oracle exposure 1%

10%of vault · $93,3779%of vault · $83,2191%separate path

What it's made of

Hybrid· Chainlink(aggregator)

yvvbUSDC is priced from an exchange-rate/NAV leg rather than a direct market-rate feed.

BaseExchange-rate/NAV pricing legQuoteChainlink quote feed path

Markets this collateral backs · 1

→ vbUSDT86% LLTV0x6d73…c98cChainlink

Aggregate Collateral Trust (ACT):$93,8655 vaultsToken:0x80c3…b159Allocation: 10% of the vault · $93,377

If it breaks

−30% default

At −30%:est. bad debt up to 2% of depositUses 1 market LLTV curve · capped at allocation $93,377 · 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

vbETHMarketChainlink2%of vault · bad debt · $18,843Oracle exposure 1%

3%of vault · $28,9042%of vault · $18,8431%separate path

What it's made of

Market· Chainlink(aggregator)

Priced off live market data — a depeg moves the price and can liquidate positions.

Markets this collateral backs · 1

→ vbUSDT86% LLTV0x2477…f084Chainlink

Aggregate Collateral Trust (ACT):$366,09512 vaultsToken:0xee7d…ab62Allocation: 3% of the vault · $28,904

If it breaks

−30% default

At −30%:est. bad debt up to 0.4% of depositUses 1 market LLTV curve · capped at allocation $28,904 · 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

Oracle dependencies

2 feeds · 2 control points

Up to18%of vault drainable if these feeds are mispriced · $166,719

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 / RedStone·a 4/9 Safe multisigprices vbWBTC, weETH, vbETH, yvvbUSDC, FXRP0x0787…333418% of vault · $166,719drainable if it is compromised
RedStone / Chainlink·a 2/3 Safe multisigprices weETH0x3658…f9b211% of vault · $100,385drainable if it is compromised


Full-deposit & protocol-level(2)
	100%	Full deposit	Instant
	13%	up to 82%	Instant
Price-driven collateral stress(1)
	13%	up to 82%	Instant
Oracle & liquidation failures(6)
	13%	up to 82%	Instant
	13%	up to 82%	Instant
	13%	up to 82%	Instant
	12%	up to 55%	Instant
	8%	up to 44%	Instant
	—	up to 18%	Instant
Vault role & allocator(3)
	—	Full deposit	3 days
	—	Full deposit	Instant
	—	up to 50%	3 days

Trust and control

The people and processes that can change this protocol under you.

Track record · no pool-level losses recorded · 5 protocol incidents · 36 audits

Vault operators

The roles that can actually move your deposit — the real principal-loss path.

Reaches deposit, no delayReaches deposit, timelockedCan't reach deposit

Role timelock 3 days to exit before owner/curator actions land

Owner3-of-6 multisig0xb3cf…2b44

Curator2-of-3 multisig0x5634…fc24

Guardiannone appointed

Allocators1 · 1 multisigReaches deposit · instant

Moves funds between markets the curator has ALREADY approved — instantly, with NO timelock and no exit window. Cannot reach a brand-new market, but can concentrate you into an approved-but-stressed market or order withdrawals so you hit weak liquidity first.

1-of-6 multisig0x40dd…b48f

Audits

361 critical, 13 high findings logged

Certora· Dec 15, 2025report
Blackthorn· Dec 4, 2025report
Spearbit· Dec 4, 2025report
Blackthorn· Sep 15, 2025report

+32 more audits

Governance & control

Protocol-wide governance: bounded context, not the path to your deposit.

Governance owner5-of-912 chains0x18b8…5d7c

Rewards owner3-of-70xf057…b2e9

Rewards updater3-of-50x5eb9…3297

Snapshot proposer5-of-80x6abf…f6a2

Governance contract0xcBa2…9AFa

Top-10 voter concentration100.0%

Quorum to pass500,000 MORPHO· top 10 hold 2.49m

Voting token

MORPHO0x58D9…c2B2

Dependencies that can affect your deposit

9 things this pool relies on but doesn't control. Select one for its story.

Morpho Blue

oracles

Market Specific oracle

Every Morpho Blue market chooses an immutable oracle contract at creation; implementations can be Chainlink-like, exchange-rate, fixed-price, or custom. Failure modes: attacker-favourable price feed (covered in market-oracle-compromise) or price() revert / staleness blocking liquidations (covered in oracle-liveness-or-malfunction).

No quantified loss scenario references this dependency directly.

Updated Sep 29, 2026Sources:on-chain reads via @defillama/sdkhttps://hub.snapshot.org/graphqlhttps://api.morpho.org/graphql

Clearstar Core USDT

Risk

Collateral and oracle exposure

What it's made of

If it breaks

What it's made of

If it breaks

What it's made of

If it breaks

What it's made of

If it breaks

What it's made of

If it breaks

Oracle dependencies

Loss scenarios

Trust and control

Vault operators

Audits

Governance & control

Dependencies that can affect your deposit

Market Specific oracle