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Gauntlet USDT Prime

Risk reportEthereum0xf355…6471

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?
44%of your deposit if collateral falls 50%Only bridged / wrapped collateral failure 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 20% of deposit

Driven by wstETH −30% 11% · WBTC −30% 6% · sUSDS −30% 2% · other <1% · −100% 100% modeled all-to-zero bad-debt ceiling

wstETHwstETHMarket59%of vault · bad debt · $3.04mOracle exposure 5%

What it's made of

wstETH token page
Market· Chainlink(composite)

wstETH is priced via Custom price feed for wstETH / ETH × ETH / USD — 2-hop market-rate feeds (Chainlink).

BaseCustom price feed for wstETH / ETHMarketETH / USDMarketChainlink
Markets this collateral backs · 2
  • → USDT86% LLTV0x95db…6992Chainlink
  • → USDT86% LLTV0xe087…9f9fChainlink
Aggregate Collateral Trust (ACT):$812.26m108 vaultsToken:0x7f39…2ca0Allocation: 57% of the vault · $3.29m

If it breaks

−30% default
At −30%:est. bad debt up to 11% of depositUses 2 market LLTV curves · capped at allocation $3.29m · drag to set this asset's drop
Oracle exposure: up to 5% of vault drainable if the feed is compromisedseparate path: an attacker borrows against a fake price
WBTCWBTCMarket33%of vault · bad debt · $1.73mOracle exposure 3%

What it's made of

WBTC token page
Market· Chainlink(aggregator, managed)

WBTC uses a deviation/timelock managed oracle over Chainlink price-source leg(s), not a direct raw market-rate feed.

BaseWBTC / BTCMarketBTC / USDMarketChainlinkQuoteUSDT / USDMarketChainlink
Markets this collateral backs · 2
  • → USDT86% LLTV0x008b…e1efChainlink
  • → USDT86% LLTV0xf156…0cf4Chainlink
Aggregate Collateral Trust (ACT):$370.89m91 vaultsToken:0x2260…c599Allocation: 32% of the vault · $1.86m

If it breaks

−30% default
At −30%:est. bad debt up to 6% of depositUses 2 market LLTV curves · capped at allocation $1.86m · 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
sUSDSsUSDSHybrid8%of vault · bad debt · $422,205Oracle exposure 0.6%

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
Aggregate Collateral Trust (ACT):$7.78m23 vaultsToken:0xa393…7fbdAllocation: 8% of the vault · $451,826

If it breaks

−30% default
At −30%:est. bad debt up to 2% of depositUses 2 market LLTV curves · capped at allocation $451,826 · drag to set this asset's drop
Oracle exposure: up to 0.6% of vault drainable if the feed is compromisedseparate path: an attacker borrows against a fake price
cbBTCcbBTCMarket3%of vault · bad debt · $169,108Oracle exposure <0.1%

What it's made of

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

cbBTC is priced via BTC / USD — market-rate feed (Chainlink).

BaseBTC / USDMarketChainlink
Heartbeat 1hDeviation 50bps
Markets this collateral backs · 2
  • → USDT86% LLTV0x9f98…34d2Chainlink
  • → USDT86% LLTV0x0e05…38acChainlink
Aggregate Collateral Trust (ACT):$291.01m104 vaultsToken:0xcbb7…33bfAllocation: 3% of the vault · $169,816

If it breaks

−30% default
At −30%:est. bad debt up to 0.6% of depositUses 2 market LLTV curves · capped at allocation $169,816 · 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

Oracle dependencies

1 feed1 control point

Up to8%of vault drainable if these feeds are mispriced · $403,776

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, sUSDS0x21f7…73ca8% of vault · $403,776drainable if it is compromised
Updated 3min agoSources:on-chain reads via @defillama/sdkhttps://hub.snapshot.org/graphqlhttps://api.morpho.org/graphql