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Gauntlet WETH Balanced

Risk reportEthereum0x5f34…ded3

Risk

Depositing into Gauntlet WETH Balanced 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)

42%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 24% of deposit

Driven by wstETH −30% 18% · weETH −30% 5% · cbBTC −30% <1% · other <1% · −100% 87% modeled all-to-zero bad-debt ceiling

CollateralAllocationMarket ExposureOracle Exposure

wstETHHybridChainlink66%of vault · bad debt · $757,532Oracle exposure 9%

75%of vault · $863,34466%of vault · $757,5329%separate path

What it's made of

wstETH token page

Hybrid· Chainlink(exchange-rate)

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

BasewstETH/stETH exchange rateExchange rate

Markets this collateral backs · 2

→ WETH97% LLTV0xbd60…71d8
→ WETH95% LLTV0x2a01…ad72Chainlink

Aggregate Collateral Trust (ACT):$814.62m108 vaultsToken:0x7f39…2ca0Allocation: 75% of the vault · $863,344

If it breaks

−30% default

At −30%:est. bad debt up to 18% of depositUses 2 market LLTV curves · capped at allocation $863,344 · drag to set this asset's drop

Oracle exposure: up to 9% of vault drainable if the feed is compromisedseparate path: an attacker borrows against a fake price

weETHHybrid21%of vault · bad debt · $241,181Oracle exposure 4%

25%of vault · $283,98721%of vault · $241,1814%separate path

What it's made of

weETH token page

Hybrid(exchange-rate)

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

BaseweETH/ETH exchange rateExchange rate

Markets this collateral backs · 1

→ WETH95% LLTV0xbdd2…8a72

Aggregate Collateral Trust (ACT):$370.04m51 vaultsToken:0xcd5f…b7eeAllocation: 25% of the vault · $283,987

If it breaks

−30% default

At −30%:est. bad debt up to 5% of depositUses 1 market LLTV curve · capped at allocation $283,987 · 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

cbBTCMarketChainlink<0.1%of vault · bad debt · $2.12Oracle exposure <0.1%

<0.1%of vault · $3.08<0.1%of vault · $2.12<0.1%separate path

What it's made of

cbBTC token page

Market· Chainlink(aggregator)

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

Markets this collateral backs · 1

→ WETH92% LLTV0x8f65…f5d4Chainlink

Aggregate Collateral Trust (ACT):$457.61m102 vaultsToken:0xcbb7…33bfAllocation: <0.1% of the vault · $3.08

If it breaks

−30% default

At −30%:est. bad debt up to <0.1% of depositUses 1 market LLTV curve · capped at allocation $3.08 · 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

LBTCMarketRedStone / Chainlink<0.1%of vault · bad debt · $0.73Oracle exposure <0.1%

<0.1%of vault · $2.41<0.1%of vault · $0.73<0.1%separate path

What it's made of

LBTC token page

Market· RedStone / Chainlink(aggregator)

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

Markets this collateral backs · 1

→ WETH92% LLTV0x2ca9…5903RedStone / Chainlink

Aggregate Collateral Trust (ACT):$516,54417 vaultsToken:0x8236…4494Allocation: <0.1% of the vault · $2.41

If it breaks

−30% default

At −30%:est. bad debt up to <0.1% of depositUses 1 market LLTV curve · capped at allocation $2.41 · 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

WBTCMarketChainlink<0.1%of vault · bad debt · $0.63Oracle exposure <0.1%

<0.1%of vault · $2.74<0.1%of vault · $0.63<0.1%separate path

What it's made of

WBTC token page

Market· Chainlink(aggregator)

WBTC is priced via BTC / ETH — market-rate feed (Chainlink).

BaseBTC / ETHMarketChainlink

Heartbeat 24hDeviation 200bps

Markets this collateral backs · 1

→ WETH92% LLTV0xc29b…e663Chainlink

Aggregate Collateral Trust (ACT):$388.22m90 vaultsToken:0x2260…c599Allocation: <0.1% of the vault · $2.74

If it breaks

−30% default

At −30%:est. bad debt up to <0.1% of depositUses 1 market LLTV curve · capped at allocation $2.74 · 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

2 feeds2 control points

Up to13%of vault drainable if these feeds are mispriced · $148,623

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 / RedStone·a 4/9 Safe multisigprices cbBTC, WBTC, LBTC, wstETH0x21f7…73ca9% of vault · $105,817drainable if it is compromised
RedStone / Chainlink·a 2/3 Safe multisigprices LBTC0x6906…4472<1% of vault · $1.68drainable if it is compromised
Onchain exchange rate· no external feed or adminprices weETH4% of vault · $42,805mispriceable only via the issuing contract


Full-deposit & protocol-level(2)
	100%	Full deposit	Instant
	24%	up to 87%	Instant
Price-driven collateral stress(1)
	24%	up to 87%	Instant
Oracle & liquidation failures(5)
	13%	Full deposit	Instant
	24%	up to 87%	Instant
	24%	up to 87%	Instant
	24%	up to 87%	Instant
	—	up to 13%	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

Owner4-of-6 multisig0xc684…faec

Curator3-of-6 multisig0x9e33…0585

Sentinels21 multisig1 EOASafety role · veto only

Safety role, not an attack role: can revoke ANY pending timelocked curator change, instantly cut caps, and pull funds from adapters back to idle. Strictly risk-reducing — a captured sentinel cannot introduce new risk.

3-of-6 multisig0x7084…84cd
single key (EOA)0xdb92…1dca

Allocators21 multisig1 EOAReaches 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.

3-of-6 multisig0x9e33…0585
single key (EOA)0xf9ce…f7ed

Audits

361 critical, 13 high findings logged

CertoraDec 15, 2025report
BlackthornDec 4, 2025report
SpearbitDec 4, 2025report
BlackthornSep 15, 2025report

+32 more audits

Governance & control

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

Governance owner6-of-1012 chains0xcba2…9afa

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 21min agoSources:on-chain reads via @defillama/sdkhttps://hub.snapshot.org/graphqlhttps://api.morpho.org/graphql

Gauntlet WETH Balanced

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