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Gauntlet USDC Prime

Risk reportOP Mainnet0xc30c…5c59

Risk

Depositing into Gauntlet USDC 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?
40%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 WBTC −30% 16% · sUSDC −30% 2% · WETH −30% <1% · other <1% · −100% 94% modeled all-to-zero bad-debt ceiling

WBTCMarket86%of vault · bad debt · $435,356Oracle exposure 6%

What it's made of

WBTC token page
Market· Chainlink(aggregator)

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

BaseChainlink market-rate feed pathQuoteChainlink quote feed path
Markets this collateral backs · 1
  • → USDC86% LLTV0x7890…37acChainlink
Room to grow: $435,356 of $799,778 cap (54% used)Aggregate Collateral Trust (ACT):$1.49m2 vaultsToken:0x68f1…2095Allocation: 92% of the vault · $463,379

If it breaks

−30% default
At −30%:est. bad debt up to 16% of depositUses 1 market LLTV curve · capped at allocation $463,379 · drag to set this asset's drop
Oracle exposure: up to 6% of vault drainable if the feed is compromisedseparate path: an attacker borrows against a fake price
sUSDCHybrid7%of vault · bad debt · $35,031Oracle exposure 0.7%

What it's made of

sUSDC token page
Hybrid(composite)

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

Markets this collateral backs · 1
  • → USDC95% LLTV0x900a…363f
Room to grow: $35,031 of $49,986 cap (70% used)Aggregate Collateral Trust (ACT):$3,6572 vaultsToken:0xcf93…db55Allocation: 8% of the vault · $38,688

If it breaks

−30% default
At −30%:est. bad debt up to 2% of depositUses 1 market LLTV curve · capped at allocation $38,688 · drag to set this asset's drop
Oracle exposure: up to 0.7% of vault drainable if the feed is compromisedseparate path: an attacker borrows against a fake price
WETHMarket0.2%of vault · bad debt · $795.13Oracle exposure <0.1%

What it's made of

WETH token page
Market· Chainlink(aggregator)

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

Markets this collateral backs · 1
  • → USDC86% LLTV0x6475…1735Chainlink
Aggregate Collateral Trust (ACT):$2.76m2 vaultsToken:0x4200…0006Allocation: 0.2% of the vault · $852.18

If it breaks

−30% default
At −30%:est. bad debt up to <0.1% of depositUses 1 market LLTV curve · capped at allocation $852.18 · 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
wstETHMarket0.1%of vault · bad debt · $666.69Oracle exposure <0.1%

What it's made of

wstETH token page
Market· Chainlink(aggregator)

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

Markets this collateral backs · 1
  • → USDC86% LLTV0x11b8…7dbfChainlink
Aggregate Collateral Trust (ACT):$3.28m4 vaultsToken:0x1f32…4ebbAllocation: 0.1% of the vault · $697.67

If it breaks

−30% default
At −30%:est. bad debt up to <0.1% of depositUses 1 market LLTV curve · capped at allocation $697.67 · 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 to6%of vault drainable if these feeds are mispriced · $31,768

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 WBTC, wstETH, WETH0xabc7…c0786% of vault · $28,111drainable if it is compromised
  • Unidentified feeds· vendor and onchain control not resolvedprices sUSDC<1% of vault · $3,657mispriceable if these feeds lie
Updated 55min agoSources:on-chain reads via @defillama/sdkhttps://hub.snapshot.org/graphqlhttps://api.morpho.org/graphql