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Bitget x Steakhouse USDT

Risk reportArbitrum0xbeef…492f

Risk

Depositing into Bitget x Steakhouse 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)

37%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 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 17% of deposit

Driven by WBTC −30% 12% · sUSDS −30% 3% · WETH −30% <1% · other <1% · −100% 87% modeled all-to-zero bad-debt ceiling

CollateralAllocationMarket ExposureOracle Exposure

WBTCMarketChainlink66%of vault · bad debt · $760,731Oracle exposure 10%

77%of vault · $877,91466%of vault · $760,73110%separate path

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

→ USDT086% LLTV0xedca…1612Chainlink

Aggregate Collateral Trust (ACT):$46.44m12 vaultsToken:0x2f2a…5b0fAllocation: 77% of the vault · $877,914

If it breaks

−30% default

At −30%:est. bad debt up to 12% of depositUses 1 market LLTV curve · capped at allocation $877,914 · drag to set this asset's drop

Oracle exposure: up to 10% of vault drainable if the feed is compromisedseparate path: an attacker borrows against a fake price

sUSDSHardcodedChainlink12%of vault · bad debt · $140,923Oracle exposure 1%

14%of vault · $157,69712%of vault · $140,9231%separate path

What it's made of

sUSDS token page

Hardcoded· Chainlink(composite, managed)

sUSDS uses a composite oracle path; verified external provider(s): Chainlink.

BaseComposite base price pathQuoteChainlink quote feed path

Markets this collateral backs · 1

→ USDT095% LLTV0x0611…51d7Chainlink

Aggregate Collateral Trust (ACT):$23,58610 vaultsToken:0xddb4…7610Allocation: 14% of the vault · $157,697

If it breaks

−30% default

At −30%:est. bad debt up to 3% of depositUses 1 market LLTV curve · capped at allocation $157,697 · 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

WETHMarketChainlink4%of vault · bad debt · $50,981Oracle exposure 0.6%

5%of vault · $57,9554%of vault · $50,9810.6%separate path

What it's made of

WETH token page

Market· Chainlink(aggregator)

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

BaseChainlink market-rate feed pathQuoteChainlink quote feed path

Markets this collateral backs · 1

→ USDT086% LLTV0x282f…71a2Chainlink

Aggregate Collateral Trust (ACT):$46.74m10 vaultsToken:0x82af…bab1Allocation: 5% of the vault · $57,955

If it breaks

−30% default

At −30%:est. bad debt up to 0.8% of depositUses 1 market LLTV curve · capped at allocation $57,955 · 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

XAUt0MarketChainlink2%of vault · bad debt · $26,841Oracle exposure 0.7%

3%of vault · $34,3472%of vault · $26,8410.7%separate path

What it's made of

XAUt0 token page

Market· Chainlink(aggregator)

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

Markets this collateral backs · 1

→ USDT077% LLTV0xade5…896eChainlink

Aggregate Collateral Trust (ACT):$19,2995 vaultsToken:0x4046…7159Allocation: 3% of the vault · $34,347

If it breaks

−30% default

At −30%:est. bad debt up to 0.2% of depositUses 1 market LLTV curve · capped at allocation $34,347 · 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

wstETHMarketChainlink0.8%of vault · bad debt · $8,979Oracle exposure 0.1%

0.9%of vault · $10,0950.8%of vault · $8,9790.1%separate path

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

→ USDT086% LLTV0x979e…fd82Chainlink

Aggregate Collateral Trust (ACT):$49.23m12 vaultsToken:0x5979…0529Allocation: 0.9% of the vault · $10,095

If it breaks

−30% default

At −30%:est. bad debt up to 0.1% of depositUses 1 market LLTV curve · capped at allocation $10,095 · 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

weETHHybridChainlink0.5%of vault · bad debt · $5,598Oracle exposure 0.1%

0.5%of vault · $6,2290.5%of vault · $5,5980.1%separate path

What it's made of

weETH token page

Hybrid· Chainlink(composite, managed)

weETH uses a composite oracle path; verified external provider(s): Chainlink.

BaseComposite base price pathQuoteChainlink quote feed path

Markets this collateral backs · 1

→ USDT086% LLTV0xff13…0a8aChainlink

Aggregate Collateral Trust (ACT):$22.63m5 vaultsToken:0x3575…4dbeAllocation: 0.5% of the vault · $6,229

If it breaks

−30% default

At −30%:est. bad debt up to 0.1% of depositUses 1 market LLTV curve · capped at allocation $6,229 · 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

sUSDeUnclassifiedChainlink<0.1%of vault · bad debt · $31.09Oracle exposure <0.1%

<0.1%of vault · $34.73<0.1%of vault · $31.09<0.1%separate path

What it's made of

sUSDe token page

Unclassified· Chainlink(managed)

Oracle design not classified (long-tail market).

Markets this collateral backs · 1

→ USDT092% LLTV0x2651…4b18Chainlink

Aggregate Collateral Trust (ACT):$287,5691 vaultsToken:0x211c…e5d2Allocation: <0.1% of the vault · $34.73

If it breaks

−30% default

At −30%:est. bad debt up to <0.1% of depositUses 1 market LLTV curve · capped at allocation $34.73 · 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

bitgetUSDCAUM / rate<0.1%of vault · bad debt · $5.99Oracle exposure <0.1%

<0.1%of vault · $6.70<0.1%of vault · $5.99<0.1%separate path

What it's made of

bitgetUSDC token page

AUM / rate(exchange-rate)

Priced off an exchange rate / AUM — insulated from spot depegs, but exposed to rate-provider corruption.

Markets this collateral backs · 1

→ USDT097% LLTV0x6217…909a

Aggregate Collateral Trust (ACT):$0.831 vaultsToken:0xbeef…a518Allocation: <0.1% of the vault · $6.70

If it breaks

−30% default

At −30%:est. bad debt up to <0.1% of depositUses 1 market LLTV curve · capped at allocation $6.70 · 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

+5 markets with no current position

Oracle dependencies

1 feed1 control point

Up to13%of vault drainable if these feeds are mispriced · $150,189

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 / Chronicle·a 4/9 Safe multisigprices wstETH, syrupUSDC, wsrUSD, WBTC, XAUt0, WETH, sUSDe, siUSD, weETH, sUSDS, PT-USDai-18JUN2026, PT-USDai-19FEB20260x2f3b…d3c512% of vault · $133,413drainable if it is compromised
Onchain exchange rate· no external feed or adminprices bitgetUSDC<1% of vault · $0.71mispriceable only via the issuing contract


Full-deposit & protocol-level(2)
	100%	Full deposit	Instant
	17%	up to 87%	Instant
Price-driven collateral stress(1)
	17%	up to 87%	Instant
Oracle & liquidation failures(6)
	17%	up to 87%	Instant
	17%	up to 87%	Instant
	17%	up to 87%	Instant
	2%	up to 14%	Instant
	—	up to 13%	Instant
	3%	up to 13%	Instant
Vault role & allocator(3)
	—	Full deposit	7 days
	—	Full deposit	Instant
	—	up to 50%	7 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 7 days to exit before owner/curator actions land

Ownercontract0xca9f…f5ee

Curator3-of-9 multisig0x827e…ecdb

Sentinels11 contractSafety 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.

contract0xca9f…f5ee

Allocators71 multisig3 contracts3 EOAsReaches 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-7 multisig0x0000…9da8
contract0x2570…f462
contract0x85b6…3704
single key (EOA)0xbbf1…bceb
contract0xbeef…beef
single key (EOA)0xfc58…d827
single key (EOA)0xfeed…3c9a

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 owner5-of-912 chains0xfd35…d9b2

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 991,904.24

Voting TokenMORPHO0x58D9…c2B2

Dependencies that can affect your deposit

10 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 31min agoSources:on-chain reads via @defillama/sdkhttps://hub.snapshot.org/graphqlhttps://api.morpho.org/graphql

Bitget x Steakhouse 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

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