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Yearn OG USDC

Risk reportBase0xef41…5d03

Risk

Depositing into Yearn OG USDC 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)

24%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 5% of deposit

Driven by cbBTC −30% 3% · WETH −30% 1% · cbXRP −30% <1% · other <1% · −100% 89% modeled all-to-zero bad-debt ceiling

CollateralAllocationMarket ExposureOracle Exposure

cbXRPMarketChainlink55%of vault · bad debt · $1.13mOracle exposure 7%

62%of vault · $1.27m55%of vault · $1.13m7%separate path

What it's made of

cbXRP token page

Market· Chainlink(aggregator)

cbXRP is priced via XRP / USD — market-rate feed (Chainlink).

BaseXRP / USDMarketChainlink

Markets this collateral backs · 2

→ USDC63% LLTV0x031b…0fdeChainlink
→ USDC77% LLTV0x031b…0fdeChainlink

Room to grow: $1.27m of $5.5m cap (23% used)Aggregate Collateral Trust (ACT):$6.52m15 vaultsToken:0xcb58…a4afAllocation: 62% of the vault · $1.27m

If it breaks

−30% default

At −30%:est. bad debt up to 0.1% of depositUses 2 market LLTV curves · capped at allocation $1.27m · drag to set this asset's drop

Oracle exposure: up to 7% of vault drainable if the feed is compromisedseparate path: an attacker borrows against a fake price

cbBTCMarketChainlink18%of vault · bad debt · $367,028Oracle exposure 2%

20%of vault · $407,17318%of vault · $367,0282%separate path

What it's made of

cbBTC token page

Market· Chainlink(aggregator)

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

BaseBTC / USDMarketChainlink

Markets this collateral backs · 1

→ USDC86% LLTV0x663b…39b9Chainlink

Room to grow: $407,173 of $23.13m cap (2% used)Aggregate Collateral Trust (ACT):$235.63m53 vaultsToken:0xcbb7…33bfAllocation: 20% of the vault · $407,173

If it breaks

−30% default

At −30%:est. bad debt up to 3% of depositUses 1 market LLTV curve · capped at allocation $407,173 · 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

WETHMarketChainlink7%of vault · bad debt · $149,152Oracle exposure 0.8%

8%of vault · $165,6147%of vault · $149,1520.8%separate path

What it's made of

WETH token page

Market· Chainlink(aggregator)

WETH is priced via ETH / USD, quoted in USDC / USD — 2-hop market-rate feeds (Chainlink).

BaseETH / USDMarketChainlinkQuoteUSDC / USDMarketChainlink

Markets this collateral backs · 1

→ USDC86% LLTV0xfea2…afe4Chainlink

Room to grow: $165,614 of $111.92m cap (<1% used)Aggregate Collateral Trust (ACT):$56.7m34 vaultsToken:0x4200…0006Allocation: 8% of the vault · $165,614

If it breaks

−30% default

At −30%:est. bad debt up to 1% of depositUses 1 market LLTV curve · capped at allocation $165,614 · drag to set this asset's drop

Oracle exposure: up to 0.8% of vault drainable if the feed is compromisedseparate path: an attacker borrows against a fake price

cbLTCMarketChainlink4%of vault · bad debt · $72,661Oracle exposure 0.6%

4%of vault · $85,2364%of vault · $72,6610.6%separate path

What it's made of

cbLTC token page

Market· Chainlink(aggregator)

cbLTC is priced via LTC / USD — market-rate feed (Chainlink).

BaseLTC / USDMarketChainlink

Markets this collateral backs · 1

→ USDC63% LLTV0x47f9…a00dChainlink

Room to grow: $85,236 of $999,978 cap (9% used)Aggregate Collateral Trust (ACT):$119,93711 vaultsToken:0xcb17…445fAllocation: 4% of the vault · $85,236

If it breaks

−30% default

At −30%:no modeled bad debtUses 1 market LLTV curve · capped at allocation $85,236 · 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

cbDOGEMarketChainlink3%of vault · bad debt · $57,294Oracle exposure 0.3%

3%of vault · $63,6023%of vault · $57,2940.3%separate path

What it's made of

cbDOGE token page

Market· Chainlink(aggregator)

cbDOGE is priced via DOGE / USD — market-rate feed (Chainlink).

BaseDOGE / USDMarketChainlink

Markets this collateral backs · 1

→ USDC63% LLTV0xa9d3…91b2Chainlink

Room to grow: $63,602 of $999,978 cap (6% used)Aggregate Collateral Trust (ACT):$271,49811 vaultsToken:0xcbd0…b510Allocation: 3% of the vault · $63,602

If it breaks

−30% default

At −30%:no modeled bad debtUses 1 market LLTV curve · capped at allocation $63,602 · drag to set this asset's drop

Oracle exposure: up to 0.3% of vault drainable if the feed is compromisedseparate path: an attacker borrows against a fake price

cbETHMarketChainlink1%of vault · bad debt · $28,144Oracle exposure 0.2%

2%of vault · $31,2351%of vault · $28,1440.2%separate path

What it's made of

cbETH token page

Market· Chainlink(aggregator)

cbETH is priced via CBETH / ETH × ETH / USD, quoted in USDC / USD — 3-hop market-rate feeds (Chainlink).

BaseCBETH / ETHMarketChainlinkETH / USDMarketChainlinkQuoteUSDC / USDMarketChainlink

Markets this collateral backs · 2

→ USDC77% LLTV0x97ff…8295Chainlink
→ USDC86% LLTV0xb40d…cd96Chainlink

Room to grow: $31,235 of $20m cap (<1% used)Aggregate Collateral Trust (ACT):$37.97m44 vaultsToken:0x2ae3…ec22Allocation: 2% of the vault · $31,235

If it breaks

−30% default

At −30%:est. bad debt up to 0.1% of depositUses 2 market LLTV curves · capped at allocation $31,235 · drag to set this asset's drop

Oracle exposure: up to 0.2% of vault drainable if the feed is compromisedseparate path: an attacker borrows against a fake price

superOETHbMarketChainlink0.7%of vault · bad debt · $15,076Oracle exposure 0.1%

0.8%of vault · $16,6880.7%of vault · $15,0760.1%separate path

What it's made of

superOETHb token page

Market· Chainlink(aggregator)

WETH is priced via ETH / USD, quoted in USDC / USD — 2-hop market-rate feeds (Chainlink).

BaseETH / USDMarketChainlinkQuoteUSDC / USDMarketChainlink

Markets this collateral backs · 1

→ USDC77% LLTV0xfea2…afe4Chainlink

Room to grow: $16,688 of $3.16m cap (<1% used)Aggregate Collateral Trust (ACT):$69,1255 vaultsToken:0xdbfe…60a3Allocation: 0.8% of the vault · $16,688

If it breaks

−30% default

At −30%:est. bad debt up to 0.1% of depositUses 1 market LLTV curve · capped at allocation $16,688 · 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

YFIMarketChainlink0.1%of vault · bad debt · $2,723Oracle exposure <0.1%

0.1%of vault · $3,0170.1%of vault · $2,723<0.1%separate path

What it's made of

YFI token page

Market· Chainlink(aggregator)

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

Markets this collateral backs · 1

→ USDC77% LLTV0x61c5…3198Chainlink

Room to grow: $3,017 of $199,996 cap (2% used)Aggregate Collateral Trust (ACT):$2,3423 vaultsToken:0x9eaf…b239Allocation: 0.1% of the vault · $3,017

If it breaks

−30% default

At −30%:est. bad debt up to <0.1% of depositUses 1 market LLTV curve · capped at allocation $3,017 · 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

+1 market with no current position

Oracle dependencies

1 feed1 control point

Up to11%of vault drainable if these feeds are mispriced · $218,372

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 cbXRP, WETH, cbBTC, cbETH, cbDOGE, cbLTC, superOETHb, LBTC, YFI0xf0db…5b1b11% of vault · $218,372drainable if it is compromised


Full-deposit & protocol-level(2)
	100%	Full deposit	Instant
	5%	up to 89%	Instant
Price-driven collateral stress(1)
	5%	up to 89%	Instant
Oracle & liquidation failures(4)
	5%	up to 89%	Instant
	5%	up to 89%	Instant
	5%	up to 29%	Instant
	—	up to 11%	Instant
Vault role & allocator(4)
	—	Full deposit	3 days
	—	Full deposit	Instant
	—	up to 50%	3 days
	—	up to 28%	Instant

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-7 multisig0xfeae…e36f

Curator2-of-3 multisig0x90d0…6b51

Guardian3-of-5 multisig0xbfaa…b02e

Allocators42 contracts2 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.

contract0xffb8…0862
contract0xa090…0467
single key (EOA)0x75a1…780d
single key (EOA)0x50b7…a8fa

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 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 TokenMORPHO0x58D9…c2B2

Dependencies that can affect your deposit

11 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 28min agoSources:on-chain reads via @defillama/sdkhttps://hub.snapshot.org/graphqlhttps://api.morpho.org/graphql

Yearn OG USDC

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