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Moonwell Flagship EURC

Risk reportBase0xf246…a026

Risk

Depositing into Moonwell Flagship EURC 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?
38%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 4-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 WETH −30% 8% · wstETH −30% 5% · rETH −30% 2% · other 2% · −100% 90% modeled all-to-zero bad-debt ceiling

WETHMarket41%of vault · bad debt · $328,999Oracle exposure 6%

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
  • → EURC86% LLTV0xe1bb…4b37Chainlink
Room to grow: $379,325 of $16.79m cap (2% used)Aggregate Collateral Trust (ACT):$41.83m34 vaultsToken:0x4200…0006Allocation: 47% of the vault · $379,325

If it breaks

−30% default
At −30%:est. bad debt up to 8% of depositUses 1 market LLTV curve · capped at allocation $379,325 · 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
wstETHMarket25%of vault · bad debt · $202,841Oracle exposure 0.9%

What it's made of

wstETH token page
Market· Chainlink(aggregator)

wstETH is priced via WSTETH / ETH × ETH / USD, quoted in EUR / USD — 3-hop market-rate feeds (Chainlink).

BaseWSTETH / ETHMarketChainlinkETH / USDMarketChainlinkQuoteEUR / USDMarketChainlink
Markets this collateral backs · 1
  • → EURC86% LLTV0xa541…54f4Chainlink
Room to grow: $210,366 of $16.79m cap (1% used)Aggregate Collateral Trust (ACT):$25.55m34 vaultsToken:0xc1cb…e452Allocation: 26% of the vault · $210,366

If it breaks

−30% default
At −30%:est. bad debt up to 5% of depositUses 1 market LLTV curve · capped at allocation $210,366 · drag to set this asset's drop
Oracle exposure: up to 0.9% of vault drainable if the feed is compromisedseparate path: an attacker borrows against a fake price
rETHMarket11%of vault · bad debt · $89,174Oracle exposure 0.9%

What it's made of

rETH token page
Market· Chainlink(aggregator)

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

Markets this collateral backs · 1
  • → EURC86% LLTV0x4ec7…903eChainlink
Room to grow: $96,269 of $559,833 cap (17% used)Aggregate Collateral Trust (ACT):$15,9657 vaultsToken:0xb6fe…624cAllocation: 12% of the vault · $96,269

If it breaks

−30% default
At −30%:est. bad debt up to 2% of depositUses 1 market LLTV curve · capped at allocation $96,269 · drag to set this asset's drop
Oracle exposure: up to 0.9% of vault drainable if the feed is compromisedseparate path: an attacker borrows against a fake price
cbETHHybrid9%of vault · bad debt · $69,905Oracle exposure 0.3%

What it's made of

cbETH token page
Hybrid· Chainlink(aggregator)

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

Markets this collateral backs · 1
  • → EURC86% LLTV0x8c87…fe2fChainlink
Room to grow: $72,384 of $16.79m cap (<1% used)Aggregate Collateral Trust (ACT):$15.88m44 vaultsToken:0x2ae3…ec22Allocation: 9% of the vault · $72,384

If it breaks

−30% default
At −30%:est. bad debt up to 2% of depositUses 1 market LLTV curve · capped at allocation $72,384 · 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
cbBTCMarket4%of vault · bad debt · $32,959Oracle exposure 0.1%

What it's made of

cbBTC token page
Market· Chainlink(aggregator)

cbBTC is priced via BTC / USD, quoted in EUR / USD — 2-hop market-rate feeds (Chainlink).

BaseBTC / USDMarketChainlinkQuoteEUR / USDMarketChainlink
Markets this collateral backs · 1
  • → EURC86% LLTV0xa857…d799Chainlink
Room to grow: $34,027 of $16.79m cap (<1% used)Aggregate Collateral Trust (ACT):$195.77m53 vaultsToken:0xcbb7…33bfAllocation: 4% of the vault · $34,027

If it breaks

−30% default
At −30%:est. bad debt up to 0.8% of depositUses 1 market LLTV curve · capped at allocation $34,027 · 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
Unallocated (incl. $11,187 idle)1% · $9,960

Oracle dependencies

1 feed1 control point

Up to9%of vault drainable if these feeds are mispriced · $68,492

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 wstETH, WETH, cbBTC, cbETH, rETH0xf0db…5b1b9% of vault · $68,492drainable if it is compromised
Updated 31min agoSources:on-chain reads via @defillama/sdkhttps://hub.snapshot.org/graphqlhttps://api.morpho.org/graphql