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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% 7% · wstETH −30% 5% · rETH −30% 2% · other 2% · −100% 91% modeled all-to-zero bad-debt ceiling

WETHWETHMarket40%of vault · bad debt · $342,053Oracle exposure 4%

What it's made of

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: $380,057 of $16.86m cap (2% used)Aggregate Collateral Trust (ACT):$60.38m33 vaultsToken:0x4200…0006Allocation: 44% of the vault · $380,057

If it breaks

−30% default
At −30%:est. bad debt up to 7% of depositUses 1 market LLTV curve · capped at allocation $380,057 · 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
wstETHwstETHMarket29%of vault · bad debt · $248,998Oracle exposure 3%

What it's made of

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: $272,117 of $16.86m cap (2% used)Aggregate Collateral Trust (ACT):$27.1m33 vaultsToken:0xc1cb…e452Allocation: 32% of the vault · $272,117

If it breaks

−30% default
At −30%:est. bad debt up to 5% of depositUses 1 market LLTV curve · capped at allocation $272,117 · drag to set this asset's drop
Oracle exposure: up to 3% of vault drainable if the feed is compromisedseparate path: an attacker borrows against a fake price
rETHrETHMarket10%of vault · bad debt · $88,371Oracle exposure 0.9%

What it's made of

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: $96,322 of $562,074 cap (17% used)Aggregate Collateral Trust (ACT):$37,9957 vaultsToken:0xb6fe…624cAllocation: 11% of the vault · $96,322

If it breaks

−30% default
At −30%:est. bad debt up to 2% of depositUses 1 market LLTV curve · capped at allocation $96,322 · 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
cbETHcbETHHybrid8%of vault · bad debt · $66,344Oracle exposure 0.7%

What it's made of

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: $72,452 of $16.86m cap (<1% used)Aggregate Collateral Trust (ACT):$12.91m43 vaultsToken:0x2ae3…ec22Allocation: 8% of the vault · $72,452

If it breaks

−30% default
At −30%:est. bad debt up to 1% of depositUses 1 market LLTV curve · capped at allocation $72,452 · 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
cbBTCcbBTCMarket4%of vault · bad debt · $31,109Oracle exposure 0.3%

What it's made of

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: $34,057 of $16.86m cap (<1% used)Aggregate Collateral Trust (ACT):$195.52m51 vaultsToken:0xcbb7…33bfAllocation: 4% of the vault · $34,057

If it breaks

−30% default
At −30%:est. bad debt up to 0.7% of depositUses 1 market LLTV curve · capped at allocation $34,057 · 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

Oracle dependencies

1 feed · 1 control point

Up to9%of vault drainable if these feeds are mispriced · $78,132

Each price traces to a feed and the on-chain 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 · $78,132drainable if it is compromised
Updated 34min agoSources:on-chain reads via @defillama/sdkhttps://hub.snapshot.org/graphqlhttps://api.morpho.org/graphql