Weekly RiskDAO report 21 Mar ‘23

All referenced data can be accessed directly on the Vesta dashboard by RiskDAO.


BTC has broken through $28k and ETH touched $1.8k over the weekend as the global financial sector continues to face significant pressures. Over the weekend, UBS agreed to buy Credit Suisse with the support of the Swiss central bank. There’s more stress in the system and macro voices are calling for QE already.

In other new, well-known crypto thinker & VC Balaji placed a $2m bet that BTC hits $1m in the next 90 days.

Almost forgotten in last week’s carnage, this stand-off still has not been resolved. As of last week, it appeared as if AH gave in to IB’s demands and allowed AH protocol bad debt to be transferred to its users. However, this AH snapshot vote from 13 March highlights that the community is opposed to this solution and wants to hear alternative proposals. In the meantime, $40m of user deposits remain frozen on IB (ETH Mainnet).

IB offered to individually unfreeze markets but AH declined arguing this would be unfair towards users.

The Euler hackers returned about $5.4m of stolen funds to the protocol over the weekend. Addresses associated with the hacker are linked to North Korea’s Lazarus Group.

Dashboard Highlights

The cap utilization of gOHM increased from 74% to 97%. The cap utilization for sGLP also stands at 97%.

The VAR for the worst day simulation stands at zero. Current MCRs are at or above recommended levels.

The weight of $VST in the VST-FRAX has increased from 32% to 39%.

Total pool collateral has increased from $16.7m to $17.1m. gOHM remains the #1 collateral asset accounting for $11.3m or 66% of total collateral base, followed by DPX which stands at $3m (18% of total collateral) and ETH at $1.6m (9% of total collateral).

Total debt amounts to $6.4m (+$0.3m) which equates to a utilization rate of 37.5%. The Top 10 debtors account for 51% of the total debt volume.