Weekly RiskDAO report 3 Jan ‘23

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


Avi Eisenberg, DeFi’s most prolific exploitooorr, got arrested last week by US authorities in Puerto Rico. He is charged with market manipulation over the Mango Markets exploit. The entire affidavit can be found here and includes details on how Avi Eisenberg operated, including KYC fraud.

Maple Finance & Pool Delegate M11 have distributed reimbursements in the form of $MPL token for the Orthogonal Trading default. Orthogonal caused the first major credit default in the unsecured lending sector. Lenders are now holding $MPL as a form of compensation for material losses in USDC and WETH.

Dopex, another major DeFi protocol on Arbitrum, has released a summary blogpost on the potential of OptionFi (aka OpFi). Among the different themes, the write-up introduces put-based lending: e.g. borrowers deposit ETH collateral and buy an ETH put option for the duration of the loan. These novel types of borrowing models are interesting and we will follow developments to update the Vesta community.

Dashboard Highlights

The cap utilization of gOHM has gone up from 78.8% to 89.2%.

The VAR for the worst day simulation stands at zero. Current MCRs are at recommended levels (ETH-Vault) or well above them (all other).

The weight of $VST in the VST-FRAX has declined slightly to 70%.

Total pool collateral amounts to $22.5m. gOHM remains the #1 collateral asset accounting for $14.2m or 63% of total collateral base, followed by sGLP which stands at $5.4m (23.7% of total collateral).

Based on existing mint caps, the MCR for DPX is slightly below recommended levels. This should be monitored.

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