Weekly RiskDAO report 31 Jan ‘23

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


Both Aave & Compound have recently launched v3s on Ethereum Mainnet. Kaiko published a very interesting chart highlighting withdrawal volumes from v2 as a possible indicator of product cannibalization: So far, token withdrawals have not shown unusually high volumes.

RAI, Reflexer Labs’ ETH-backed stablecoin, received a fair amount of attention as co-founder Ameen publicly criticized the ETH-only model. He argues that ETH staking yields introduce an opportunity cost which reduces the amount of ETH flowing into RAI. RAI was built on the ethos of decentralized collateral & governance with a certain “ETH-purity”. Ameen’s tweet triggered a a public debate about what other collateral types RAI should accept (eg staked ETH) from the community and other protocol members.

LUSD is going multi-chain using Stargate Finance.

Mango Markets is suing Avi Eisenberg for $47m in damages.

Dashboard Highlights

The cap utilization of gOHM is steady at 89%.

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 slightly increased from 70% to 74%.

Total pool collateral is holding steady around $22m. gOHM remains the #1 collateral asset accounting for $13.8m or 62% of total collateral base, followed by sGLP which stands at $4.1m (18% of total collateral) in line with last week’s levels.

Total debt amounts to $9.2m which equates to a utilization rate of 41%. The Top 10 debtors account for 44% of the total debt volume.

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