Vesu STRK Alterscope wstETH Risk Report
Summary
The Vesu STRK Alterscope wstETH market represents STRK deposits in Alterscope's Alterscope wstETH pool.
The pool enables wstETH as collateral asset to borrow a variety of loan assets including ETH, WBTC, STRK, USDC, USDT. It uses Vesu's official factory extension with Pragma price feeds.
The market's overall risk rating is 🟩 Low.
Datapoints
Pool Risk
The Alterscope wstETH pool is curated by Alterscope, a professional risk curator currently operating vaults on Euler and offering autonomous risk agents across various chains and platforms.
The pool uses Vesu's audited factory extension which leverages a robust Pragma feed and Vesu's public liquidation model.
Alterscope has the permission to pause the pool in an emergency situation and update various parameters including debt caps and liquidation loan-to-value ratios.
Given Alterscope's expertise in assessing, monitoring and managing DeFi risks and their operational setup, including a multisig owning the pool permissions, the pool risk is deemed low.
Datapoints
Rating
The proposed rating is:
- 🟩 Low
Asset Risk
This report does not assess the risks associated with bridging assets to Starknet using StarkGate. Make sure you understand the risks involved with bridging assets to Starknet before continuing.
StarkGate STRK reflects Ethereum mainnet STRK that is bridged to Starknet using the StarkGate bridge. StarkGate is Starknet's canonical bridge and is developed and maintained by StarkWare, the creator of Starknet. The bridge is operational since early 2022 and has facilitated over 1.9M bridge transactions or over USD 1.7bn in value bridged.
Smart contract risk
StarkGate STRK uses OpenZeppelin's standard ERC20 token implementation. It has been audited by Nethermind and both source code and audit report are publicly available.
The StarkGate STRK contract is not verified on block explorers.
Counterparty risk
N/A
Depeg risk
N/A
Datapoints
Rating
The proposed rating is:
- 🟩 Low
Oracle Risk
The pool uses Pragma's STRK/USD price feed.
The Pragma oracle is a native Starknet oracle system that secures over USD 200m across all major projects on Starknet.
It is fully decentralized in that it does not rely on off-chain infrastructure. Instead, data providers directly push prices on-chain and aggregation is done by the data consumer directly.
Smart contract risk
Find an overview of the Pragma smart contract system here.
The Pragma smart contracts have been audited by Nethermind and both the source code and audit report are publicly available.
Price composition & source diversity
The oracle price is computed as the Median over the most recent data points available for the various Pragma providers.
Oracle fail-safes
No autonomous oracle fail-safes and fallbacks are configured. Alterscope monitors and pauses pools manually in case of an emergency.
Datapoints
Rating
The proposed rating is:
- 🟩 Low
Market Risk
STRK deposits can be borrowed with wstETH as collateral.
The pool enforces debt caps and liquidation discounts reflecting the on-chain liquidity available for liquidations.
Liquidations, as per the used official factory extension (see Section Pool Risk), are public and prioritize rapid liquidations.
The resulting market risk is computed using the Standard Market Risk Model.
The proposed rating is:
- 🟩 Low
Collateral Risk
The pool enables borrowing of STRK only with wstETH collateral, which itself achieves a "Low" rating. Collateral rehypothecation is not enabled in the pool.
The proposed rating is:
- 🟩 Low