Vesu USDC Alterscope CASH Risk Report
Summary
The Vesu USDC Alterscope CASH market represents USDC deposits in Alterscope's Alterscope CASH pool.
The pool enables a variety of collateral assets, including ETH, WBTC, STRK, USDC, USDT, to borrow the CASH stablecoin. It uses Vesu's official factory extension with Pragma price feeds.
The market's overall risk rating is 🟩 Low.
Datapoints
Pool Risk
The Alterscope CASH 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 USDC reflects Ethereum mainnet USDC 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 USDC 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 USDC 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 USDC/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
USDC deposits in this pool are only enabled as collateral and are not available for others to borrow.
Rating
The proposed rating is:
- 🟩 Low
Collateral Risk
The pool does not enable collateral asset rehypothecation.
The proposed rating is:
- 🟩 Low