Onchain Risk Monitor

Numbers the ecosystem quotes, measured against the chain. Morpho impaired exposure with interest accrual stripped out, and EigenLayer slashing exposure that is opt-in only. Data through 2026-10-19 · page built 2026-10-19 06:12 UTC

Markets observed

618

Impaired

Unpriceable

Days of record

Impaired markets collateral no longer covers borrow

Nominal supply keeps compounding once a position cannot be repaid. Corrected exposure is the supply on the last day coverage was ≥ 1 — the principal actually at risk. The gap between the two columns is why this page exists.

Collateral	Loan	LLTV	Collateral USD	Nominal supply	Corrected
PAXG	USDC	0.92	249	17,517,380,086	182,874
sdeUSD	USDC	0.92	0	11,657,998,475	16,822,829
wstUSR	USDC	0.92	538,919	369,472,271	9,491
msY	USDC	0.86	17,601,326	233,641,593	39,790,426
RLP	USDC	0.86	130,927	122,601,732	7,216,170
WETH	USDC	0.92	2	101,974,699	not reconstructed
USR	USDC	0.92	108,082	47,286,018	22,677
msY	USDC	0.92	2,564,113	22,999,884	5,963,961
USR	USDC	0.92	24,770	17,558,182	20,247
AVLT	USD₮0	0.92	707,269	11,194,384	not reconstructed
RLP	AUSD	0.86	26,551	10,828,198	not reconstructed
amphrETH	WETH	0.86	811	4,360,993	852
RLP	USDC	0.86	6,099	2,481,756	not reconstructed
deUSD	USDC	0.86	0	1,757,955	5,673
RLP	USDC	0.86	1,315	718,465	70,069
cbBTC	wUSDL	0.86	3,376	306,039	not reconstructed
yUSD	USDC	0.92	329	150,365	645
AVLT	USDC	0.86	280	149,642	8,606,198
yUSD	vbUSDC	0.86	1	37,179	not reconstructed
LBTC	dUSD	0.77	3,048	17,576	not reconstructed
yETH	WETH	0.92	687	16,486	765
hbUSDT	USR	0.92	10,177	13,788	not reconstructed
RLP	USR	0.86	68	11,107	not reconstructed
yUSD	USDC	0.92	633	5,619	430
USDC	LCAP	0.92	1,655	1,770	not reconstructed

Vault exposure nominal → corrected

Nominal total $482,404,560 → corrected $819,198, a ~589× difference. Without this correction curators get flagged as impaired when they are not. These are exposure ceilings, not realised losses.

Vault	Curator	Vault TVL	Nominal	Corrected
Adpend USDC	unregistered	312,303,450	312,303,450	450,663
1337 USDC	unregistered	166,498,416	166,498,416	240,262
Duplicated Key	unregistered	1,393,636	1,393,636	82,028
Apostro Resolv USDC	Apostro	355,577	1,008,886	36,488
MEV Capital Elixir USDC	MEV Capital	976,276	976,276	3,150
SovaBase USDC	unregistered	48,631	48,631	2,862
Landforge Premier USDC	unregistered	13,861	13,861	1,352
Tanken USDC	unregistered	131,149	131,149	1,091
Dapp-Learning-Vault	unregistered	13,100	13,100	608
ABRC	unregistered	5,077	7,871	230
alpha8USDC	unregistered	3,842	3,841	226

Unpriceable collateral cannot be judged either way

With no price feed the collateral shows as $0. Reading that as impairment is a false positive — 19 of our own first 34 flags were exactly this. Listed separately rather than mixed into the table above.

Collateral	Markets	Reported borrow
K	1	17,373,088,558
BONDUSD	1	5,693,933,516
HERMES	25	2,094,616,879
USDT	2	409,153,159
xUSD	1	162,641,448
GVLT	2	68,762,001
AZND	1	63,914,152
sdeUSD	1	53,661,593
sUSDX	5	28,881,853
COPS	2	25,725,137
GUARD	1	25,011,135
PROOF	1	25,010,568
REMIT	1	25,010,563
PT-RLP-9APR2026	1	24,285,292
steakEURCV	1	10,823,622

Restaking slashing exposure EigenLayer, opt-in only

Slashing on EigenLayer is opt-in: an operator must allocate magnitude to an operator set before any stake becomes slashable (currentMagnitude == 0 → continue in _slashOperator). So "how much is at risk" is arithmetic, not a forecast. The share that can be slashed is currentMagnitude / maxMagnitude — not /1e18, a correction that moved our own figure by +45%.

Slashable now

$4,916,109

Operators opted in

AVSs

Slashing events ever

Native restaked ETH (beaconChainETHStrategy) has never appeared in an allocation event — the largest pool has not opted in at all. Every one of the 15 OperatorSlashed events on record is a dummy test, a demo, or advertising placed in the description field; none is an operational slashing.

AVS	Operators	Allocations	Slashable USD
0xe65c3eccd18879e103dbc9	6	6	3,307,441
0x12b75d5ed35320b33daf37	1	8	1,455,884
0x115c1d01133337f311c793	8	25	108,178
0x90c68bf0caca6b2a8ba7ed	2	3	44,602
0x26ddbf2a2f0bf8a7f656fa	2	2	4
0x06f682439e6893a96d70b4	1	2	0
0x66fd56588f73b9bde49722	2	4	0
0xbecc1d0b0eb3f1b7164f93	2	2	0
0xf07f83ff977dd004060f00	1	1	0

Every OperatorSlashed event, most recent first:

Block	Operator	wad	description
25314910	0x5accc90436	1000000000000000000.000	👉 eigenyields.xyz/vaults
24995362	0x5accc90436	1000000000000000000.000	👉 eigenyields.xyz/vaults
24995349	0x5accc90436	1000000000000000000.000	👉 eigenyields.xyz/vaults
24995337	0x5accc90436	1000000000000000000.000	👉 eigenyields.xyz/vaults
24995322	0x5accc90436	1000000000000000000.000	👉 eigenyields.xyz/vaults
24995310	0x5accc90436	1000000000000000000.000	👉 eigenyields.xyz/vaults

Observation log each day's calls are recorded

Most tools make calls and never score them. Every day's flags are written down here. Once enough incidents accumulate, precision and recall get published. While the record is short, that is stated plainly rather than hidden.

Date	Markets	Impaired	Unpriceable
2026-09-20	587	24	80
2026-09-21	588	26	77
2026-09-22	587	25	76
2026-09-23	588	25	78
2026-09-24	587	25	79
2026-09-25	587	25	79
2026-09-26	588	25	79
2026-09-27	592	25	80
2026-09-28	596	25	81
2026-09-29	599	25	81
2026-09-30	600	25	81
2026-10-01	601	26	81
2026-10-02	601	25	78
2026-10-03	601	27	76
2026-10-04	598	26	75
2026-10-05	599	26	76
2026-10-06	604	21	82
2026-10-07	607	22	82
2026-10-08	605	26	80
2026-10-09	604	21	84
2026-10-10	604	21	83
2026-10-11	603	21	83
2026-10-12	603	26	78
2026-10-13	604	21	83
2026-10-14	608	24	83
2026-10-15	605	26	80
2026-10-16	605	21	86
2026-10-17	607	21	87
2026-10-18	618	26	92
2026-10-19	618	26	92