Is Agni Finance Safe?
Risk Grade: C (46/100)
Agni Finance is rated as elevated risk — multiple novel mechanisms and notable interaction risks.
Elevated risk — standard concentrated liquidity fork on Mantle with limited differentiation, thin documentation, and full dependency on the Mantle ecosystem's growth trajectory
Agni Finance is a decentralized exchange on Mantle Network that uses concentrated liquidity (similar to Uniswap v3) to enable efficient token swaps. LPs can provide liquidity within specific price ranges for higher capital efficiency, and the protocol also features a token launchpad with an insurance pool for new project launches. With $34M in deposits, Agni is one of the largest DEXs on Mantle, processing roughly $169M in monthly volume. The AGNI governance token enables holders to vote on protocol decisions and emission distribution.
TVL
$23M
Mechanisms
6
Interactions
3
Value Grade
D
Key Risks for Agni Finance Users
Agni is a Uniswap v3 fork with modifications for Mantle Network. Fork-specific code changes have historically been a source of vulnerabilities, and audit details for these modifications are limited.
The protocol's success depends entirely on Mantle Network's growth. If Mantle loses momentum to competing L2s, Agni's liquidity and trading volume would decline proportionally.
Limited documentation and audit transparency compared to the original Uniswap v3. Users should treat this as a higher-risk alternative to the battle-tested original.
Top Risk Factors
- •Agni Finance is a Uniswap v3 concentrated liquidity fork on Mantle Network with minimal differentiation. As a fork, it inherits known risks but the Mantle-specific modifications and the launchpad feature add untested smart contract surface area.
- •The protocol's success is entirely dependent on Mantle Network's growth. At $34M TVL, Agni represents a significant portion of Mantle's DeFi ecosystem. A decline in Mantle adoption would directly erode Agni's liquidity and trading volume.
- •Documentation quality is limited compared to the original Uniswap v3. Security audit details are sparse, and the specific modifications made for Mantle compatibility have not been as thoroughly reviewed as the original codebase.
How Agni Finance Compares to Peers
Agni Finance ranks #99 of 111 DEX protocols (bottom quartile — among the riskiest). At a risk score of 46/100, it's 12 points riskier than the sector average of 34/100.
Adjacent peers: Serum (C, 45/100) is ranked just safer, and Bancor V3 (C, 46/100) is ranked just riskier.
See the full DEX sector leaderboard or the Agni Finance vs Bancor V3 comparison.
Common Questions about Agni Finance
Plain-English answers based on Agni Finance's scores across Hindenrank's 8 risk dimensions. The highest-scoring (riskiest) dimension is Track Record (14/15).
Has Agni Finance ever been hacked or exploited?
Agni Finance has a documented incident history that materially raised its risk grade — the track record dimension scored 14/15, near the high end of the scale. Past exploits, governance failures, or contract issues are baked into this rating. Anyone considering deposits should review the incident details before allocating capital.
How much money is at stake in Agni Finance?
Agni Finance currently holds roughly $23M in user deposits. Smaller TVL means individual depositors carry a larger share of any loss event, and it can be harder to exit a position quickly during stress.
What's the worst-case scenario for Agni Finance?
Hindenrank has identified specific collapse scenarios for Agni Finance. The most prominent: "Mantle Network Ecosystem Decline". The trigger condition is Mantle Network fails to sustain developer and user growth, causing a decline in ecosystem TVL and trading volume that makes Agni Finance economically unviable.. Reading through the full scenario list on the protocol page is the single best way to understand the actual failure modes — generic "smart contract risk" is rarely the thing that takes a protocol down.
Is Agni Finance regulated or insured?
Agni Finance has some regulatory exposure (4/10), typical of mid-sized DeFi protocols. There is no specific enforcement action on record, but the structure includes elements that regulators have flagged in similar protocols. No DeFi protocol carries FDIC-style insurance — even with low regulatory risk, depositors are not protected in the way bank customers are.
What are the biggest red flags for Agni Finance?
Hindenrank's retail-focused risk audit flagged: Agni is a Uniswap v3 fork with modifications for Mantle Network. Fork-specific code changes have historically been a source of vulnerabilities, and audit details for these modifications are limited. The protocol's success depends entirely on Mantle Network's growth. If Mantle loses momentum to competing L2s, Agni's liquidity and trading volume would decline proportionally. Limited documentation and audit transparency compared to the original Uniswap v3. Users should treat this as a higher-risk alternative to the battle-tested original.
Should beginners deposit into Agni Finance?
Agni Finance's C grade puts it in the elevated-risk band. This is not a beginner-friendly protocol. Anyone depositing here should treat the position as speculative and avoid concentrating significant savings in it.
How does Agni Finance compare to safer DEX alternatives?
Agni Finance is one protocol in Hindenrank's DEX coverage. The safest DEX protocols on the leaderboard tend to share three traits: a long incident-free track record, conservative mechanism design, and high-quality public documentation. Compare Agni Finance against the full DEX ranking before committing capital.
For the full 8-dimension score breakdown, the radar chart, and dependency graph, see the Agni Finance risk report.
Read the Full Agni Finance Risk Report
This protocol has 2 collapse scenarios. 1 high-severity interaction risks identified. See the full mechanism classification, interaction matrix, and deep-dive recommendations.
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