Is Equilibria Safe?
Risk Grade: B (27/100)
Equilibria is rated as moderate risk — some novel mechanisms, generally well-understood.
Moderate risk — proven Convex-style yield boosting with security audits, balanced by full dependency on Pendle Finance and liquid wrapper peg stability risk.
Equilibria is a yield booster for Pendle Finance with $28M TVL, offering enhanced yields by aggregating vePENDLE governance power. Its B grade reflects established Convex-style mechanics with multiple security audits, balanced by full dependency on Pendle and liquid wrapper peg stability risk.
TVL
$21M
Mechanisms
5
Interactions
4
Value Grade
D+
Key Risks for Equilibria Users
Equilibria is entirely dependent on Pendle Finance. If Pendle has a security issue or governance change, Equilibria's boosted yields could be reduced or eliminated.
ePENDLE makes locked PENDLE governance power liquid and tradeable. If it loses its peg to PENDLE, holders face exit losses.
The protocol monitors 300+ Pendle pools. This complexity could lead to missed opportunities or delayed responses.
Top Risk Factors
- •Equilibria is a yield booster built on top of Pendle Finance, creating a layered dependency where any issue with Pendle directly impacts Equilibria users
- •ePENDLE liquid wrapper for vePENDLE defeats the lock mechanism's alignment incentive and enables governance power to be traded — a known I-08 interaction risk
- •With 300+ Pendle pools and $28M TVL, Equilibria depends on maintaining a large vePENDLE position; if the ePENDLE/PENDLE peg breaks, boosted yields are compromised
Risk Score Breakdown
Equilibria's highest risk area is Vitality Risk (7/10). Here's how each dimension contributes to the overall 27/100 score:
Read the Full Equilibria 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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