Is Spectra Safe?
Risk Grade: C+ (38/100)
Spectra is rated as elevated risk — multiple novel mechanisms and notable interaction risks.
Moderate risk — useful yield trading tool, but dangerously concentrated in one yield source and already has a past exploit on its record
A yield trading platform where you can lock in fixed returns or bet on future interest rates by splitting yield-bearing tokens into principal and yield components. It holds $200M with $3.6M in funding. Its C+ grade reflects heavy concentration in a single yield source and a past smart contract exploit.
TVL
$30M
Mechanisms
7
Interactions
6
Value Grade
C-
Key Risks for Spectra Users
30-50% of all deposits are tied to a single yield source (Resolv USR). If that one source loses its peg or stops paying yield, half of Spectra's pools collapse simultaneously
In July 2024, a bug in the router contract let hackers drain tokens from user wallets. Only $73K was lost because TVL was small then. At 10x the current size, the same type of bug would cost millions
Anyone can create new yield markets for any token, including scams. A rug pull on a fake yield source creates pools where your principal can never be recovered
Top Risk Factors
- •Heavy TVL concentration in Resolv USR yield tokenization creates single-source dependency — a USR depeg would cascade through 30-50% of Spectra's pools
- •July 2024 router exploit ($73K lost) demonstrated peripheral contract vulnerabilities that could recur at much larger scale given 10x TVL growth
- •Permissionless pool creation means anyone can create markets on risky or illiquid yield-bearing assets, creating tail-risk pools that could harm platform reputation
Risk Score Breakdown
Spectra's highest risk area is Vitality Risk (8/10). Here's how each dimension contributes to the overall 38/100 score:
Read the Full Spectra Risk Report
This protocol has 2 collapse scenarios. 1 critical and 2 high-severity interaction risks identified. See the full mechanism classification, interaction matrix, and deep-dive recommendations.
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