Is Summer.fi Safe?
Risk Grade: B- (31/100)
Summer.fi is rated as moderate risk — some novel mechanisms, generally well-understood.
Lower risk — years of production use and solid automation, but unified leverage across three protocols creates correlated liquidation risk during crashes
Originally the MakerDAO frontend (Oasis.app), now a one-stop interface for leveraged crypto positions across Aave, Maker, and Morpho. It holds $150M in deposits. Its B grade reflects battle-tested automation inherited from DeFi Saver, offset by the correlated risk of running leveraged positions across three protocols at once.
TVL
$20M
Mechanisms
6
Interactions
5
Value Grade
C+
Key Risks for Summer.fi Users
When ETH drops sharply, Summer.fi tries to deleverage your positions on Aave, Maker, and Morpho all at the same time. That concentrated sell pressure makes slippage worse and leads to bigger losses than if the positions were independent
A hack on any one of the three underlying protocols (Aave, Maker, Morpho) directly hits Summer.fi vaults. You are exposed to the weakest link across three separate smart contract systems
During a gas price spike, the automated protection that saves you from liquidation may cost too much to execute. Your position gets liquidated right when the protection was supposed to save it
Top Risk Factors
- •Unified leverage automation across Aave, Maker, and Morpho creates correlated liquidation risk; a sharp price move triggers simultaneous deleveraging across all integrated protocols
- •Inherits security risks from three underlying lending protocols (Aave, Maker, Morpho); an exploit in any base layer compromises Summer.fi vaults built on that protocol
- •Formerly Oasis.app (original MakerDAO frontend), meaning legacy smart contract risk and tight coupling to Maker's economic model persist despite rebrand
Risk Score Breakdown
Summer.fi's highest risk area is Vitality Risk (8/10). Here's how each dimension contributes to the overall 31/100 score:
Read the Full Summer.fi 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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