BEND

BEND receives a B- risk grade (32/100) from Hindenrank, where lower scores indicate lower risk. Moderate risk — well-audited Morpho fork with isolated market design limits contagion, but the young Berachain deployment and PoL reward dependency introduce meaningful uncertainty. BEND is Berachain's native lending protocol, forked from the battle-tested Morpho codebase. It enables permissionless lending and borrowing of ETH, BTC, BERA derivatives, and stablecoins through isolated markets. With ~$17M TVL, it benefits from Berachain's Proof-of-Liquidity rewards but is still very early in its operating history.

The key risks identified for BEND are: (1) Built on Berachain which launched in February 2025 — the entire chain ecosystem is still young and unproven at scale (2) Relies on oracle price feeds for liquidations — if an oracle provides incorrect data, borrowers and lenders in the affected market could suffer losses (3) Much of the protocol's TVL may be attracted by BGT reward emissions rather than organic lending demand, making deposits potentially unstable

BEND scores 32/100 across eight risk dimensions: Mechanism Novelty: 3/15, Interaction Severity: 5/20, Oracle Surface: 5/10, Documentation Gaps: 2/10, Track Record: 6/15, Scale Exposure: 3/10, Regulatory Risk: 3/10, Vitality Risk: 5/10. The highest risk area is Oracle Surface at 5/10.

Among 90 rated Lending protocols on Hindenrank, BEND ranks #29 by safety (lowest risk score = safest). Its 32/100 risk score and B- grade place it among the safer Lending protocols.

BEND scores 6/15 on the Track Record risk dimension, indicating some history of security incidents or exploits. Higher scores reflect more severe or frequent incidents. Review the full risk report for details.