Ember Protocol

Ember Protocol receives a B- risk grade (34/100) from Hindenrank, where lower scores indicate lower risk. Moderate risk — strong institutional backing and Sui ecosystem positioning, but curator discretion and cross-chain risk require careful vault selection Ember Protocol is a structured vault platform on Sui blockchain, incubated by the Bluefin team (Bluewater Labs). It lets independent managers create and operate yield vaults that span DeFi, CeFi, and real-world assets. With $57M in deposits and institutional backing from SUI Group's $10M treasury deployment, it's positioning as Sui's yield infrastructure. However, the permissionless curator model and cross-chain strategy execution introduce significant trust and bridge risk.

The key risks identified for Ember Protocol are: (1) Vault managers ('curators') have broad control over where your money goes — a bad or dishonest curator could deploy your funds into risky or fraudulent protocols (2) Some strategies send your money across different blockchains using bridges, which have been responsible for billions in DeFi losses from hacks (Wormhole, Ronin, Nomad) (3) Parts of the yield strategies run off-chain in traditional finance, meaning you can't verify on the blockchain that your money is being managed as promised

Ember Protocol scores 34/100 across eight risk dimensions: Mechanism Novelty: 6/15, Interaction Severity: 8/20, Oracle Surface: 4/10, Documentation Gaps: 3/10, Track Record: 5/15, Scale Exposure: 3/10, Regulatory Risk: 2/10, Vitality Risk: 3/10. The highest risk area is Mechanism Novelty at 6/15.

Among 112 rated Yield protocols on Hindenrank, Ember Protocol ranks #46 by safety (lowest risk score = safest). Its 34/100 risk score and B- grade place it in the middle tier of Yield protocols.

Ember Protocol scores 5/15 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.