PenpieMicro-cap

Penpie receives a C risk grade (50/100) from Hindenrank, where lower scores indicate lower risk. High risk — proven security failures and total dependency on another protocol make this a fragile place to park funds A yield booster that sits on top of Pendle, letting you earn higher returns by pooling voting power. It holds about $80M in deposits. Its D+ grade is driven by a $27M hack in September 2024 and the fact that your money is 100% dependent on Pendle staying safe -- if Pendle fails, Penpie fails with it.

The key risks identified for Penpie are: (1) Already hacked for $27M in September 2024 -- attackers created a fake market and drained funds through a code vulnerability (2) Every dollar in Penpie depends entirely on Pendle working correctly. If Pendle gets exploited, you lose everything here too (3) After a hack, the protocol faces a lose-lose choice: print new tokens (destroying existing holders' value) or let victims absorb the loss

Penpie scores 50/100 across eight risk dimensions: Mechanism Novelty: 0/15, Interaction Severity: 14/20, Oracle Surface: 3/10, Documentation Gaps: 5/10, Track Record: 15/15, Scale Exposure: 3/10, Regulatory Risk: 3/10, Vitality Risk: 7/10. The highest risk area is Track Record at 15/15.

Among 112 rated Yield protocols on Hindenrank, Penpie ranks #108 by safety (lowest risk score = safest). Its 50/100 risk score and C grade place it among the riskier Yield protocols.

Penpie scores 15/15 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.