Saphyre V3

Saphyre V3 receives a C risk grade (44/100) from Hindenrank, where lower scores indicate lower risk. Elevated risk — a concentrated liquidity DEX on Sei with critically insufficient public documentation to fully assess smart contract and mechanism design risks. Saphyre V3 is a concentrated liquidity DEX operating on the Sei blockchain, offering Uniswap V3-style trading with customizable price ranges for liquidity providers. With $15M in TVL, it provides swap functionality for Sei ecosystem tokens. The C+ risk grade reflects the protocol's extremely limited public documentation, lack of visible audit reports, and the inherent risks of operating a V3 fork on a newer chain. Limited data was available for this assessment.

The key risks identified for Saphyre V3 are: (1) Almost no public documentation is available for this protocol — without detailed technical specs or audit reports, it is difficult to assess the security of the smart contracts holding your funds (2) As a liquidity provider, you face impermanent loss risk that can be amplified in concentrated liquidity positions, especially during volatile markets (3) The protocol operates on Sei, a newer blockchain — any chain-level issues directly impact your ability to trade or withdraw funds

Saphyre V3 scores 44/100 across eight risk dimensions: Mechanism Novelty: 3/15, Interaction Severity: 4/20, Oracle Surface: 2/10, Documentation Gaps: 8/10, Track Record: 13/15, Scale Exposure: 3/10, Regulatory Risk: 4/10, Vitality Risk: 7/10. The highest risk area is Track Record at 13/15.

Among 111 rated DEX protocols on Hindenrank, Saphyre V3 ranks #98 by safety (lowest risk score = safest). Its 44/100 risk score and C grade place it among the riskier DEX protocols.

Saphyre V3 scores 13/15 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.