risk-assessment

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Risk Assessment

风险评估

Evaluate the risk profile of a DeFi protocol by examining its security history, oracle dependencies, treasury, fundamentals, and yield levels.

通过审查DeFi协议的安全历史、Oracle依赖情况、国库状况、基本面以及收益水平，评估其风险状况。

Workflow

工作流程

Step 1 - Resolve the protocol entity

步骤1 - 解析协议实体

defillama:resolve_entity
  entity_type: "protocol"
  name: "<user-provided name>"

defillama:resolve_entity
  entity_type: "protocol"
  name: "<用户提供的名称>"

Step 2 - Hack history

步骤2 - 黑客攻击历史

Check whether the protocol has been exploited before.

defillama:get_events
  protocol: "<slug>"
  event_type: "hacks"

Any past hacks are a significant risk signal. Note the date, amount lost, and whether funds were recovered.

检查该协议是否曾遭利用。

defillama:get_events
  protocol: "<slug>"
  event_type: "hacks"

任何过往的黑客攻击都是重要的风险信号。需记录攻击日期、损失金额以及资金是否追回。

Step 3 - Oracle dependencies

步骤3 - Oracle依赖情况

Identify which oracle the protocol relies on and how much value it secures.

defillama:get_oracle_metrics

Filter results for the protocol's oracle. Oracle metrics automatically filter to

tvl_component = 'base'

and aggregate with SUM/GROUP BY to exclude double-counted TVL. A protocol using a small or unproven oracle has higher risk than one using Chainlink or Pyth.

确定协议依赖的Oracle及其保障的价值规模。

defillama:get_oracle_metrics

筛选出该协议所使用Oracle的结果。Oracle指标会自动过滤为

tvl_component = 'base'

，并通过SUM/GROUP BY进行聚合以排除重复统计的TVL。使用小型或未经验证Oracle的协议，其风险高于使用Chainlink或Pyth的协议。

Step 4 - Treasury health

步骤4 - 国库健康度

Assess the protocol's financial reserves.

defillama:get_treasury
  treasury: "<slug>"

A healthy treasury provides a safety net for bug bounties, insurance, and continued development.

评估协议的财务储备状况。

defillama:get_treasury
  treasury: "<slug>"

健康的国库可为漏洞赏金、保险以及持续开发提供安全保障。

Step 5 - Protocol fundamentals

步骤5 - 协议基本面

Check TVL, revenue, and trends to evaluate sustainability.

defillama:get_protocol_metrics
  protocol: "<slug>"

Key signals: Is TVL growing or declining? Is the protocol generating real revenue?

检查TVL、收入及趋势以评估可持续性。

defillama:get_protocol_metrics
  protocol: "<slug>"

关键信号：TVL是增长还是下降？协议是否产生实际收入？

Step 6 - Yield analysis

步骤6 - 收益分析

Examine pool APYs for sustainability red flags.

defillama:get_yield_pools
  protocol: "<slug>"

审查池APY是否存在可持续性预警信号。

defillama:get_yield_pools
  protocol: "<slug>"

Risk Signals

风险信号

Evaluate each factor and assign a risk level:

Signal	Risk Level	Explanation
Recent hack (< 1 year)	HIGH	Protocol was recently exploited
Past hack (> 1 year), no recurrence	MODERATE	Was exploited but has since hardened
No hack history	LOW	No known exploits
No oracle or small oracle TVS	MODERATE	Oracle risk, potential manipulation
Uses Chainlink/Pyth with high TVS	LOW	Battle-tested oracle infrastructure
Treasury < $1M	HIGH	No meaningful safety net
Treasury > $10M	LOW	Strong financial reserves
APY > 100% from rewards only	HIGH	Likely unsustainable, token emissions
APY from real yield (fees)	LOW	Sustainable yield source
TVL declining > 20% in 30d	MODERATE	Users are leaving
Revenue declining with TVL	HIGH	Fundamentals deteriorating

评估各因素并划分风险等级：

信号	风险等级	说明
近期黑客攻击（< 1年）	高	协议近期遭利用
过往黑客攻击（> 1年），无再次攻击	中	曾遭利用但已加固
无黑客攻击历史	低	无已知利用记录
无Oracle或Oracle保障的TVS规模小	中	Oracle风险，存在被操纵可能性
使用Chainlink/Pyth且TVS规模大	低	经实战检验的Oracle基础设施
国库价值 < 100万美元	高	无有效安全保障
国库价值 > 1000万美元	低	强劲的财务储备
仅靠奖励实现APY > 100%	高	收益可能不可持续，依赖代币增发
收益来自实际费用（真实收益）	低	收益来源可持续
30天内TVL下降 > 20%	中	用户正在流失
收入随TVL一同下降	高	基本面恶化

Output Format

输出格式

Present the report with these sections:

Risk Summary - Overall risk rating (LOW / MODERATE / HIGH) with a one-sentence justification.
Security History - Hack incidents, amounts, and outcomes.
Oracle Risk - Which oracle is used, TVS secured, reliability.
Treasury Health - Total treasury value, composition, runway.
Fundamental Health - TVL trend, revenue, user activity direction.
Yield Sustainability - Are yields from real fees or emissions?
Risk Factors - Bullet list of all identified risk signals with their severity level.

报告需包含以下部分：

风险摘要 - 整体风险评级（低/中/高）及一句理由说明。
安全历史 - 黑客攻击事件、损失金额及结果。
Oracle风险 - 使用的Oracle类型、保障的TVS规模、可靠性。
国库健康度 - 国库总价值、构成、运营周期。
基本面健康度 - TVL趋势、收入、用户活动方向。
收益可持续性 - 收益来自实际费用还是代币增发？
风险因素 - 所有已识别风险信号的项目符号列表，包含其严重程度。

Tips

提示

No data from
```
get_events
```
for hacks is a positive signal, not missing data.
A protocol with high TVL but zero revenue may be subsidizing usage with token emissions - flag this.
Compare treasury value to TVL: treasury < 1% of TVL means limited ability to cover losses.
Multiple past hacks on the same protocol is a stronger negative signal than a single incident.

No data from
```
get_events
```
for hacks is a positive signal, not missing data.
A protocol with high TVL but zero revenue may be subsidizing usage with token emissions - flag this.
Compare treasury value to TVL: treasury < 1% of TVL means limited ability to cover losses.
Multiple past hacks on the same protocol is a stronger negative signal than a single incident.