Tail scenarios — NAV impact per vault

A shared set of historically plausible and structurally relevant tail events applied to every tracked vault. Rank by worst case, not by headline APY. Impacts are derived from current allocations and the per-vault scenarios surfaced on each vault page.

Cross-vault

Scenario × vault matrix

Each column is a scenario. Each row is a vault. Cell value is the modeled NAV impact in percent. Click any vault to see the per-vault detail and the allocation drivers behind the number.

Stress scenario library

Modeled NAV impact per vault across a shared set of historically plausible and structurally relevant tail events. Each cell value is derived from the same formula shown on the vault detail page:impact = − shock × exposed share × pass-through. Cells show—when the scenario does not apply (e.g. an LRT shock to a vault with no LRT collateral).

Vault	Loan-asset shockWorst-case loan-asset event for this vault — depeg for stables (USDC 12%, USDT 5%, DAI 3%, USDe 6%, …), drawdown for ETH/LSTs (30–34%), custody discount for BTC wrappers (WBTC 10%, cbBTC 5%, LBTC 8%). The cell shows the magnitude actually modeled for this vault's loan asset; hover for the specific scenario.	LRT discount 20%Liquid restaking tokens (weETH, ezETH, rsETH…) used as collateral. Modeled at a 20% discount.	LST depeg 7%Liquid staking tokens (wstETH, rETH, cbETH…) used as collateral. Modeled at the May/Jun 2022 stETH magnitude.	Pendle PT dislocation 15%PT collateral can trade at unexpected discounts before maturity if implied yield diverges from the underlying.	Exotic / tranche shock 25%First-loss tranches (RLP) and strategy wrappers (Upshift) — failures in the underlying strategy show up here first.	L2 sequencer halt 48h48h halt drives bad-debt accrual proportional to each allocation's LLTV buffer × expected collateral drift × chain-severity factor, plus a forced-exit discount on stressed-utilization markets. Ethereum L1 is not applicable.	Morpho contract vulnerabilityTail-case: a vulnerability surfaces in Morpho affecting the vault's largest single market. Modeled at 50% loss on that exposure since markets are isolated.	Curator misallocationCurator routes into a market that develops bad debt or an oracle break. Modeled at 50% bad-debt recovery on the worst single position.	$50M same-day redemptionHaircut a $50M same-day redemption would take. Idle-buffer waterfall × TVM on the queued slice × collateral-weighted forced-exit discount.
Gauntlet USDC PrimeGauntlet · Base	-12%	—	—	—	—	-0.6%	-46.4%	-46.4%	-0.1%
Steakhouse Prime USDCSteakhouse Financial · Base	-12%	—	—	—	—	—	-50%	-50%	0%
Paypal USD MainSentora · Ethereum	-4%	—	—	—	—	—	-50%	-50%	0%
Sentora RLUSD MainSentora · Ethereum	-5%	—	—	—	—	—	-50%	-50%	0%
Steakhouse High Yield USDC EditionSteakhouse Financial · Base	-12%	—	—	—	—	—	-50%	-50%	0%
Steakhouse Prime USDCSteakhouse Financial · Base	-12%	—	—	—	—	-0.5%	-49.8%	-49.8%	-0.4%
Steakhouse USDCSteakhouse Financial · Base	-12%	—	—	—	—	-0.5%	-49.8%	-49.8%	-0.5%
Sentora PRIME MainSentora · Ethereum	-4%	—	—	—	—	—	-50%	-50%	0%
Steakhouse Prime EURCVSteakhouse Financial · Ethereum	—	—	—	—	—	—	-50%	-50%	0%
Steakhouse USDCSteakhouse Financial · Ethereum	-12%	—	—	—	—	—	-39.3%	-39.3%	-0.6%
Steakhouse USDTSteakhouse Financial · Ethereum	-5%	—	—	—	—	—	-50%	-50%	-1.1%
Gauntlet USDC PrimeGauntlet · Base	-12%	—	—	—	—	—	-50%	-50%	0%
Ethena x Steakhouse USDCSteakhouse Financial · Base	-12%	—	—	—	—	—	-50%	-50%	0%
Steakhouse Prime USDCSteakhouse Financial · Ethereum	-12%	—	—	—	—	—	-50%	-50%	0%
Steakhouse Prime USDTSteakhouse Financial · Ethereum	-5%	—	—	—	—	—	-50%	-50%	0%
Gauntlet USDC PrimeGauntlet · Ethereum	-12%	—	—	—	—	—	-50%	-50%	0%
sky.money USDT SavingsSky Money · Ethereum	-5%	—	—	—	—	—	-50%	-50%	0%
sky.money USDS FlagshipSky Money · Ethereum	-3%	—	—	—	—	—	-50%	-50%	-0.1%
Steakhouse High Yield USDCSteakhouse Financial · Ethereum	-12%	—	—	—	—	—	-50%	-50%	-0.1%
Wintermute USDC SelectArmitage by Wintermute · Ethereum	-12%	—	—	—	—	—	-50%	-50%	-0.1%
Hyperithm USDC ApexHyperithm · Monad	-12%	—	—	—	—	—	-50%	-50%	-0.2%
Galaxy USDT QualityGalaxy Curation · Ethereum	-5%	—	—	—	—	—	-50%	-50%	-0.2%
Gauntlet USDC PrimeGauntlet · Ethereum	-12%	—	—	—	—	—	-27.1%	-27.1%	-0.8%
Steakhouse High Yield USDCSteakhouse Financial · Base	-12%	—	—	—	—	—	-50%	-50%	-0.2%
Vault Bridge WETHGauntlet · Ethereum	-30%	-0.4%	-0.2%	—	—	—	-37.9%	-37.9%	-1.3%