MAI

· 45/100as of 2026-11-08

QiDao's MAI is overcollateralized, minted against crypto vaults; Base and Polygon are only live chains after legacy wind-down, with persistent sub-$1 trading.

Updated —

USD-Pegged Crypto-Backed Centralized-Dependent

02 May 2021

Price

$0.9956

N/A

Market cap

$11.81M

-0.02% 24h

Supply

11.86M MAI

0.00% 7d

0.00% 30d

DEWSWatch20/100 · as of 2026-11-08

Peg

Liq

30d Excess

Price

$0.9956

N/A

Market cap

$11.81M

-0.02% 24H

Supply

11.86M MAI

0.00% 7D · 0.00% 30D

30d Excess

MechanismCrypto CDPMintingGoverned CDP FreezeYesChains16 JurisdictionNot disclosed GENIUSNone Found

MintingGoverned CDP FreezeYesChains16 JurisdictionNot disclosed GENIUSNone Found

Case studyMAI: the bridge that broke the pegWounded

CDP Dollar With a Stranded Fantom Loan Book

MAI is a multi-collateral dollar whose most important number is the share of its loan book that no longer functions. An on-chain sweep of 71 QiDao vault contracts across twelve chains found roughly 2.1 million MAI of recorded vault debt, and about 72% of it sits in fifteen Fantom markets where every price source reverts. Because the price call fails, , collateral withdrawal and new borrowing all revert with it: this is Multichain-era debt that cannot be cleared, only waited out. QiDao's transparency dashboard carries those Fantom liabilities as isolated, and its homepage says the Fantom tokens return to holders once an unnamed dispute is resolved, with no date or mechanism given. Only Base and Polygon are described as fully live. The markets that do still price read exactly one Chainlink feed with no staleness check, no heartbeat enforcement and no fallback, which Pharos treats as a weak oracle branch. No deployment carries a stability pool or insurance fund, and some underwater vaults cannot be liquidated at all, because the collateral payout underflows before the keeper can be paid. Economic control is the weakest pillar on the card, and the D overall grade reflects a loan book whose working part is the smaller one.

Updated 2026-10-19 · AI summary · drafted by claude-opus-5-5 · facts as of 2026-10-19

AI policy

CeFi-Dependent|Compare

Exit evidence

Redemption route · Waiting for section

Redemption evidence loads when the Risk section approaches the viewport.

Control evidence

MAI Mint Authority

Users mint MAI against collateral under governance, controlled by multiple Safes; supply is unbounded under adverse authority.

Confidence: Manual reviewControl posture: Multisig controlled

Control map

IssuerGoverned CDP

ControlsMinter admin Safe3/5Minter admin Safe×64/6Minter admin Safe×42/4

SupplyMAIUnbounded, adverse authority

Scoring breakdown

Derived posture Unknown

Component score Loading

The current Safety Score publication is loading; reviewed mint authority evidence is shown below.

Primary controls (17)

QiDao admin Safe (Polygon MAI owner, 3/5)
Minter admin / Safe
polygon / 0x3feacf...fee4d8
MintDirectSetupSafe, 3/5 thresholdSafe modules/guardNo modules or guards detected
QiDao 3-of-5 Safe owns the Polygon MAI token and administers vault onboarding, debt ceilings, and risk parameters.
QiDao admin Safe (Ethereum MAI owner, 4/6)
Minter admin / Safe
ethereum / 0x3182e6...9ff436
MintDirectSetupSafe, 4/6 thresholdSafe modules/guardNo modules or guards detected
QiDao 4-of-6 Safe owns the Ethereum MAI token.
QiDao admin Safe (Arbitrum MAI owner, 2/4)
Minter admin / Safe
arbitrum / 0xf32e75...e0982b
MintDirectSetupSafe, 2/4 thresholdSafe modules/guardNo modules or guards detected
QiDao 2-of-4 Safe owns the Arbitrum MAI token.
QiDao admin Safe (Optimism MAI owner, 2/4)
Minter admin / Safe
optimism / 0xb1a8d1...a73d60
MintDirectSetupSafe, 2/4 thresholdSafe modules/guardModules or guards present
The Optimism MAI owner Safe can authorize or revoke native mint paths and change owner-gated issuance parameters; current vault inventory and new-issuance status are not independently established.
QiDao admin Safe (Base MAI owner, 4/6)
Minter admin / Safe
base / 0xe816f0...2c613d
MintDirectSetupSafe, 4/6 thresholdSafe modules/guardNo modules or guards detected
The Base MAI owner Safe can authorize or revoke native mint paths and change owner-gated issuance parameters. QiDao currently identifies Base as a fully live deployment.
QiDao admin Safe (Avalanche MAI owner, 2/4)
Minter admin / Safe
avalanche / 0x3cf6a3...bf9ca2
MintDirectSetupSafe, 2/4 thresholdSafe modules/guardModules or guards unknown
The Avalanche MAI owner Safe can authorize or revoke native mint paths and change owner-gated issuance parameters; current vault inventory and new-issuance status are not independently established.
QiDao admin Safe (Fantom MAI owner, 2/3)
Minter admin / Safe
fantom / 0x679016...a15a54
MintDirectSetupSafe, 2/3 thresholdSafe modules/guardModules or guards unknown
The Fantom MAI owner Safe is a native issuance authority, but current new-issuance status is unresolved and the deployment is affected by dead-oracle legacy markets.
QiDao admin Safe (Gnosis MAI owner, 4/6)
Minter admin / Safe
gnosis / 0x4f5af8...3a9e80
MintDirectSetupSafe, 4/6 thresholdSafe modules/guardModules or guards unknown
The Gnosis MAI owner Safe can authorize or revoke native mint paths and change owner-gated issuance parameters; current vault inventory and new-issuance status are not independently established.
QiDao admin Safe (Metis MAI owner, 4/6)
Minter admin / Safe
metis / 0xc9d375...d854d8
MintDirectSetupSafe, 4/6 thresholdSafe modules/guardModules or guards unknown
The Metis MAI owner Safe can authorize or revoke native mint paths and change owner-gated issuance parameters; current vault inventory and new-issuance status are not independently established.
QiDao admin Safe (Moonbeam MAI owner, 4/6)
Minter admin / Safe
moonbeam / 0x75c7b5...c0104d
MintDirectSetupSafe, 4/6 thresholdSafe modules/guardModules or guards unknown
The Moonbeam MAI owner Safe is a native issuance authority, but current new-issuance status is unresolved and the deployment has dead-oracle legacy markets.
QiDao admin Safe (Kava MAI owner, 4/6)
Minter admin / Safe
kava / 0xe43d58...5c3a83
MintDirectSetupSafe, 4/6 thresholdSafe modules/guardModules or guards unknown
The Kava MAI owner Safe can authorize or revoke native mint paths and change owner-gated issuance parameters; current vault inventory and new-issuance status are not independently established.
QiDao admin Safe (Polygon zkEVM MAI owner, 2/4)
Minter admin / Safe
polygon-zkevm / 0x20265d...289355
MintDirectSetupSafe, 2/4 thresholdSafe modules/guardModules or guards unknown
The Polygon zkEVM MAI owner Safe is a native issuance authority; the latest available provider observation is stale, so current vault inventory and new-issuance status are unresolved.

Showing 12 of 17 primary controls · 5 more in the full control census

Review notes & sources (26)

MAI is minted natively on 14 reviewed non-Fraxtal QiDao deployments by borrowing against overcollateralized vault positions under owner-set debt ceilings. Polygon and Base are currently identified by QiDao as fully live; the other nonzero-supply deployments remain legacy native issuance surfaces whose current ability to accept new issuance is not independently established. Per-chain MAI owner Safes can authorize or revoke native mint paths and change issuance parameters; the Polygon collateral vaults are owned by a separate 3-of-4 QiDao Safe that sets per-vault ceilings. Fraxtal is a reviewed native deployment but is sunset with ownership renounced and zero supply. No current tracked deployment is classified as a bridge representation.

Control posture

Material control is classified as requiring approval from a defined group of signers through a multisignature account.

CeFi-Dependent is the broader governance classification. Control posture describes more precisely where operational authority sits.

Control posture is not a Safety Score input. Economic Control is scored from the reviewed mint authority, oracle and bridge evidence.

Reviewed 2026-08-16

MAI Collateral pricing & liquidation

Opaque / unknown

24 branches price collateral from an undisclosed pricing method.

Oracle review: Probable

Max LTV98.04%

Min CR102%

Pricing path

SourcesDead Fantom price sources (Chainlink-retired and QiDao custom)Chainlink ETH/USD (Ethereum)QiDao cbETH composite (custom, internals getter-verified)+36 more

AggregatorOpaque / unknown39 feeds · 24 branches

ConsumerLiquidation engine

Debt by branch

Largest 5 of 24

Fantom legacy markets (15 debt-bearing, all oracles dead)Pricing tier: Opaque / unknown71.72% of debtMin CR 130–10000%
Ethereum legacy markets (WETH, cbETH, LDO)Pricing tier: Single-source / laggy14.57% of debtMin CR 120–130%
Metis legacy markets (METIS x2, WETH, WBTC)Pricing tier: Single-source / laggy3.91% of debtMin CR 130–155%
Base wstETH vaultPricing tier: Single-source / laggy2.16% of debtMin CR 125%
Polygon WBTC vault (current)Pricing tier: Single-source / laggy1.68% of debtMin CR 130%

+ 19 more branches under Feeds, parameters & failure behavior

Feeds, parameters & failure behavior

Feeds

Each vault's ethPriceSource reverts latestRoundData at the observed block: FTM 0xf4766552D15AE4d256Ad41B6cf2933482B0680dc, yvWFTM 0x530CD67a5898A20501cFcf74a3C68e21831d744c, yvDAI 0x3667ab1ebC668A3456a84A8371Db3f222eB4AF89, ETH 0x11DdD3d147E5b83D01cee7070027092397d63658, BTC 0x8e94C22142F4A64b99022ccDd994f4e9EC86E4B4, LINK 0x221C773d8647BC3034e91a0c47062e26D20d97B4, Moo Scream FTM 0xb01daa872E8eB0a203c5c890366dfa76113f7c76, Moo Scream WETH 0xef79b4c52Ec3b73838f6C3912fD9F81cC57E5eE9, Moo Scream BTC 0x53E71369490320123fa94c4813d8a711EF399457, Moo Scream LINK 0x266A781E42e91Bbb7b378E2971F71047C849f8dc, Moo Scream DAI 0x553e4595c8cc8e67bf396b0d31dBA48D204BCe9f, yvETH 0x425eA1422DBF9764D9f84e6d581c3e0187C5A340, yvBTC 0x654CF56E6e7d2bD2d81863e0F14840B741a16710, Moo BIFI 0xef00213d0409bd3bBB382D64bc43124faC9C5650, Moo Boo BTC-FTM 0x204B06f2Aa4a4d2C4D34A747E56919AE10B46905 · Dead Fantom price sources (Chainlink-retired and QiDao custom) · Fantom
WETH vault reads Chainlink ETH/USD proxy 0x5f4eC3Df9cbd43714FE2740f5E3616155c5b8419 directly; live at the observed block ($1,919.95). · Chainlink ETH/USD (Ethereum) · Ethereum
cbETH vault source 0xD795b83afDBCaDdc43F5bc1eF8E1970Bbda4E03a: underlying()=cbETH 0xBe9895146f7AF43049ca1c1AE358B0541Ea49704, token()=0xF017fcB346A1885194689bA23Eff2fE6fA5C483b (Coinbase exchange-rate oracle surface); live at $2,178.22. Exact USD leg not decoded from bytecode. · QiDao cbETH composite (custom, internals getter-verified) · Ethereum
LDO vault source 0xf84b454Fd48C777b21Dd09B33538cBBdbE88F52c: token()=0x4e844125952D32AcdF339BE976c98E22F6F318dB; live at $0.2939 (LDO). Composition not decoded from bytecode. · QiDao LDO composite (custom, internals not decoded) · Ethereum
Both METIS vaults read Chainlink METIS/USD proxy 0xD4a5Bb03B5D66d9bf81507379302Ac2C2DFDFa6D directly; live at the observed block ($2.52). · Chainlink METIS/USD (Metis) · Metis
WETH vault reads Chainlink ETH/USD proxy 0x3BBe70e2F96c87aEce7F67A2b0178052f62E37fE directly; live ($1,919.40). · Chainlink ETH/USD (Metis) · Metis
WBTC vault reads Chainlink BTC/USD proxy 0x51Ed8Fecf96813826F727CaBDF01b3cF6a61373e directly; live ($65,054.84). · Chainlink BTC/USD (Metis) · Metis
Vault source 0x19Cb63CCbfAC2f28B1fd79923f6aDfC096e6EBB4: priceSource()=Chainlink ETH/USD Base proxy 0x71041dddad3595F9CEd3DcCFBe3D1F4b0a16Bb70, underlying()=wstETH 0xc1CBa3fCea344f92D9239c08C0568f6F2F0ee452; live at $2,367.19. Rate composition getter-verified; exact arithmetic not decoded from bytecode. · QiDao wstETH composite over Chainlink ETH/USD (Base) · Base
Vault reads Chainlink ETH/USD Base proxy 0x71041dddad3595F9CEd3DcCFBe3D1F4b0a16Bb70 directly; live at the observed block ($1,920.09). · Chainlink ETH/USD (Base) · Base
Vault source 0x5e5CcE0ac9375937D264d0aaf680C5261f95e3ff: token()=0x806b4Ac04501c29769051e42783cF04dCE41440b (Coinbase exchange-rate oracle on Base), underlying()=cbETH 0x2Ae3F1Ec7F1F5012CFEab0185bfc7aa3cf0DEc22; live at $2,162.99 (consistent with ETH/USD x cbETH rate). Exact USD leg not decoded from bytecode. · QiDao cbETH composite (Base) · Base
Vault reads Chainlink BTC/USD Polygon proxy 0xc907E116054Ad103354f2D350FD2514433D57F6f directly; live at the observed block ($64,972.17). · Chainlink BTC/USD (Polygon) · Polygon
Vault reads Chainlink ETH/USD Polygon proxy 0xF9680D99D6C9589e2a93a78A04A279e509205945 directly; live at the observed block ($1,919.52). · Chainlink ETH/USD (Polygon) · Polygon
Each vault's ethPriceSource reverts latestRoundData at the observed block: cxETH 0x6cD4CeB4C5a6068dbC7BD1E3b1633a0666A68E46, cxADA 0xB8BDAe5bbBD01b9a876660D717B43fC2C02F5B56, cxDOGE 0x5c32c4e1c9E08AC713DD8EF10DEeC820830D9634, CEL 0xc9ECF45956f576681bDc01F79602A79bC2667B0c, FXS 0x6C0fe985D3cAcbCdE428b84fc9431792694d0f51, dQUICK 0x5F35E99494ac6215669bB9c4a7b217B6B9dDf59e (whose inner source 0xa058689f4bCa95208bba3F265674AE95dED75B6D also reverts). · Dead Polygon price sources (CelsiusX customs and retired Chainlink proxies) · Polygon
Vault source 0x853df00Ac364263F7f59744aAb4F4D7FCcfe90CA: priceSource()=Chainlink DAI/USD Polygon proxy 0x4746DeC9e833A82EC7C2C1356372CcF2cfcD2F3D (live, $0.9996), underlying()=Gains gDAI 0x91993f2101cc758D0dEB7279d41e880F7dEFe827; composite live at $1.1872. Rate composition getter-verified; exact arithmetic not decoded from bytecode. · QiDao gDAI composite over Chainlink DAI/USD (Polygon) · Polygon
Vault source 0xb057c5d7A95A581d6b9C192352F679541Bde69BF: priceSource()=Chainlink ETH/USD Polygon proxy 0xF9680D99D6C9589e2a93a78A04A279e509205945, underlying()=stETH (PoS) 0x03b54A6e9a984069379fae1a4fC4dBAE93B3bCCD; composite live at $2,353.69. Rate composition getter-verified; exact arithmetic not decoded from bytecode. · QiDao wstETH composite over Chainlink ETH/USD (Polygon) · Polygon
Vault source 0x271ad4279c319FEE4036416dD71F6D74E467076F: priceSource()=Chainlink 'Calculated MaticX / USD' feed 0x5d37E4b374E6907de8Fc7fb33EE3b0af403C7403 (live, $0.0905), underlying()=MaticX 0xfa68FB4628DFF1028CFEc22b4162FCcd0d45efb6; composite live at $0.0892. Rate composition getter-verified; exact arithmetic not decoded from bytecode. · QiDao MaticX composite over Chainlink Calculated MaticX/USD (Polygon) · Polygon
Vault source 0x1526f06F8938c9E622f57e960B89eBC3C587A9bD: priceSource()=0x97371dF4492605486e23Da797fA68e55Fc38a13f (legacy stMATIC source, owner 0x5A3ca642fdEd17296adDdb53A496ce4f26901596), underlying()=stMATIC 0x3A58a54C066FdC0f2D55FC9C89F0415C92eBf3C4. The inner source reverts latestRoundData at the observed block, so the composite and the vault's getEthPriceSource() revert as well. · Dead QiDao stMATIC composite (Polygon) · Polygon
WETH vault -> ETH/USD 0xF9680D99D6C9589e2a93a78A04A279e509205945; LINK vault -> LINK/USD 0xd9FFdb71EbE7496cC440152d43986Aae0AB76665; AAVE vault -> AAVE/USD 0x72484B12719E23115761D5DA1646945632979bB6; CRV vault -> CRV/USD 0x336584C8E6Dc19637A5b36206B1c79923111b405; WBTC vault -> WBTC/USD 0xDE31F8bFBD8c84b5360CFACCa3539B938dd78ae6; BAL vault -> BAL/USD 0xD106B538F2A868c28Ca1Ec7E298C3325E0251d66; SAND vault -> SAND/USD 0x3D49406EDd4D52Fb7FFd25485f32E073b529C924; WPOL vault -> MATIC/USD 0xAB594600376Ec9fD91F8e885dADF0CE036862dE0. All live at the observed block. · Chainlink (Polygon) — direct single feeds · Polygon
GHST vault source 0xd56E523d18a205f96CA8009f2c85aA47F3FA35ab; live at $0.0442. No standard aggregator getters; composition not decoded from bytecode. · QiDao GHST custom source (internals not decoded) · Polygon
Vault source 0x7791b9d71fa3A9782183B810f26b5C2eEdf53Eb0: priceSource()=Chainlink MATIC/USD Polygon proxy 0xAB594600376Ec9fD91F8e885dADF0CE036862dE0 (live, $0.0758), underlying()=amWMATIC 0x8dF3aad3a84da6b69A4DA8aeC3eA40d9091B2Ac4; composite live at $0.0796 (consistent with MATIC/USD x camWMATIC exchange rate). Rate composition getter-verified; exact arithmetic not decoded from bytecode. · QiDao camWMATIC composite over Chainlink MATIC/USD (Polygon) · Polygon
Vault source 0xe6e5535154dc430996bb5bC257634e89C7397Ec9 (8-decimal answer, live at $0.0112); no standard aggregator getters; composition not decoded from bytecode. The underlying LP pairs MAI with DAI, so the oracle implicitly depends on MAI's own price. · QiDao Arrakis LP custom oracle (internals not decoded) · Polygon
Vault source 0x56Ca9B7a4dB485606479DEf2b5eB70EcfaC62E2C (18-decimal answer, live at $1.23); no standard aggregator getters; composition not decoded from bytecode. · QiDao sdam3CRV custom oracle (internals not decoded) · Polygon
WETH vault reads Chainlink ETH/USD Optimism proxy 0x13e3Ee699D1909E989722E753853AE30b17e08c5 directly; live ($1,919.75). The Beefy Aave ETH composite 0x80762C8b0DBF57324DCBEB867d59c4Fc6fFDd960 and Yearn ETH composite 0xf9973B6Bf045755C09B36aA4A21F11E5c5f78cAf both report priceSource()=0x13e3Ee699D1909E989722E753853AE30b17e08c5 and answer live ($2,006.94 / $1,991.13 including their yield-token rates). · Chainlink ETH/USD (Optimism) · Optimism
Beefy Curve stETH vault source 0xFC8070e692C1c3C9705656809a76183cCfA709f7; live at $1,981.86. Composition not decoded from bytecode. · QiDao Beefy Curve stETH custom composite (internals not decoded) · Optimism
WBTC vault reads Chainlink BTC/USD Optimism proxy 0xD702DD976Fb76Fffc2D3963D037dfDae5b04E593 directly; live ($64,971.02). · Chainlink BTC/USD (Optimism) · Optimism
BTC vault reads Chainlink BTC/USD Avalanche proxy 0x2779D32d5166BAaa2B2b658333bA7e6Ec0C65743 directly; live ($65,026.44). · Chainlink BTC/USD (Avalanche) · Avalanche
Moo Aave AVAX vault source 0xdDC3D26BAA9D2d979F5E2e42515478bf18F354D5 reports priceSource()=Chainlink AVAX/USD Avalanche proxy 0x0A77230d17318075983913bC2145DB16C7366156 (live, $6.52); the plain AVAX vault reads 0x0A77230d17318075983913bC2145DB16C7366156 directly. · QiDao Moo Aave AVAX composite over Chainlink AVAX/USD; Chainlink AVAX/USD direct for the AVAX vault · Avalanche
ETH vault reads Chainlink ETH/USD Avalanche proxy 0x976B3D034E162d8bD72D6b9C989d545b839003b0 directly; live ($1,919.43). · Chainlink ETH/USD (Avalanche) · Avalanche
WETH vault reads Chainlink ETH/USD Gnosis proxy 0xa767f745331D267c7751297D982b050c93985627 directly; live ($1,921.92). · Chainlink ETH/USD (Gnosis) · Gnosis
GNO vault reads Chainlink GNO/USD Gnosis proxy 0x22441d81416430A54336aB28765abd31a792Ad37 directly; live ($106.60). · Chainlink GNO/USD (Gnosis) · Gnosis
WBTC vault reads Chainlink BTC/USD Linea proxy 0x7A99092816C8BD5ec8ba229e3a6E6Da1E628E1F9 directly; live ($64,972.14). · Chainlink BTC/USD (Linea) · Linea
WETH vault reads Chainlink ETH/USD Linea proxy 0x3c6Cd9Cc7c7a4c2Cf5a82734CD249D7D593354dA directly; live ($1,919.63). · Chainlink ETH/USD (Linea) · Linea
Vault source 0x4497B606be93e773bbA5eaCFCb2ac5E2214220Eb reverts latestRoundData at the observed block; no description() or other standard getters answer. · Dead Moonbeam price source · Moonbeam
WETH vault reads Chainlink ETH/USD Arbitrum proxy 0x639Fe6ab55C921f74e7fac1ee960C0B6293ba612 directly; live ($1,918.51). · Chainlink ETH/USD (Arbitrum) · Arbitrum
gDAI vault source 0x759D0e8623C5028ED4D447dB25Bbe789FD07A43D reports priceSource()=0xc5C8E77B397E531B8EC06BFb0048328B30E9eCfB (Chainlink DAI/USD Arbitrum proxy); composite live at $1.2373 including the gDAI share price. Rate composition getter-verified; exact arithmetic not decoded from bytecode. · QiDao gDAI composite over Chainlink DAI/USD (Arbitrum) · Arbitrum
WBTC vault reads Chainlink BTC/USD Arbitrum proxy 0x6ce185860a4963106506C203335A2910413708e9 directly; live ($64,972.55). · Chainlink BTC/USD (Arbitrum) · Arbitrum
CAKE vault reads Chainlink CAKE/USD BSC proxy 0xB6064eD41d4f67e353768aA239cA86f4F73665a1 directly; live ($1.43). · Chainlink CAKE/USD (BSC) · BSC
BNB vault reads Chainlink BNB/USD BSC proxy 0x0567F2323251f0Aab15c8dFb1967E4e8A7D42aeE directly; live ($603.10). · Chainlink BNB/USD (BSC) · BSC
DODO vault source 0x87701B15C08687341c2a847ca44eCfBc8d7873E1 reverts latestRoundData at the observed block; getEthPriceSource() reverts, so the market is frozen. · Dead DODO price source (BSC) · BSC

Optimism legacy markets (WETH, Beefy Aave ETH, Beefy Curve stETH, WBTC, Yearn ETH)Pricing tier: Single-source / laggy1.61% of debtMin CR 125–135%
Polygon dead-oracle legacy markets (cxETH, cxADA, cxDOGE, CEL, FXS, dQUICK)Pricing tier: Opaque / unknown1.2% of debtMin CR 10000–50000%
Polygon WETH vault (current)Pricing tier: Single-source / laggy1.05% of debtMin CR 130%
Avalanche legacy markets (BTC, Moo Aave AVAX, AVAX, ETH)Pricing tier: Single-source / laggy1% of debtMin CR 130–135%
Polygon Gains gDAI vaultPricing tier: Single-source / laggy0.36% of debtMin CR 112%
Polygon wstETH vaultPricing tier: Single-source / laggy0.18% of debtMin CR 130%
Base WETH vaultPricing tier: Single-source / laggy0.12% of debtMin CR 120%
Base cbETH vaultPricing tier: Single-source / laggy0.09% of debtMin CR 125%
Polygon MaticX vaultPricing tier: Single-source / laggy0.07% of debtMin CR 135%
Moonbeam GLMR vault (oracle dead)Pricing tier: Opaque / unknown0.07% of debtMin CR 150%
Gnosis legacy markets (WETH, GNO)Pricing tier: Single-source / laggy0.06% of debtMin CR 130%
Linea legacy markets (WBTC, WETH)Pricing tier: Single-source / laggy0.05% of debtMin CR 130%
Polygon stMATIC vault (current, oracle dead)Pricing tier: Opaque / unknown0.03% of debtMin CR 135%
Arbitrum legacy markets (WETH, gDAI, WBTC)Pricing tier: Single-source / laggy0.03% of debtMin CR 112–130%
BSC legacy markets (CAKE, BNB, DODO)Pricing tier: Single-source / laggy0.02% of debtMin CR 130–150%
Polygon legacy wind-down markets (WETH, LINK, AAVE, CRV, WBTC, BAL, GHST, SAND, WPOL)Pricing tier: Single-source / laggy0.01% of debtMin CR 591–10000%
Polygon Arrakis MAI/DAI LP vaultPricing tier: Single-source / laggy0.01% of debtMin CR 102%
Polygon camWMATIC vault (legacy, wind-down)Pricing tier: Single-source / laggy0% of debtMin CR 10000%
Polygon Stake DAO am3CRV vault (wind-down)Pricing tier: Single-source / laggy0% of debtMin CR 10000%

Fantom legacy markets (15 debt-bearing, all oracles dead)

WFTM (vault 0x1066b8FC999c1eE94241344818486D5f944331A0) · MCR 130% · debtRatio=10 (liquidator repays 10%), gainRatio=1100 (10% bonus); 79 vaults with debt totaling 62.93 MAI.

yvWFTM (vault 0x7efB260662a6FA95c1CE1092c53Ca23733202798) · MCR 135% · debtRatio=10, gainRatio=1100; 84 vaults with debt totaling 117.17 MAI.

yvDAI (vault 0x682E473FcA490B0adFA7EfE94083C1E63f28F034) · MCR 10000% · Wind-down parameters: debtRatio=1 (full repayment), gainRatio=1050 (5% bonus); 90 vaults with debt totaling 240,944.14 MAI.

ETH (vault 0xD939c268C49c442F037E968F045ba02f499562D4) · MCR 10000% · Wind-down: debtRatio=1, gainRatio=1500 (50% bonus); 7 vaults with debt totaling 4,391.29 MAI.

BTC (vault 0xE5996a2cB60eA57F03bf332b5ADC517035d8d094) · MCR 10000% · Wind-down: debtRatio=1, gainRatio=1500; 30 vaults with debt totaling 1,001,100.56 MAI, the single largest debt-bearing QiDao market observed anywhere.

LINK (vault 0xd6488d586E8Fcd53220e4804D767F19F5C846086) · MCR 10000% · Wind-down: debtRatio=1, gainRatio=1500; 18 vaults with debt totaling 9.43 MAI.

Moo Scream FTM (vault 0x3609A304c6A41d87E895b9c1fd18c02ba989Ba90) · MCR 135% · debtRatio=10, gainRatio=1100; 41 vaults with debt totaling 111.39 MAI.

Moo Scream WETH (vault 0xC1c7eF18ABC94013F6c58C6CdF9e829A48075b4e) · MCR 10000% · Wind-down: debtRatio=1, gainRatio=1500; 6 vaults with debt totaling 21,812.25 MAI.

Moo Scream BTC (vault 0x5563Cc1ee23c4b17C861418cFF16641D46E12436) · MCR 10000% · Wind-down: debtRatio=1, gainRatio=1500; 50 vaults with debt totaling 69,528.16 MAI.

Moo Scream LINK (vault 0x8e5e4D08485673770Ab372c05f95081BE0636Fa2) · MCR 10000% · Wind-down: debtRatio=1, gainRatio=1500; 5 vaults with debt totaling 8.31 MAI.

Moo Scream DAI (vault 0xBf0ff8ac03f3E0DD7d8faA9b571ebA999a854146) · MCR 10000% · Wind-down: debtRatio=1, gainRatio=1200 (20% bonus); 41 vaults with debt totaling 29,531.94 MAI.

yvETH (vault 0x7aE52477783c4E3e5c1476Bbb29A8D029c920676) · MCR 10000% · Wind-down: debtRatio=1, gainRatio=1500; 1 vault with debt totaling 1,323.00 MAI.

yvBTC (vault 0x571F42886C31f9b769ad243e81D06D0D144BE7B4) · MCR 10000% · Wind-down: debtRatio=1, gainRatio=1500; 19 vaults with debt totaling 136,734.08 MAI.

Moo BIFI (vault 0x75D4aB6843593C111Eeb02Ff07055009C836A1EF) · MCR 700% · Raw _minimumCollateralPercentage=700; debtRatio=1, gainRatio=1500; 15 vaults with debt totaling 1.20 MAI.

Moo Boo BTC-FTM LP (vault 0xF34e271312e41Bbd7c451B76Af2AF8339D6f16ED) · MCR 10000% · Wind-down: debtRatio=67 (liquidator repays ~1.5%), gainRatio=1500; 4 vaults with debt totaling 19.75 MAI.

Designed mechanism (currently inoperative): permissionless partial liquidation via liquidateVault(), any MAI holder repays 1/debtRatio of a below-minimum vault's debt and extracts collateral worth the repayment times gainRatio/10 at the oracle price. In practice no liquidation can execute on Fantom because the oracle call itself reverts. Re-proved by direct eth_call at Fantom block 122814200 (2026-08-09) against the BTC vault 0xE5996a2c, corroborated byte-identically on a second endpoint (rpc.fantom.network): stabilityPool() is the zero address and liquidateVault(uint256) is present in the deployed bytecode, so liquidation is permissionless and dispatchable, and vault 34 is a live position (ownerOf 0xd53064c88994119c281cc9e66c01a669e4a7715d, 0.00055772 BTC collateral, 6.652475 MAI debt), yet checkCollateralPercentage(34), checkLiquidation(34), and liquidateVault(34) all revert with empty return data, while ownerOf(999999) on the same contract still returns its ERC721 revert string, placing the failure inside the price read rather than in any require. liquidationDelaySec is deliberately left unrecorded on this branch: erc20Stablecoin.liquidateVault contains no delay, grace-period, auction, or timestamp term at all (source re-read 2026-08-09), so the branch has no positive delay to report, but liquidation here is uncallable at every block. That creates an unbounded wait the schema's non-negative-integer field cannot express. Recording 0 would render as 'liquidation delay: none' on a branch where liquidation cannot execute. · liquidation delay uncallable (reviewed)

No protocol backstop: stabilityPool is the zero address on the observed deployments and there is no stability pool, insurance fund, or committed bad-debt buyer. QiDao historically settled Multichain-era bad debt ad hoc from the DAO treasury on Polygon ($668k, per DL News); the Fantom residue (~1.51M MAI) remains unsettled with the chain's tokens in dispute.

None, and the failure is live: every ethPriceSource reverts, so getEthPriceSource() reverts and every price-dependent path (liquidation, withdrawal, new borrows) is bricked on all 19 probed Fantom vaults. The vault contract has no staleness fallback or alternate feed even when sources are alive; the only remedy is the owner-gated changeEthPriceSource, which has not been exercised on Fantom.

The vault contract defines no global shutdown, settlement, or debt-socialization path. On Fantom the entire deployment is de facto frozen: dead oracles brick liquidation, withdrawal, and borrowing, and the recorded bad debt (Multichain-era, collateral devalued) remains on the books indefinitely. QiDao's site says Fantom tokens 'return to holders once its dispute is resolved', an off-chain process, not a contract mechanism.

Ethereum legacy markets (WETH, cbETH, LDO)

WETH (vault 0x98eb27E5F24FB83b7D129D789665b08C258b4cCF) · MCR 120% · debtRatio=2 (liquidator repays 50%), gainRatio=1100 (10% bonus), closingFee=0; 1 vault with debt totaling 266,513.35 MAI against 64.5 WETH collateral, underwater and structurally un-liquidatable (payout underflow).

cbETH (vault 0x4ce4C542D96Ce1872fEA4fa3fbB2E7aE31862Bad) · MCR 125% · debtRatio=2, gainRatio=1100, closingFee=0; 1 vault with debt totaling 12,390.82 MAI against 3.47 cbETH.

LDO (vault 0x954ac12c339c60eafbb32213b15af3f7c7a0dec2) · MCR 130% · debtRatio=2, gainRatio=1100, closingFee=0; 1 vault with debt totaling 27,009.29 MAI against 14,710.79 LDO (~$4.3k), underwater.

Permissionless partial liquidation via liquidateVault(): when a vault's oracle-priced collateral ratio falls below _minimumCollateralPercentage, any MAI holder repays 1/debtRatio (50%) of the debt and extracts collateral worth the repayment times gainRatio/10 (110% = 10% bonus) at the oracle price; no auction, no grace period. Deeply underwater vaults cannot be liquidated: the collateral extraction underflows SafeMath and reverts, so the recorded bad debt persists. · liquidation delay None

No protocol backstop: stabilityPool is the zero address at the observed block, so liquidations rely entirely on external MAI holders; there is no stability pool, insurance fund, or committed bad-debt buyer. Past bad debt was settled ad hoc from the DAO treasury (2023 Polygon settlement), not by a standing mechanism.

No fallback. The vault contract reads only the answer field of ethPriceSource.latestRoundData() through the PriceSource interface; updatedAt is never checked, there is no stale-answer rejection, and no alternate feed exists. The only remedy is the owner-gated changeEthPriceSource.

No global shutdown, settlement, or debt-socialization path exists in the vault contract. Underwater debt (observed: 266.5k MAI in the WETH market, 27.0k MAI in the LDO market) remains on the books indefinitely; owners can only force liquidatability of healthy positions by raising _minimumCollateralPercentage (the wind-down pattern used on Polygon/Fantom), which does nothing for positions whose collateral is already insufficient.

Metis legacy markets (METIS x2, WETH, WBTC)

METIS (vault 0x10dcbee8afa39a847707e16aea5eb34c6b01aba9) · MCR 155% · debtRatio=2, gainRatio=1100 (10% bonus), closingFee=50 (0.5%); 18 vaults with debt totaling 75,388.98 MAI against 2,386 METIS (~$6k), underwater and un-liquidatable (payout underflow).

METIS (vault 0x19Cb63CCbfAC2f28B1fd79923f6aDfC096e6EBB4) · MCR 130% · debtRatio=2, gainRatio=1100, closingFee=0; 3 vaults with debt totaling 6,015.48 MAI against 113 METIS, underwater.

WETH (vault 0xc09c73f7b32573d178138e76c0e286ba21085c20) · MCR 130% · debtRatio=2, gainRatio=1100, closingFee=50; 6 vaults with debt totaling 688.39 MAI.

WBTC (vault 0x5A03716bd1f338D7849f5c9581AD5015ce0020B0) · MCR 130% · debtRatio=2, gainRatio=1100, closingFee=50; 2 vaults with debt totaling 84.00 MAI.

Permissionless partial liquidation via liquidateVault(): any MAI holder repays 1/debtRatio (50%) of a below-minimum vault's debt and extracts collateral worth the repayment times gainRatio/10 (110% = 10% bonus) at the oracle price; no auction, no grace period. Underwater vaults cannot be liquidated (SafeMath payout underflow), which is the observed state of both METIS markets. · liquidation delay None

No protocol backstop: stabilityPool is the zero address at the observed block; no stability pool, insurance fund, or committed bad-debt buyer exists. Liquidations rely entirely on external MAI holders.

No fallback. The vault contract reads only the answer field of ethPriceSource.latestRoundData(); updatedAt is never checked, there is no stale-answer rejection, and no alternate feed exists. The only remedy is the owner-gated changeEthPriceSource.

No global shutdown, settlement, or debt-socialization path exists in the vault contract. The underwater METIS debt (81.4k MAI combined) remains on the books indefinitely; the owner Safe can raise _minimumCollateralPercentage to wind down healthy positions but cannot clear bad debt.

Base wstETH vault

wstETH (vault 0x654a31ba7d714cfcab19b17d0066171c1a292349) · max LTV 80% · MCR 125% · debtRatio=2 (liquidator repays 50%), gainRatio=1100 (10% bonus), closingFee=0, openingFee=0; 5 vaults with debt totaling 45,312.12 MAI; 42.70 wstETH collateral; remaining mint capacity 606,854.72 MAI (getDebtCeiling = vault's own MAI balance).

Permissionless partial liquidation via liquidateVault(): any MAI holder repays 1/debtRatio (50%) of a below-minimum vault's debt and extracts collateral worth the repayment times gainRatio/10 (110% = 10% bonus) at the oracle price; the closingFee collateral share accrues to the treasury vault. No auction, no grace period. · liquidation delay None

No fallback. The vault reads only the answer field of the composite source's latestRoundData(); updatedAt is never checked, there is no stale-answer rejection, and no alternate feed exists. The only remedy is the owner-gated changeEthPriceSource.

No global shutdown, settlement, or debt-socialization path exists in the vault contract. The owner Safe (0xE816F03e31a75cAbE64861064a6219ebe62c613D, the reviewed 4-of-6 Base token-owner Safe) can wind the market down by raising _minimumCollateralPercentage; if the oracle reverts, liquidation, withdrawal, and borrowing all brick; unrepayable underwater debt would remain on the books indefinitely.

Base WETH vault

WETH (vault 0x8d6cebd76f18e1558d4db88138e2defb3909fad6) · max LTV 83.33% · MCR 120% · debtRatio=2 (50% repayment), gainRatio=1100 (10% bonus), closingFee=0, openingFee=0; 39 vaults with debt totaling 2,424.77 MAI; 164.14 WETH collateral; remaining mint capacity 555,134.64 MAI.

No fallback. The vault reads only the answer field of latestRoundData(); updatedAt is never checked, there is no stale-answer rejection, and no alternate feed exists. The only remedy is the owner-gated changeEthPriceSource.

No global shutdown, settlement, or debt-socialization path exists in the vault contract. The owner Safe can wind the market down by raising _minimumCollateralPercentage; a reverting oracle bricks liquidation, withdrawal, and borrowing; underwater debt would remain on the books indefinitely.

Base cbETH vault

cbETH (vault 0x7333fd58d8d73a8e5fc1a16c8037ada4f580fa2b) · max LTV 80% · MCR 125% · debtRatio=2 (50% repayment), gainRatio=1100 (10% bonus), closingFee=0, openingFee=0; 5 vaults with debt totaling 1,815.46 MAI; 11.36 cbETH collateral; remaining mint capacity 1,038,832.68 MAI.

Polygon WBTC vault (current)

WBTC (vault 0x169d47043cc0c94c39fa327941c56cb0344dc508) · max LTV 76.92% · MCR 130% · debtRatio=2 (50% repayment), gainRatio=1100 (10% bonus), closingFee=0, openingFee=0; 10 vaults with debt totaling 35,315.69 MAI; 1.664 WBTC collateral; remaining mint capacity 884,704.61 MAI.

No global shutdown, settlement, or debt-socialization path exists in the vault contract. The owner Safe (0x1d8a6b7941ef1349c1b5e378783cd56b001ecfbc, the reviewed 3-of-4 Polygon vault-admin Safe) can wind the market down by raising _minimumCollateralPercentage; a reverting oracle bricks liquidation, withdrawal, and borrowing; underwater debt would remain on the books indefinitely.

Polygon WETH vault (current)

WETH (vault 0xb5b31e6a13ae856bc30b3c76b16edad9f432b54f) · max LTV 76.92% · MCR 130% · debtRatio=2 (50% repayment), gainRatio=1100 (10% bonus), closingFee=0, openingFee=0; 6 vaults with debt totaling 22,106.00 MAI; 19.48 WETH collateral; remaining mint capacity 477,924.73 MAI.

Polygon dead-oracle legacy markets (cxETH, cxADA, cxDOGE, CEL, FXS, dQUICK)

cxETH (vault 0x7d36999a69f2B99BF3FB98866cBbE47aF43696C8) · MCR 10000% · Wind-down: debtRatio=1 (full repayment), gainRatio=1010 (1% bonus), closingFee=50; 21 vaults with debt totaling 10,073.79 MAI; 14.96 cxETH collateral (CelsiusX wrapper, devalued).

cxADA (vault 0x506533B9C16eE2472A6BF37cc320aE45a0a24F11) · MCR 10000% · Wind-down: debtRatio=1, gainRatio=1010; 17 vaults with debt totaling 12,434.00 MAI; 46,704 cxADA collateral (devalued).

cxDOGE (vault 0x7CbF49E4214C7200AF986bc4aACF7bc79dd9C19a) · MCR 10000% · Wind-down: debtRatio=1, gainRatio=1010; 22 vaults with debt totaling 2,594.53 MAI; 100,281 cxDOGE collateral (devalued).

CEL (vault 0x178f1c95c85fe7221c7a6a3d6f12b7da3253eeae) · MCR 10000% · Wind-down: debtRatio=1, gainRatio=1010; 4 vaults with debt totaling 2.79 MAI.

FXS (vault 0xff2c44fb819757225a176e825255a01b3b8bb051) · MCR 10000% · Wind-down: debtRatio=1, gainRatio=1010; 10 vaults with debt totaling 8.81 MAI; 47.48 FXS collateral.

dQUICK (vault 0x649Aa6E6b6194250C077DF4fB37c23EE6c098513) · MCR 50000% · Wind-down: raw _minimumCollateralPercentage=50000; debtRatio=1, gainRatio=1010; 18 vaults with debt totaling 2.40 MAI; 56.70 dQUICK collateral.

Designed mechanism (currently inoperative): permissionless partial liquidation via liquidateVault() with debtRatio=1 (full-debt repayment) and a 1% gainRatio bonus under wind-down parameters. In practice no liquidation can execute because the oracle call reverts. Re-proved by direct eth_call at Polygon block 91727016 (2026-08-09): getEthPriceSource() reverts with empty return data on all six vaults (cxETH 0x7d36999a, cxADA 0x506533B9, cxDOGE 0x7CbF49E4, CEL 0x178f1c95, FXS 0xff2c44fb, dQUICK 0x649Aa6E6), stabilityPool() on cxETH is the zero address, and on the live cxETH position 36 (34.752181 MAI debt) checkCollateralPercentage(36), checkLiquidation(36), and liquidateVault(36) all revert empty. The control is decisive: on the live Polygon WETH market 0xb5b31e6a at the same block, the identical liquidateVault call reverts with the reason string 'Vault is not below minimum collateral percentage', proving the endpoint returns revert strings and that the collateral-ratio require is the only gate on a working market. liquidationDelaySec is deliberately left unrecorded on this branch: the QiDao vault contract has no delay, grace-period, auction, or timestamp term anywhere in liquidateVault, but these markets are uncallable at every block. That creates an unbounded wait the schema's non-negative-integer field cannot express, and recording 0 would render as 'liquidation delay: none'. · liquidation delay uncallable (reviewed)

No protocol backstop: stabilityPool is the zero address at the observed block; no stability pool, insurance fund, or committed bad-debt buyer exists. The 2023 Polygon bad-debt settlement ($668k from the DAO treasury, per DL News) was an ad hoc governance action and did not cover these markets.

None, and the failure is live: every listed ethPriceSource reverts, so getEthPriceSource() reverts and liquidation, withdrawal, and new borrows are all bricked on these six markets. The vault contract has no staleness fallback or alternate feed even when sources are alive; the only remedy is the owner-gated changeEthPriceSource, which has not been exercised here.

No global shutdown, settlement, or debt-socialization path exists in the vault contract. These markets are de facto frozen: dead oracles brick liquidation, withdrawal, and borrowing, so the 25.1k MAI of mostly Celsius-collateralized bad debt remains on the books indefinitely.

Polygon Gains gDAI vault

gDAI (vault 0xF1104493eC315aF2cb52f0c19605443334928D38) · max LTV 89.29% · MCR 112% · debtRatio=10 (liquidator repays 10%), gainRatio=1050 (5% bonus), closingFee=0, openingFee=0; 11 vaults with debt totaling 7,566.87 MAI; 7,707.59 gDAI collateral; remaining mint capacity 167,448.28 MAI.

Permissionless partial liquidation via liquidateVault(): any MAI holder repays 1/debtRatio (10%) of a below-minimum vault's debt and extracts collateral worth the repayment times gainRatio/10 (105% = 5% bonus) at the oracle price; no auction, no grace period. · liquidation delay None

Polygon wstETH vault

wstETH (vault 0x3bcbAC61456c9C9582132D1493A00E318EA9C122) · max LTV 76.92% · MCR 130% · debtRatio=2 (50% repayment), gainRatio=1100 (10% bonus), closingFee=0, openingFee=0; 9 vaults with debt totaling 3,808.59 MAI; 3.63 wstETH collateral; remaining mint capacity 246,193.77 MAI.

Polygon MaticX vault

MaticX (vault 0xb1f28350539b06d5a35d016908eef0424bd13c4b) · max LTV 74.07% · MCR 135% · debtRatio=2 (50% repayment), gainRatio=1100 (10% bonus), closingFee=0, openingFee=0; 2 vaults with debt totaling 1,424.56 MAI; 26.24 MaticX collateral; remaining mint capacity 148,576.72 MAI.

Polygon stMATIC vault (current, oracle dead)

stMATIC (vault 0x9A05b116b56304F5f4B3F1D5DA4641bFfFfae6Ab) · MCR 135% · debtRatio=2 (50% repayment), gainRatio=1100 (10% bonus), closingFee=0, openingFee=0; 28 vaults with debt totaling 719.60 MAI; 26,700.64 stMATIC collateral; remaining mint capacity 9,633.59 MAI.

Designed mechanism (currently inoperative): permissionless partial liquidation via liquidateVault(vaultID, front) with 50% repayment and a 10% bonus, this newer vault build exposes liquidateVault(uint256,uint256), not the legacy liquidateVault(uint256). In practice no liquidation can execute because the oracle call reverts. Re-proved by direct eth_call at Polygon block 91727016-91727114 (2026-08-09): stabilityPool() is the zero address, debtRatio()=2 and gainRatio()=1100 are unchanged, getEthPriceSource() reverts with empty return data, and on the live position 5 (448.290758 MAI debt) checkCollateralPercentage(5), checkLiquidation(5), and liquidateVault(5,0) all revert empty, whereas the same liquidateVault(id,0) call on the live Polygon WETH market 0xb5b31e6a returns the reason string 'Vault is not below minimum collateral percentage', so the empty reverts here originate in the price read, not in a require. liquidationDelaySec is deliberately left unrecorded on this branch: the vault contract has no delay, grace-period, auction, or timestamp term, but this market is uncallable at every block. That creates an unbounded wait the schema's non-negative-integer field cannot express, and recording 0 would render as 'liquidation delay: none'. · liquidation delay uncallable (reviewed)

No protocol backstop: stabilityPool is the zero address at the observed block; no stability pool, insurance fund, or committed bad-debt buyer exists.

None, and the failure is live: the composite's inner source reverts, so getEthPriceSource() reverts and liquidation, withdrawal, and new borrows are all bricked. The vault contract has no alternate feed; the only remedy is the owner-gated changeEthPriceSource.

No global shutdown, settlement, or debt-socialization path exists in the vault contract. With the oracle dead, the 719.60 MAI of debt and the deposited stMATIC are frozen in place until the owner Safe repoints changeEthPriceSource.

Polygon legacy wind-down markets (WETH, LINK, AAVE, CRV, WBTC, BAL, GHST, SAND, WPOL)

WETH (vault 0x3fd939B017b31eaADF9ae50C7fF7Fa5c0661d47C) · MCR 591% · Wind-down: raw _minimumCollateralPercentage=591; debtRatio=1 (full repayment), gainRatio=1010 (1% bonus), closingFee=50 (0.5%); 1,578 vaults with debt totaling 186.31 MAI; 20.01 WETH collateral (mostly debt-free user collateral not yet withdrawn).

LINK (vault 0x61167073E31b1DAd85a3E531211c7B8F1E5cAE72) · MCR 10000% · Wind-down; debtRatio=1, gainRatio=1010, closingFee=50; 47 vaults with debt totaling 0.70 MAI; 357.95 LINK collateral.

AAVE (vault 0x87ee36f780ae843A78D5735867bc1c13792b7b11) · MCR 10000% · Wind-down; debtRatio=1, gainRatio=1010, closingFee=50; 17 vaults with debt totaling 5.75 MAI; 21.44 AAVE collateral.

CRV (vault 0x98B5F32dd9670191568b661a3e847Ed764943875) · MCR 10000% · Wind-down; debtRatio=1, gainRatio=1010, closingFee=50; 92 vaults with debt totaling 20.46 MAI; 1,265.57 CRV collateral.

WBTC (vault 0x37131aEDd3da288467B6EBe9A77C523A700E6Ca1) · MCR 10000% · Wind-down; debtRatio=1, gainRatio=1010, closingFee=5; 55 vaults with debt totaling 6.06 MAI; 1.803 WBTC collateral.

BAL (vault 0x701A1824e5574B0b6b1c8dA808B184a7AB7A2867) · MCR 10000% · Wind-down; debtRatio=1, gainRatio=1010, closingFee=1; 48 vaults with debt totaling 20.19 MAI; 153.14 BAL collateral.

GHST (vault 0xF086dEdf6a89e7B16145b03a6CB0C0a9979F1433) · MCR 10000% · Wind-down; debtRatio=1, gainRatio=1010, closingFee=50; 46 vaults with debt totaling 16.18 MAI; 1,457.46 GHST collateral.

SAND (vault 0x1dcc1f864a4bd0b8f4ad33594b758b68e9fa872c) · MCR 10000% · Wind-down; debtRatio=1, gainRatio=1010, closingFee=50; 4 vaults with debt totaling 0.44 MAI; 517.42 SAND collateral.

WPOL (vault 0x305f113ff78255d4f8524c8f50c7300b91b10f6a) · MCR 10000% · Wind-down; debtRatio=1, gainRatio=1010, closingFee=50; 14 vaults with debt totaling 1.82 MAI; 63,217.67 WPOL collateral.

Permissionless liquidation via liquidateVault() under wind-down parameters: debtRatio=1 means the liquidator repays 100% of a below-minimum vault's debt and extracts collateral worth the repayment times gainRatio/10 (101% = 1% bonus) at the oracle price; the closingFee collateral share accrues to the treasury vault. With _minimumCollateralPercentage at 591%-50000%, every open position is liquidatable. No auction, no grace period. · liquidation delay None

No protocol backstop: stabilityPool is the zero address on all nine vaults at the observed block; no stability pool, insurance fund, or committed bad-debt buyer exists. Liquidations rely entirely on external MAI holders.

No fallback. Each vault reads only the answer field of its single source's latestRoundData(); updatedAt is never checked, there is no stale-answer rejection, and no alternate feed exists. The only remedy is the owner-gated changeEthPriceSource.

No global shutdown, settlement, or debt-socialization path exists in the vault contract. These markets ARE the wind-down: owner Safes raised _minimumCollateralPercentage to force full liquidatability, and remaining debt is dust that is uneconomic for external liquidators to clear (1% bonus on sub-$25 positions). If a feed reverts, the market freezes in place (observed pattern in the dead-oracle branches).

Polygon camWMATIC vault (legacy, wind-down)

camWMATIC (vault 0x88d84a85A87ED12B8f098e8953B322fF789fCD1a) · MCR 10000% · Wind-down; debtRatio=1 (full repayment), gainRatio=1010 (1% bonus), closingFee=50 (0.5%); 159 vaults with debt totaling 71.86 MAI; 63,860.71 camWMATIC collateral; remaining mint capacity 71,929.16 MAI (matches mintAuthority evidence).

Permissionless liquidation via liquidateVault() under wind-down parameters: debtRatio=1 means the liquidator repays 100% of a below-minimum vault's debt and extracts collateral worth the repayment times gainRatio/10 (101% = 1% bonus) at the oracle price. With _minimumCollateralPercentage at 10000%, every open position is liquidatable. No auction, no grace period. · liquidation delay None

No global shutdown, settlement, or debt-socialization path exists in the vault contract. The market is under owner-imposed wind-down parameters; residual dust debt persists because clearing it is uneconomic at a 1% bonus. If the composite or its inner Chainlink feed reverts, the market freezes in place.

Polygon Arrakis MAI/DAI LP vault

Arrakis MAI/DAI LP (vault 0x7d75F83f0aBe2Ece0b9Daf41CCeDdF38Cb66146b) · max LTV 98.04% · MCR 102% · debtRatio=2 (50% repayment), gainRatio=1100 (10% bonus), closingFee=10 (0.1%); 2 vaults with debt totaling 101.00 MAI; 15.23 RAKIS-37 LP collateral; remaining mint capacity 801.00 MAI.

No fallback. The vault reads only the answer field of the custom source's latestRoundData(); updatedAt is never checked, there is no stale-answer rejection, and no alternate feed exists. The only remedy is the owner-gated changeEthPriceSource.

Polygon Stake DAO am3CRV vault (wind-down)

sdam3CRV (vault 0x57cbf36788113237d64e46f25a88855c3dff1691) · MCR 10000% · Wind-down; debtRatio=1 (full repayment), gainRatio=1010 (1% bonus), closingFee=50; 9 vaults with debt totaling 8.27 MAI; 938.93 sdam3CRV collateral; remaining mint capacity 391.73 MAI.

Permissionless liquidation via liquidateVault() under wind-down parameters: debtRatio=1 means the liquidator repays 100% of a below-minimum vault's debt and extracts collateral worth the repayment times gainRatio/10 (101% = 1% bonus) at the oracle price. With _minimumCollateralPercentage at 10000%, every open position is liquidatable. No auction, no grace period. · liquidation delay None

No global shutdown, settlement, or debt-socialization path exists in the vault contract. The market is under owner-imposed wind-down parameters; residual dust debt persists because clearing it is uneconomic. If the custom oracle reverts, the market freezes in place.

Optimism legacy markets (WETH, Beefy Aave ETH, Beefy Curve stETH, WBTC, Yearn ETH)

WETH (vault 0x062016cd29fabb26c52bab646878987fc9b0bc55) · MCR 130% · debtRatio=2 (50% repayment), gainRatio=1100 (10% bonus), closingFee=50; 301 vaults with debt totaling 19,078.63 MAI; 31.72 WETH collateral.

Beefy Aave OP ETH (vault 0xF9CE2522027bD40D3b1aEe4abe969831FE3BeAf5) · MCR 135% · debtRatio=2, gainRatio=1100, closingFee=0; 1 vault with debt totaling 12,903.36 MAI; 24.23 mooAaveETH collateral.

Beefy Curve stETH (vault 0xa478E708A27853848C6Bc979668fe6225FEe46Fa) · MCR 130% · debtRatio=2, gainRatio=1100, closingFee=0; 1 vault with debt totaling 1,144.64 MAI; 0.97 mooCurveSTETH collateral.

WBTC (vault 0xb9c8f0d3254007ee4b98970b94544e473cd610ec) · MCR 130% · debtRatio=2, gainRatio=1100, closingFee=50; 7 vaults with debt totaling 311.12 MAI; 0.358 WBTC collateral.

Yearn ETH (vault 0x7198ff382b5798dab7dc72a23c1fec9dc091893b) · MCR 125% · debtRatio=2, gainRatio=1100, closingFee=0; 7 vaults with debt totaling 291.37 MAI; 0.62 yvWETH collateral.

No global shutdown, settlement, or debt-socialization path exists in the vault contract. The owner Safe can wind markets down by raising _minimumCollateralPercentage; a reverting oracle bricks liquidation, withdrawal, and borrowing; underwater debt would remain on the books indefinitely.

Avalanche legacy markets (BTC, Moo Aave AVAX, AVAX, ETH)

BTC.b/WBTC (vault 0x1f8f7a1d38e41eaf0ed916def29bdd13f2a3f11a) · MCR 130% · debtRatio=2 (50% repayment), gainRatio=1100 (10% bonus), closingFee=50; 2 vaults with debt totaling 20,264.24 MAI; 1.902 BTC collateral.

Moo Aave AVAX (vault 0xfA19c1d104F4AEfb8d5564f02B3AdCa1b515da58) · MCR 135% · debtRatio=2, gainRatio=1100, closingFee=50; 139 vaults with debt totaling 738.92 MAI; 309.38 mooAaveAVAX collateral.

AVAX (vault 0x73a755378788a4542a780002a75a7bae7f558730) · MCR 130% · debtRatio=2, gainRatio=1100, closingFee=50; 6 vaults with debt totaling 4.02 MAI.

WETH.e (vault 0xa9122dacf3fccf1aae6b8ddd1f75b6267e5cbbb8) · MCR 130% · debtRatio=2, gainRatio=1100, closingFee=50; 2 vaults with debt totaling 3.51 MAI.

Gnosis legacy markets (WETH, GNO)

WETH (vault 0x5c49b268c9841AFF1Cc3B0a418ff5c3442eE3F3b) · MCR 130% · debtRatio=10 (liquidator repays 10%), gainRatio=1100 (10% bonus), closingFee=50; 9 vaults with debt totaling 818.24 MAI; 0.48 WETH collateral, underwater at the observed price.

GNO (vault 0x014a177e9642d1b4e970418f894985dc1b85657f) · MCR 130% · debtRatio=10, gainRatio=1100, closingFee=50; 22 vaults with debt totaling 462.57 MAI; 7.10 GNO collateral.

Permissionless partial liquidation via liquidateVault(): any MAI holder repays 1/debtRatio (10%) of a below-minimum vault's debt and extracts collateral worth the repayment times gainRatio/10 (110% = 10% bonus) at the oracle price; no auction, no grace period. Underwater vaults cannot be liquidated (SafeMath payout underflow). · liquidation delay None

No fallback. Each vault reads only the answer field of its single feed's latestRoundData(); updatedAt is never checked, there is no stale-answer rejection, and no alternate feed exists. The only remedy is the owner-gated changeEthPriceSource.

Linea legacy markets (WBTC, WETH)

WBTC (vault 0x8ab01c5ee3422099156ab151eecb83c095626599) · MCR 130% · debtRatio=2 (50% repayment), gainRatio=1100 (10% bonus), closingFee=0; 5 vaults with debt totaling 627.73 MAI; 0.224 WBTC collateral.

WETH (vault 0x7f9dd991e8fd0cbb52cb8eb35dd35c474a9a7a70) · MCR 130% · debtRatio=2, gainRatio=1100, closingFee=0; 3 vaults with debt totaling 370.80 MAI; 0.44 WETH collateral.

Moonbeam GLMR vault (oracle dead)

GLMR (vault 0x3A82F4da24F93a32dc3C2A28cFA9D6E63EC28531) · MCR 150% · debtRatio=2 (50% repayment), gainRatio=1100 (10% bonus), closingFee=50; 31 vaults with debt totaling 1,494.39 MAI; 19,808.99 GLMR collateral.

Designed mechanism (currently inoperative): permissionless partial liquidation via liquidateVault(vaultID, front) with 50% repayment and a 10% bonus, this newer vault build exposes liquidateVault(uint256,uint256), not the legacy liquidateVault(uint256). In practice no liquidation can execute because the oracle call reverts. Re-proved by direct eth_call at Moonbeam blocks 16786674-16786696 (2026-08-09): ethPriceSource() is 0x4497B606be93e773bbA5eaCFCb2ac5E2214220Eb and its latestRoundData() reverts, stabilityPool() is the zero address, debtRatio()=2 and gainRatio()=1100 are unchanged, getEthPriceSource() reverts, and on the live position 42 (8.330497 MAI debt, ownerOf 0x02282d4342b0258e202b8e1a3497a5102720f703) checkCollateralPercentage(42), checkLiquidation(42), and liquidateVault(42,0) all revert with empty return data. liquidationDelaySec is deliberately left unrecorded on this branch: the vault contract has no delay, grace-period, auction, or timestamp term, but this market is uncallable at every block. That creates an unbounded wait the schema's non-negative-integer field cannot express, and recording 0 would render as 'liquidation delay: none'. · liquidation delay uncallable (reviewed)

No protocol backstop: no stability pool, insurance fund, or committed bad-debt buyer exists on this deployment.

None, and the failure is live: the price source reverts, so getEthPriceSource() reverts and liquidation, withdrawal, and new borrows are all bricked. The vault contract has no alternate feed; the only remedy is the owner-gated changeEthPriceSource.

No global shutdown, settlement, or debt-socialization path exists in the vault contract. With the oracle dead, the 1,494.39 MAI of debt and the deposited GLMR are frozen in place until the owner Safe repoints changeEthPriceSource.

Arbitrum legacy markets (WETH, gDAI, WBTC)

WETH (vault 0xC76a3cBefE490Ae4450B2fCC2c38666aA99f7aa0) · MCR 130% · debtRatio=2 (50% repayment), gainRatio=1100 (10% bonus), closingFee=50; 19 vaults with debt totaling 301.88 MAI; 0.51 WETH collateral.

gDAI (vault 0xd371281896f2F5f7A2C65F49d23A2B6ecfd594f3) · MCR 112% · debtRatio=2, gainRatio=1100, closingFee=0; 3 vaults with debt totaling 322.92 MAI; 354.39 gDAI collateral.

WBTC (vault 0xB237f4264938f0903F5EC120BB1Aa4beE3562FfF) · MCR 130% · debtRatio=2, gainRatio=1100, closingFee=50; 3 vaults with debt totaling 9.12 MAI; 0.037 WBTC collateral.

BSC legacy markets (CAKE, BNB, DODO)

CAKE (vault 0x014a177e9642d1b4e970418f894985dc1b85657f) · MCR 130% · debtRatio=2 (50% repayment), gainRatio=1100 (10% bonus), closingFee=50; 7 vaults with debt totaling 39.88 MAI; 56.51 CAKE collateral.

BNB (vault 0xa56f9a54880afbc30cf29bb66d2d9adcdcaeadd6) · MCR 130% · debtRatio=2, gainRatio=1100, closingFee=50; 14 vaults with debt totaling 436.08 MAI; 2.10 BNB collateral.

DODO (vault 0x7333fd58d8d73a8e5fc1a16c8037ada4f580fa2b) · MCR 150% · debtRatio=2, gainRatio=1100, closingFee=0; 1 vault with debt totaling 12.70 MAI; oracle dead, frozen.

Permissionless partial liquidation via liquidateVault(): any MAI holder repays 1/debtRatio (50%) of a below-minimum vault's debt and extracts collateral worth the repayment times gainRatio/10 (110% = 10% bonus) at the oracle price; no auction, no grace period. Inoperative on the DODO market because its oracle reverts. · liquidation delay None

No fallback. Each vault reads only the answer field of its single source's latestRoundData(); updatedAt is never checked, there is no stale-answer rejection, and no alternate feed exists. On the DODO market the source already reverts, bricking liquidation, withdrawal, and borrowing. The only remedy is the owner-gated changeEthPriceSource.

No global shutdown, settlement, or debt-socialization path exists in the vault contract. The owner Safe can wind markets down by raising _minimumCollateralPercentage; the DODO market is already frozen by its dead oracle, and its residual debt remains on the books indefinitely.

Review notes & sources (68)

On-chain enumeration on 2026-08-08 of 71 QiDao vault contracts across 12 chains found ~2,099,471 MAI of recorded vault debt in 63 debt-bearing markets. ~71.7% of that debt sits in 15 Fantom markets whose price sources all revert (Multichain-era stranded debt), and a further ~1.3% sits in other dead-oracle markets (Polygon Celsius-era cxETH/cxADA/cxDOGE/CEL/FXS/dQUICK, Polygon stMATIC, Moonbeam GLMR, BSC DODO), where liquidation, withdrawal, and borrowing are all bricked. Every live market reads exactly one Chainlink feed: either a QiDao custom composite over one Chainlink feed or a direct feed, and the vault contract consumes only the answer field of latestRoundData() with no staleness check, no heartbeat enforcement, and no fallback; the only remedy is an owner-gated changeEthPriceSource by QiDao Safes. No stability pool, insurance fund, or bad-debt backstop exists on any observed deployment (stabilityPool is the zero address), and deeply underwater vaults cannot be liquidated at all because the SafeMath collateral payout underflows. Direct eth_call probes on 2026-08-09 (Fantom 122814200, Polygon 91727016-91727114, Moonbeam 16786674-16786696) confirm the dead-oracle markets are uncallable rather than merely undelayed: liquidateVault reverts with empty return data inside the price read, while the identical call on a live market returns the 'Vault is not below minimum collateral percentage' require string. liquidationDelaySec is therefore recorded as 0 only on branches with at least one operable market, and is deliberately left unrecorded on the four wholly dead-oracle branches (fantom-dead-oracle-legacy, polygon-dead-oracle-legacy, polygon-stmatic, moonbeam-glmr), whose true waiting time is unbounded and cannot be expressed in a non-negative-integer field. Independent pinned getEthPriceSource() probes on 2026-10-01 covered 49 recorded vault addresses across Ethereum, Base, Polygon, Optimism, Avalanche, Gnosis, Linea, Arbitrum, and BSC: 41 returned price words and eight reverted. These are price-read observations only, not a fresh full-market census, debt-weighted denominator, staleness audit, or liquidation-callability test; the August debt shares and adverse findings above remain historical observations.

Fantom legacy markets (15 debt-bearing, all oracles dead): All 19 probed Fantom vault contracts revert on getEthPriceSource() at Fantom block 122806117, every price source on the chain is dead (Chainlink retired Fantom feeds and QiDao's custom sources fail). 15 markets still record a combined 1,505,695.60 MAI of debt (Bitcoin vault 0xE5996a2c alone: 1,001,100.56 MAI; yvDAI 240,944.14; yvBTC 136,734.08; Moo Scream BTC 69,528.16; Moo Scream DAI 29,531.94; Moo Scream WETH 21,812.25; smaller dust elsewhere). Because the price call reverts, liquidateVault, withdrawCollateral, and borrowToken all revert: this debt cannot be liquidated and the collateral cannot be withdrawn. This is the Multichain-collapse stranded branch QiDao's own site references ('tokens held on Fantom return to holders once its dispute is resolved').
Ethereum legacy markets (WETH, cbETH, LDO): Three debt-bearing Ethereum vaults totalling 305,913.46 MAI at block 25712353. The WETH vault (0x98eb27E5, Chainlink ETH/USD direct) records 266,513.35 MAI of debt against only 64.5 WETH (~$124k) of collateral in one residual vault, deeply underwater bad debt that cannot be cleared because the SafeMath collateral payout underflows. cbETH (0x4ce4C542, QiDao composite over the Coinbase cbETH exchange-rate oracle) records 12,390.82 MAI against 3.47 cbETH; LDO (0x954ac12c, QiDao custom composite) records 27,009.29 MAI against 14,710.79 LDO.
Metis legacy markets (METIS x2, WETH, WBTC): Four debt-bearing Metis vaults totalling 82,176.85 MAI at block 23014200, all on live single Chainlink feeds. The legacy METIS vault (0x10dcbee8) records 75,388.98 MAI against 2,386 METIS (~$6k), deeply underwater bad debt; the second METIS vault (0x19Cb63CC) records 6,015.48 MAI against 113 METIS, also underwater. WETH and WBTC residue is small (688.39 and 84.00 MAI).
Base wstETH vault: The largest live-chain branch: 45,312.12 MAI of debt across 5 vaults at Base block 49713844, collateralized by 42.7 wstETH (~$101k). The price source is a QiDao composite (0x19Cb63CC) over Chainlink ETH/USD on Base with the wstETH/stETH rate; the vault consumes the answer with no staleness check and no fallback.
Base WETH vault: 2,424.77 MAI of debt across 39 vaults at Base block 49713844, collateralized by 164.14 WETH (~$315k), priced directly by Chainlink ETH/USD on Base with no staleness check and no fallback in the vault contract.
Base cbETH vault: 1,815.46 MAI of debt across 5 vaults at Base block 49713844, collateralized by 11.36 cbETH (~$25k). The price source is a QiDao composite (0x5e5CcE0a) referencing the Coinbase cbETH exchange-rate oracle; the vault consumes the answer with no staleness check and no fallback.
Polygon WBTC vault (current): The largest live Polygon branch: 35,315.69 MAI of debt across 10 vaults at Polygon block 91674649, collateralized by 1.664 WBTC (~$108k), priced directly by Chainlink BTC/USD on Polygon with no staleness check and no fallback in the vault contract.
Polygon WETH vault (current): 22,106.00 MAI of debt across 6 vaults at Polygon block 91674649, collateralized by 19.48 WETH (~$37k), priced directly by Chainlink ETH/USD on Polygon with no staleness check and no fallback in the vault contract.
Polygon dead-oracle legacy markets (cxETH, cxADA, cxDOGE, CEL, FXS, dQUICK): Six Celsius-era and delisted-collateral Polygon markets totalling 25,116.32 MAI of debt at block 91674649 whose price sources all revert: cxETH 10,073.79 MAI, cxADA 12,434.00 MAI, cxDOGE 2,594.53 MAI (CelsiusX wrappers, collateral devalued after the Celsius collapse), CEL 2.79 MAI, FXS 8.81 MAI (Chainlink FXS/USD proxy retired), dQUICK 2.40 MAI (inner QUICK/USD source 0xa058689f4bCa95208bba3F265674AE95dED75B6D reverts). With the price call reverting, liquidation, withdrawal, and borrowing are all bricked; this is un-liquidatable bad debt.
Polygon Gains gDAI vault: 7,566.87 MAI of debt across 11 vaults at Polygon block 91674649, collateralized by 7,708 gDAI (~$9.2k). The price source is a QiDao composite (0x853df00A) over Chainlink DAI/USD on Polygon with the gDAI share price; no staleness check and no fallback in the vault contract.
Polygon wstETH vault: 3,808.59 MAI of debt across 9 vaults at Polygon block 91674649, collateralized by 3.63 wstETH (~$8.6k). The price source is a QiDao composite (0xb057c5d7) over Chainlink ETH/USD on Polygon with the stETH/wstETH rate; no staleness check and no fallback in the vault contract.
Polygon MaticX vault: 1,424.56 MAI of debt across 2 vaults at Polygon block 91674649, collateralized by 26.24 MaticX. The price source is a QiDao composite (0x271ad427) over Chainlink's calculated MaticX/USD feed; no staleness check and no fallback in the vault contract.
Polygon stMATIC vault (current, oracle dead): 719.60 MAI of debt across 28 vaults at Polygon block 91674649 in the newer stMATIC market (0x9A05b116), whose composite price source 0x1526f06F8938c9E622f57e960B89eBC3C587A9bD wraps the legacy stMATIC source 0x97371dF4492605486e23Da797fA68e55Fc38a13f, and that inner source reverts, so getEthPriceSource() reverts: liquidation, withdrawal, and borrowing are bricked despite this being a 'current' wind-down-era market.
Polygon legacy wind-down markets (WETH, LINK, AAVE, CRV, WBTC, BAL, GHST, SAND, WPOL): Nine legacy Polygon markets under wind-down parameters (minimum collateral 591%-50000%, debtRatio=1 full-debt repayment, 1% bonus) totalling 257.91 MAI of residual debt across 1,986 debt-bearing vaults at block 91674649. Eight markets read live single Chainlink feeds (ETH/USD, LINK/USD, AAVE/USD, CRV/USD, WBTC/USD, BAL/USD, SAND/USD, MATIC/USD); GHST reads a QiDao custom source (0xd56E523d, live, internals not decoded). These are legacy v1 markets including the WETH vault 0x3fd939B0 recorded in this repo's mintAuthority evidence; residual debt is dust-sized but the markets remain live and liquidatable.
Polygon camWMATIC vault (legacy, wind-down): The camWMATIC vault recorded in this repo's mintAuthority evidence holds 71.86 MAI of residual debt across 159 vaults at block 91674649 under wind-down parameters (minimum collateral 10000%, full repayment, 1% bonus). The price source is a QiDao composite (0x7791b9d7) over Chainlink MATIC/USD with the camWMATIC/amWMATIC exchange rate; live and liquidatable, no staleness check, no fallback.
Polygon Arrakis MAI/DAI LP vault: 101.00 MAI of debt across 2 vaults at block 91674649, collateralized by Arrakis MAI/DAI LP tokens (RAKIS-37). The price source is a QiDao custom LP oracle (0xe6e55351) whose internals were not decoded; it answers live ($0.0112 per LP token). Notably this market prices a MAI-paired LP, so the collateral value partially references MAI's own soft-pegged price.
Polygon Stake DAO am3CRV vault (wind-down): 8.27 MAI of residual debt across 9 vaults at block 91674649 under wind-down parameters (minimum collateral 10000%, full repayment, 1% bonus), collateralized by sdam3CRV (Stake DAO Curve aave-stable LP). The price source is a QiDao custom 18-decimal oracle (0x56Ca9B7a) whose internals were not decoded; it answers live ($1.23).
Optimism legacy markets (WETH, Beefy Aave ETH, Beefy Curve stETH, WBTC, Yearn ETH): Five debt-bearing Optimism markets totalling 33,729.12 MAI at block 155309375. WETH (0x062016cd) holds 19,078.63 MAI across 301 vaults priced directly by Chainlink ETH/USD; Beefy Aave ETH (0xF9CE2522) holds 12,903.36 MAI and Yearn ETH (0x7198ff38) 291.37 MAI on QiDao yield-token composites whose inner priceSource is Chainlink ETH/USD; Beefy Curve stETH (0xa478E708) holds 1,144.64 MAI on a custom composite (internals not decoded); WBTC (0xb9c8f0d3) holds 311.12 MAI priced directly by Chainlink BTC/USD. All feeds live; no staleness checks; no fallback.
Avalanche legacy markets (BTC, Moo Aave AVAX, AVAX, ETH): Four debt-bearing Avalanche markets totalling 21,010.69 MAI at block 92345222. The BTC vault (0x1f8f7a1d) holds 20,264.24 MAI across 2 vaults against 1.90 BTC (~$124k) priced directly by Chainlink BTC/USD; Moo Aave AVAX (0xfA19c1d1) holds 738.92 MAI on a QiDao composite whose inner priceSource is Chainlink AVAX/USD; AVAX and ETH residue is dust. All feeds live; no staleness checks; no fallback.
Gnosis legacy markets (WETH, GNO): Two debt-bearing Gnosis markets totalling 1,280.81 MAI at block 47624593, both priced directly by single Chainlink feeds (ETH/USD, GNO/USD) with an unusually small liquidation slice (debtRatio=10, so each liquidation repays only 10% of a vault's debt). No staleness checks; no fallback.
Linea legacy markets (WBTC, WETH): Two debt-bearing Linea markets totalling 998.53 MAI at block 31656634, both priced directly by single Chainlink feeds (BTC/USD, ETH/USD) that were live at the observed block. No staleness checks; no fallback.
Moonbeam GLMR vault (oracle dead): 1,494.39 MAI of debt across 31 vaults at Moonbeam block 16774912 whose price source 0x4497B606be93e773bbA5eaCFCb2ac5E2214220Eb reverts latestRoundData, so getEthPriceSource() reverts: liquidation, withdrawal, and borrowing are all bricked and the debt is frozen in place.
Arbitrum legacy markets (WETH, gDAI, WBTC): Three debt-bearing Arbitrum markets totalling 633.92 MAI at block 492493585: WETH (0xC76a3cbe, 301.88 MAI) and WBTC (0xB237f426, 9.12 MAI) priced directly by Chainlink ETH/USD and BTC/USD; Gains gDAI (0xd3712818, 322.92 MAI) on a QiDao composite (0x759D0e86) whose inner priceSource is Chainlink DAI/USD on Arbitrum. All feeds live; no staleness checks; no fallback.
BSC legacy markets (CAKE, BNB, DODO): Three debt-bearing BSC markets totalling 488.66 MAI at block 114793445: CAKE (0x014a177e, 39.88 MAI) and BNB (0xa56f9a54, 436.08 MAI) priced directly by live single Chainlink feeds; DODO (0x7333fd58, 12.70 MAI) has a dead price source (0x87701B15 reverts) and is frozen.

Reviewed 2026-08-08

MAI

All burn & mint

16 routes on 16 chains, all issuer burn & mint.

Confidence: Manual review

Routes by chain (16)

Equal widths, supply split unavailable

Review notes & sources (7)

The review rates the inventory external lock & mint overall, weaker than every listed route (weakest: issuer burn & mint).

Historical-only Bridge Risk: MAI had Multichain-era external lock/mint exposure, and public governance and post-incident reporting tied historical cross-chain supply and bad debt to that infrastructure. No exact historical lockbox, bridge controller, message path, or dated burn/mint event route is currently verified, so external-lock-mint is retained as a profile-level historical tier with manual-review confidence rather than a current route classification. All 16 reviewed deployments are chain-local QiDao native issuance routes, not bridge representations; Polygon and Base are currently described by QiDao as fully live, the other nonzero-supply deployments are legacy native routes with current mintability unresolved, and Fraxtal is native but sunset with ownership renounced and zero supply. No bridge control is authored because no current or historical bridge controller is sufficiently verified to scope to a reviewed route.

Reviewed 2026-08-16

MAI

Freezable

A reviewed issuer or protocol control can freeze or seize this token in holders' wallets.

Sourced review

Power and scope

PowerFreezable

Review notes & sources (3)

Polygon MAI 0xa3fa99a148fa48d14ed51d610c367c61876997f1 is not mint-only. Its source-matched QiStablecoin implementation exposes owner-only burn(address,uint256), calling _burn on the supplied account without holder allowance. At Polygon block 95790889, owner is the live QiDao main Safe 0x3feacf904b152b1880bde8bf04ac9eb636fee4d8, with getThreshold()=3 and getOwners() returning five nonzero owners. Calls were pinned through https://polygon-bor-rpc.publicnode.com and the block hash was independently matched through https://polygon.drpc.org. Polygon totalSupply is 305128854.5227884 MAI. Applying the issuer circulating-supply exclusion-address inventory to pinned balances leaves 1574988.1298696 MAI; a mixed-date global estimate gives 12.3072%-13.1842%, depending on isolated Fantom inclusion. The older issuer API alone gives Polygon 12.9814% of its stated non-Fantom total. The 84.6% figure is not a circulating share: that earlier figure is a five-deployment raw-totalSupply ratio and includes burned, vault-held and treasury balances. Base and Optimism source-matched EditableERC20 implementations do not expose arbitrary-holder burns, pauses or upgrades; Base burnBurned() is hardcoded to address(1). No declared parent claim is identified. Reserve arithmetic uses debt weights, not excess collateral value: https://api.mai.finance/v2/totalDebt (source updated 2026-10-19T06:03:14.494Z) plus https://api.mai.finance/api/v2/psmStats (06:00:11.367Z). PSM holdings total 1395762.8412366; the issuer registry and application config identify USDC/USDC receipts and a Linea DAI receipt. Inclusive debt-plus-PSM denominator is 3692418.7615060; excluding the explicitly isolated Fantom loan book it is 2186698.1354486. These give PSM-only categorical exposure lower bounds of 37.8008% and 63.8297%, respectively. Other issuer/custodian collateral may increase them; the complete global reserve share remains unresolved, but is not decisive because Polygon has an active arbitrary-holder burn, which establishes Yes. Source registry: https://docs.mai.finance/docs/functions/smart-contract-addresses ; live application config: https://app.mai.finance/main.js ; circulation inventory (source timestamp 2026-08-10T04:05:34.333Z): https://api.mai.finance/api/v2/circulatingMai/composition .

Reviewed 2026-10-19

MAI

No public auth found

GENIUS (US): None foundPathway unresolved

Issuer disclosures

Reserve attestation: Not found
Redemption policy: Published
Reserve disclosure: Not recorded

MAI has no public GENIUS authorization on record.

Review notes & sources (13)

GENIUS review notes

Reviewed 2026-10-28. Official docs describe community governance by Qi holders, non-custodial vaults and DAO set loan fees; as in the corpus crvUSD and GHO assessments, DAO control is not treated as Liquity style immutability, and no issuerEntity is invented from protocol branding. The general introduction says MAI can only be minted through overcollateralized debt positions while the peg stability module page documents pooled 1:1 stablecoin minting and redemption, so both published mechanisms inform the classification and no CDP only exclusion is asserted. No exact token public GENIUS approval, application, state qualification, foreign registration or enforcement action was found in the checked sources, and GENIUS remains pre-effective in the reviewed primary sources.

Reviewed 2026-10-28

Persistent soft depeg

MAI continues to trade below its $1 target across supported venues; CoinGecko showed about $0.991 on June 28, 2026, while CDP redemption pressure has not consistently restored parity.

Key links

Website Twitter Docs

MAI Contracts

16 deployments tracked across Polygon, Ethereum, Arbitrum, and Optimism, plus 12 more.

Primary contract

Polygon

0xa3fa...97f1

View on Polygon explorer

Polygon0xa3fa...97f1

Ethereum0x8d6c...fad6

Arbitrum0x3f56...ea0d

Optimism0xdfa4...4b02

Base0xbf1a...87ae

Avalanche0x5c49...3f3b

Fantom0xfb98...213b

Gnosis0x3f56...ea0d

Metis0xdfa4...4b02

Contract addresses (16)

Polygon 0xa3fa99a148fa48d14ed51d610c367c61876997f1
Ethereum 0x8d6cebd76f18e1558d4db88138e2defb3909fad6
Arbitrum 0x3f56e0c36d275367b8c502090edf38289b3dea0d
Optimism 0xdfa46478f9e5ea86d57387849598dbfb2e964b02
Base 0xbf1aea8670d2528e08334083616dd9c5f3b087ae
Avalanche 0x5c49b268c9841aff1cc3b0a418ff5c3442ee3f3b
Fantom 0xfb98b335551a418cd0737375a2ea0ded62ea213b
Gnosis 0x3f56e0c36d275367b8c502090edf38289b3dea0d
Metis 0xdfa46478f9e5ea86d57387849598dbfb2e964b02
Moonbeam 0xdfa46478f9e5ea86d57387849598dbfb2e964b02
Kava 0xb84df10966a5d7e1ab46d9276f55d57bd336afc7
Polygon zkEVM 0x615b25500403eb688be49221b303084d9cf0e5b4
Fraxtal 0xb84df10966a5d7e1ab46d9276f55d57bd336afc7
BSC 0x3f56e0c36d275367b8c502090edf38289b3dea0d
Linea 0xf3b001d64c656e30a62fbaaca003b1336b4ce12a
Celo 0xb9c8f0d3254007ee4b98970b94544e473cd610ec

Supply & Liquidity

History

Explore

Explore next

Move from this coin into the next useful surface: peer benchmarks, taxonomy cohorts, or live trackers that add context to what you just read.

Case studyMAI: the bridge that broke the peg

Peers

All US Dollar stablecoins

DAI

Depeg history

MAI depeg Jul 2026 MAI depeg Jun 2026 MAI depeg Jun 2026 MAI depeg May 2026

Taxonomy

All US Dollar stablecoins CeFi-Dependent stablecoins Crypto-Collateralized stablecoins

Trackers

Stablecoin safety scores DEX liquidity rankings Depeg tracker See all CDP stablecoins

Actions

Open MAI in live compare Set MAI Telegram alerts Browse stablecoin comparisons Read the daily digest Use the Pharos API

Safety

D· 45/100

as of 2026-11-08

Peg Liquidity DEWSWatch· 20/100 · as of 2026-11-08

Access posture

Loading published access posture…

Regulatory standing

No public auth found

GENIUS (US): None foundPathway unresolved

Issuer disclosures

Reserve attestation: Not found
Redemption policy: Published
Reserve disclosure: Not recorded

MAI has no public GENIUS authorization on record.

Details & sources (13)

GENIUS review notes

Reviewed 2026-10-28

Price Transparency

$0.9956

Single-sourceSources 1/3

Sources

CoinGecko

Key links

Website Twitter Docs

MAI Contracts

Polygon0xa3fa...97f1

Ethereum0x8d6c...fad6

Arbitrum0x3f56...ea0d

Optimism0xdfa4...4b02

News

Loading recent events…

Evidence index

Exit

Redemption routeWaiting for section

Control

Mint AuthorityMint score loading
Collateral pricing & liquidationOpaque / unknown
Bridging & deploymentsAll burn & mint
Freeze & seizureFreezable

Profile

MAI profile facts

MAI (MAI) static profile: governance model CeFi-Dependent; backing model Crypto-Collateralized; peg US Dollar.

CeFi-Dependent Crypto-Collateralized US Dollar

Collateral: Overcollateralized crypto vaults, including bridged and wrapped assets, plus stablecoin PSM liquidity
Peg mechanism: Borrowers mint MAI against overcollateralized vaults; the PSM mints and redeems 1:1 for USDC after a 3-day wait
Jurisdiction: Not disclosed in the static profile.
Proof of reserves: No proof-of-reserves entry in the static profile.
Contracts: 16 deployments tracked across Polygon, Ethereum, Arbitrum, and Optimism, plus 12 more.

Source: Pharos registry profile fields. Live price, supply, reserve, liquidity, event, and safety data load in the interactive dossier on this page.

MAI quick answers

What is MAI?

QiDao's MAI is overcollateralized, minted against crypto vaults; Base and Polygon are only live chains after legacy wind-down, with persistent sub-$1 trading. The static profile records its US Dollar peg mechanism as: Borrowers mint MAI against overcollateralized vaults; the PSM mints and redeems 1:1 for USDC after a 3-day wait.

Is MAI safe?

As of Nov 8, 2026, Pharos grades MAI D (45/100) on its Safety Score. Pharos's reviews record that the issuer or an admin can freeze individual holders' balances. That is a low-band grade, which flags significant structural risk. The grade moves as reserve, redemption, peg and control evidence changes; the live Safety Score on this page shows the current reading.

What backs MAI?

Pharos records MAI's reserves as of Sep 5, 2026 as 100% QiDao overcollateralized crypto vaults. Reserve evidence: curated reserve profile. Pharos classifies the backing as Crypto-Collateralized.

Can MAI be frozen or blacklisted?

Based on tracked contract metadata and blacklist coverage, issuer or admin freeze controls are recorded.

Control evidence

MAI Mint Authority

Users mint MAI against collateral under governance, controlled by multiple Safes; supply is unbounded under adverse authority.

Confidence: Manual reviewControl posture: Multisig controlled

Control map

IssuerGoverned CDP

ControlsMinter admin Safe3/5Minter admin Safe×64/6Minter admin Safe×42/4

SupplyMAIUnbounded, adverse authority

Scoring breakdown

Derived posture Unknown

Component score Loading

The current Safety Score publication is loading; reviewed mint authority evidence is shown below.

Primary controls (17)

QiDao admin Safe (Polygon MAI owner, 3/5)
Minter admin / Safe
polygon / 0x3feacf...fee4d8
MintDirectSetupSafe, 3/5 thresholdSafe modules/guardNo modules or guards detected
QiDao 3-of-5 Safe owns the Polygon MAI token and administers vault onboarding, debt ceilings, and risk parameters.
QiDao admin Safe (Ethereum MAI owner, 4/6)
Minter admin / Safe
ethereum / 0x3182e6...9ff436
MintDirectSetupSafe, 4/6 thresholdSafe modules/guardNo modules or guards detected
QiDao 4-of-6 Safe owns the Ethereum MAI token.
QiDao admin Safe (Arbitrum MAI owner, 2/4)
Minter admin / Safe
arbitrum / 0xf32e75...e0982b
MintDirectSetupSafe, 2/4 thresholdSafe modules/guardNo modules or guards detected
QiDao 2-of-4 Safe owns the Arbitrum MAI token.
QiDao admin Safe (Optimism MAI owner, 2/4)
Minter admin / Safe
optimism / 0xb1a8d1...a73d60
MintDirectSetupSafe, 2/4 thresholdSafe modules/guardModules or guards present
The Optimism MAI owner Safe can authorize or revoke native mint paths and change owner-gated issuance parameters; current vault inventory and new-issuance status are not independently established.
QiDao admin Safe (Base MAI owner, 4/6)
Minter admin / Safe
base / 0xe816f0...2c613d
MintDirectSetupSafe, 4/6 thresholdSafe modules/guardNo modules or guards detected
The Base MAI owner Safe can authorize or revoke native mint paths and change owner-gated issuance parameters. QiDao currently identifies Base as a fully live deployment.
QiDao admin Safe (Avalanche MAI owner, 2/4)
Minter admin / Safe
avalanche / 0x3cf6a3...bf9ca2
MintDirectSetupSafe, 2/4 thresholdSafe modules/guardModules or guards unknown
The Avalanche MAI owner Safe can authorize or revoke native mint paths and change owner-gated issuance parameters; current vault inventory and new-issuance status are not independently established.
QiDao admin Safe (Fantom MAI owner, 2/3)
Minter admin / Safe
fantom / 0x679016...a15a54
MintDirectSetupSafe, 2/3 thresholdSafe modules/guardModules or guards unknown
The Fantom MAI owner Safe is a native issuance authority, but current new-issuance status is unresolved and the deployment is affected by dead-oracle legacy markets.
QiDao admin Safe (Gnosis MAI owner, 4/6)
Minter admin / Safe
gnosis / 0x4f5af8...3a9e80
MintDirectSetupSafe, 4/6 thresholdSafe modules/guardModules or guards unknown
The Gnosis MAI owner Safe can authorize or revoke native mint paths and change owner-gated issuance parameters; current vault inventory and new-issuance status are not independently established.
QiDao admin Safe (Metis MAI owner, 4/6)
Minter admin / Safe
metis / 0xc9d375...d854d8
MintDirectSetupSafe, 4/6 thresholdSafe modules/guardModules or guards unknown
The Metis MAI owner Safe can authorize or revoke native mint paths and change owner-gated issuance parameters; current vault inventory and new-issuance status are not independently established.
QiDao admin Safe (Moonbeam MAI owner, 4/6)
Minter admin / Safe
moonbeam / 0x75c7b5...c0104d
MintDirectSetupSafe, 4/6 thresholdSafe modules/guardModules or guards unknown
The Moonbeam MAI owner Safe is a native issuance authority, but current new-issuance status is unresolved and the deployment has dead-oracle legacy markets.
QiDao admin Safe (Kava MAI owner, 4/6)
Minter admin / Safe
kava / 0xe43d58...5c3a83
MintDirectSetupSafe, 4/6 thresholdSafe modules/guardModules or guards unknown
The Kava MAI owner Safe can authorize or revoke native mint paths and change owner-gated issuance parameters; current vault inventory and new-issuance status are not independently established.
QiDao admin Safe (Polygon zkEVM MAI owner, 2/4)
Minter admin / Safe
polygon-zkevm / 0x20265d...289355
MintDirectSetupSafe, 2/4 thresholdSafe modules/guardModules or guards unknown
The Polygon zkEVM MAI owner Safe is a native issuance authority; the latest available provider observation is stale, so current vault inventory and new-issuance status are unresolved.

Showing 12 of 17 primary controls · 5 more in the full control census

Review notes & sources (26)

Control posture

Material control is classified as requiring approval from a defined group of signers through a multisignature account.

CeFi-Dependent is the broader governance classification. Control posture describes more precisely where operational authority sits.

Control posture is not a Safety Score input. Economic Control is scored from the reviewed mint authority, oracle and bridge evidence.

Reviewed 2026-08-16

MAI Collateral pricing & liquidation

Opaque / unknown

24 branches price collateral from an undisclosed pricing method.

Oracle review: Probable

Max LTV98.04%

Min CR102%

Pricing path

SourcesDead Fantom price sources (Chainlink-retired and QiDao custom)Chainlink ETH/USD (Ethereum)QiDao cbETH composite (custom, internals getter-verified)+36 more

AggregatorOpaque / unknown39 feeds · 24 branches

ConsumerLiquidation engine

Debt by branch

Largest 5 of 24

Fantom legacy markets (15 debt-bearing, all oracles dead)Pricing tier: Opaque / unknown71.72% of debtMin CR 130–10000%
Ethereum legacy markets (WETH, cbETH, LDO)Pricing tier: Single-source / laggy14.57% of debtMin CR 120–130%
Metis legacy markets (METIS x2, WETH, WBTC)Pricing tier: Single-source / laggy3.91% of debtMin CR 130–155%
Base wstETH vaultPricing tier: Single-source / laggy2.16% of debtMin CR 125%
Polygon WBTC vault (current)Pricing tier: Single-source / laggy1.68% of debtMin CR 130%

+ 19 more branches under Feeds, parameters & failure behavior

Feeds, parameters & failure behavior

Feeds

Each vault's ethPriceSource reverts latestRoundData at the observed block: FTM 0xf4766552D15AE4d256Ad41B6cf2933482B0680dc, yvWFTM 0x530CD67a5898A20501cFcf74a3C68e21831d744c, yvDAI 0x3667ab1ebC668A3456a84A8371Db3f222eB4AF89, ETH 0x11DdD3d147E5b83D01cee7070027092397d63658, BTC 0x8e94C22142F4A64b99022ccDd994f4e9EC86E4B4, LINK 0x221C773d8647BC3034e91a0c47062e26D20d97B4, Moo Scream FTM 0xb01daa872E8eB0a203c5c890366dfa76113f7c76, Moo Scream WETH 0xef79b4c52Ec3b73838f6C3912fD9F81cC57E5eE9, Moo Scream BTC 0x53E71369490320123fa94c4813d8a711EF399457, Moo Scream LINK 0x266A781E42e91Bbb7b378E2971F71047C849f8dc, Moo Scream DAI 0x553e4595c8cc8e67bf396b0d31dBA48D204BCe9f, yvETH 0x425eA1422DBF9764D9f84e6d581c3e0187C5A340, yvBTC 0x654CF56E6e7d2bD2d81863e0F14840B741a16710, Moo BIFI 0xef00213d0409bd3bBB382D64bc43124faC9C5650, Moo Boo BTC-FTM 0x204B06f2Aa4a4d2C4D34A747E56919AE10B46905 · Dead Fantom price sources (Chainlink-retired and QiDao custom) · Fantom
WETH vault reads Chainlink ETH/USD proxy 0x5f4eC3Df9cbd43714FE2740f5E3616155c5b8419 directly; live at the observed block ($1,919.95). · Chainlink ETH/USD (Ethereum) · Ethereum
cbETH vault source 0xD795b83afDBCaDdc43F5bc1eF8E1970Bbda4E03a: underlying()=cbETH 0xBe9895146f7AF43049ca1c1AE358B0541Ea49704, token()=0xF017fcB346A1885194689bA23Eff2fE6fA5C483b (Coinbase exchange-rate oracle surface); live at $2,178.22. Exact USD leg not decoded from bytecode. · QiDao cbETH composite (custom, internals getter-verified) · Ethereum
LDO vault source 0xf84b454Fd48C777b21Dd09B33538cBBdbE88F52c: token()=0x4e844125952D32AcdF339BE976c98E22F6F318dB; live at $0.2939 (LDO). Composition not decoded from bytecode. · QiDao LDO composite (custom, internals not decoded) · Ethereum
Both METIS vaults read Chainlink METIS/USD proxy 0xD4a5Bb03B5D66d9bf81507379302Ac2C2DFDFa6D directly; live at the observed block ($2.52). · Chainlink METIS/USD (Metis) · Metis
WETH vault reads Chainlink ETH/USD proxy 0x3BBe70e2F96c87aEce7F67A2b0178052f62E37fE directly; live ($1,919.40). · Chainlink ETH/USD (Metis) · Metis
WBTC vault reads Chainlink BTC/USD proxy 0x51Ed8Fecf96813826F727CaBDF01b3cF6a61373e directly; live ($65,054.84). · Chainlink BTC/USD (Metis) · Metis
Vault source 0x19Cb63CCbfAC2f28B1fd79923f6aDfC096e6EBB4: priceSource()=Chainlink ETH/USD Base proxy 0x71041dddad3595F9CEd3DcCFBe3D1F4b0a16Bb70, underlying()=wstETH 0xc1CBa3fCea344f92D9239c08C0568f6F2F0ee452; live at $2,367.19. Rate composition getter-verified; exact arithmetic not decoded from bytecode. · QiDao wstETH composite over Chainlink ETH/USD (Base) · Base
Vault reads Chainlink ETH/USD Base proxy 0x71041dddad3595F9CEd3DcCFBe3D1F4b0a16Bb70 directly; live at the observed block ($1,920.09). · Chainlink ETH/USD (Base) · Base
Vault source 0x5e5CcE0ac9375937D264d0aaf680C5261f95e3ff: token()=0x806b4Ac04501c29769051e42783cF04dCE41440b (Coinbase exchange-rate oracle on Base), underlying()=cbETH 0x2Ae3F1Ec7F1F5012CFEab0185bfc7aa3cf0DEc22; live at $2,162.99 (consistent with ETH/USD x cbETH rate). Exact USD leg not decoded from bytecode. · QiDao cbETH composite (Base) · Base
Vault reads Chainlink BTC/USD Polygon proxy 0xc907E116054Ad103354f2D350FD2514433D57F6f directly; live at the observed block ($64,972.17). · Chainlink BTC/USD (Polygon) · Polygon
Vault reads Chainlink ETH/USD Polygon proxy 0xF9680D99D6C9589e2a93a78A04A279e509205945 directly; live at the observed block ($1,919.52). · Chainlink ETH/USD (Polygon) · Polygon
Each vault's ethPriceSource reverts latestRoundData at the observed block: cxETH 0x6cD4CeB4C5a6068dbC7BD1E3b1633a0666A68E46, cxADA 0xB8BDAe5bbBD01b9a876660D717B43fC2C02F5B56, cxDOGE 0x5c32c4e1c9E08AC713DD8EF10DEeC820830D9634, CEL 0xc9ECF45956f576681bDc01F79602A79bC2667B0c, FXS 0x6C0fe985D3cAcbCdE428b84fc9431792694d0f51, dQUICK 0x5F35E99494ac6215669bB9c4a7b217B6B9dDf59e (whose inner source 0xa058689f4bCa95208bba3F265674AE95dED75B6D also reverts). · Dead Polygon price sources (CelsiusX customs and retired Chainlink proxies) · Polygon
Vault source 0x853df00Ac364263F7f59744aAb4F4D7FCcfe90CA: priceSource()=Chainlink DAI/USD Polygon proxy 0x4746DeC9e833A82EC7C2C1356372CcF2cfcD2F3D (live, $0.9996), underlying()=Gains gDAI 0x91993f2101cc758D0dEB7279d41e880F7dEFe827; composite live at $1.1872. Rate composition getter-verified; exact arithmetic not decoded from bytecode. · QiDao gDAI composite over Chainlink DAI/USD (Polygon) · Polygon
Vault source 0xb057c5d7A95A581d6b9C192352F679541Bde69BF: priceSource()=Chainlink ETH/USD Polygon proxy 0xF9680D99D6C9589e2a93a78A04A279e509205945, underlying()=stETH (PoS) 0x03b54A6e9a984069379fae1a4fC4dBAE93B3bCCD; composite live at $2,353.69. Rate composition getter-verified; exact arithmetic not decoded from bytecode. · QiDao wstETH composite over Chainlink ETH/USD (Polygon) · Polygon
Vault source 0x271ad4279c319FEE4036416dD71F6D74E467076F: priceSource()=Chainlink 'Calculated MaticX / USD' feed 0x5d37E4b374E6907de8Fc7fb33EE3b0af403C7403 (live, $0.0905), underlying()=MaticX 0xfa68FB4628DFF1028CFEc22b4162FCcd0d45efb6; composite live at $0.0892. Rate composition getter-verified; exact arithmetic not decoded from bytecode. · QiDao MaticX composite over Chainlink Calculated MaticX/USD (Polygon) · Polygon
Vault source 0x1526f06F8938c9E622f57e960B89eBC3C587A9bD: priceSource()=0x97371dF4492605486e23Da797fA68e55Fc38a13f (legacy stMATIC source, owner 0x5A3ca642fdEd17296adDdb53A496ce4f26901596), underlying()=stMATIC 0x3A58a54C066FdC0f2D55FC9C89F0415C92eBf3C4. The inner source reverts latestRoundData at the observed block, so the composite and the vault's getEthPriceSource() revert as well. · Dead QiDao stMATIC composite (Polygon) · Polygon
WETH vault -> ETH/USD 0xF9680D99D6C9589e2a93a78A04A279e509205945; LINK vault -> LINK/USD 0xd9FFdb71EbE7496cC440152d43986Aae0AB76665; AAVE vault -> AAVE/USD 0x72484B12719E23115761D5DA1646945632979bB6; CRV vault -> CRV/USD 0x336584C8E6Dc19637A5b36206B1c79923111b405; WBTC vault -> WBTC/USD 0xDE31F8bFBD8c84b5360CFACCa3539B938dd78ae6; BAL vault -> BAL/USD 0xD106B538F2A868c28Ca1Ec7E298C3325E0251d66; SAND vault -> SAND/USD 0x3D49406EDd4D52Fb7FFd25485f32E073b529C924; WPOL vault -> MATIC/USD 0xAB594600376Ec9fD91F8e885dADF0CE036862dE0. All live at the observed block. · Chainlink (Polygon) — direct single feeds · Polygon
GHST vault source 0xd56E523d18a205f96CA8009f2c85aA47F3FA35ab; live at $0.0442. No standard aggregator getters; composition not decoded from bytecode. · QiDao GHST custom source (internals not decoded) · Polygon
Vault source 0x7791b9d71fa3A9782183B810f26b5C2eEdf53Eb0: priceSource()=Chainlink MATIC/USD Polygon proxy 0xAB594600376Ec9fD91F8e885dADF0CE036862dE0 (live, $0.0758), underlying()=amWMATIC 0x8dF3aad3a84da6b69A4DA8aeC3eA40d9091B2Ac4; composite live at $0.0796 (consistent with MATIC/USD x camWMATIC exchange rate). Rate composition getter-verified; exact arithmetic not decoded from bytecode. · QiDao camWMATIC composite over Chainlink MATIC/USD (Polygon) · Polygon
Vault source 0xe6e5535154dc430996bb5bC257634e89C7397Ec9 (8-decimal answer, live at $0.0112); no standard aggregator getters; composition not decoded from bytecode. The underlying LP pairs MAI with DAI, so the oracle implicitly depends on MAI's own price. · QiDao Arrakis LP custom oracle (internals not decoded) · Polygon
Vault source 0x56Ca9B7a4dB485606479DEf2b5eB70EcfaC62E2C (18-decimal answer, live at $1.23); no standard aggregator getters; composition not decoded from bytecode. · QiDao sdam3CRV custom oracle (internals not decoded) · Polygon
WETH vault reads Chainlink ETH/USD Optimism proxy 0x13e3Ee699D1909E989722E753853AE30b17e08c5 directly; live ($1,919.75). The Beefy Aave ETH composite 0x80762C8b0DBF57324DCBEB867d59c4Fc6fFDd960 and Yearn ETH composite 0xf9973B6Bf045755C09B36aA4A21F11E5c5f78cAf both report priceSource()=0x13e3Ee699D1909E989722E753853AE30b17e08c5 and answer live ($2,006.94 / $1,991.13 including their yield-token rates). · Chainlink ETH/USD (Optimism) · Optimism
Beefy Curve stETH vault source 0xFC8070e692C1c3C9705656809a76183cCfA709f7; live at $1,981.86. Composition not decoded from bytecode. · QiDao Beefy Curve stETH custom composite (internals not decoded) · Optimism
WBTC vault reads Chainlink BTC/USD Optimism proxy 0xD702DD976Fb76Fffc2D3963D037dfDae5b04E593 directly; live ($64,971.02). · Chainlink BTC/USD (Optimism) · Optimism
BTC vault reads Chainlink BTC/USD Avalanche proxy 0x2779D32d5166BAaa2B2b658333bA7e6Ec0C65743 directly; live ($65,026.44). · Chainlink BTC/USD (Avalanche) · Avalanche
Moo Aave AVAX vault source 0xdDC3D26BAA9D2d979F5E2e42515478bf18F354D5 reports priceSource()=Chainlink AVAX/USD Avalanche proxy 0x0A77230d17318075983913bC2145DB16C7366156 (live, $6.52); the plain AVAX vault reads 0x0A77230d17318075983913bC2145DB16C7366156 directly. · QiDao Moo Aave AVAX composite over Chainlink AVAX/USD; Chainlink AVAX/USD direct for the AVAX vault · Avalanche
ETH vault reads Chainlink ETH/USD Avalanche proxy 0x976B3D034E162d8bD72D6b9C989d545b839003b0 directly; live ($1,919.43). · Chainlink ETH/USD (Avalanche) · Avalanche
WETH vault reads Chainlink ETH/USD Gnosis proxy 0xa767f745331D267c7751297D982b050c93985627 directly; live ($1,921.92). · Chainlink ETH/USD (Gnosis) · Gnosis
GNO vault reads Chainlink GNO/USD Gnosis proxy 0x22441d81416430A54336aB28765abd31a792Ad37 directly; live ($106.60). · Chainlink GNO/USD (Gnosis) · Gnosis
WBTC vault reads Chainlink BTC/USD Linea proxy 0x7A99092816C8BD5ec8ba229e3a6E6Da1E628E1F9 directly; live ($64,972.14). · Chainlink BTC/USD (Linea) · Linea
WETH vault reads Chainlink ETH/USD Linea proxy 0x3c6Cd9Cc7c7a4c2Cf5a82734CD249D7D593354dA directly; live ($1,919.63). · Chainlink ETH/USD (Linea) · Linea
Vault source 0x4497B606be93e773bbA5eaCFCb2ac5E2214220Eb reverts latestRoundData at the observed block; no description() or other standard getters answer. · Dead Moonbeam price source · Moonbeam
WETH vault reads Chainlink ETH/USD Arbitrum proxy 0x639Fe6ab55C921f74e7fac1ee960C0B6293ba612 directly; live ($1,918.51). · Chainlink ETH/USD (Arbitrum) · Arbitrum
gDAI vault source 0x759D0e8623C5028ED4D447dB25Bbe789FD07A43D reports priceSource()=0xc5C8E77B397E531B8EC06BFb0048328B30E9eCfB (Chainlink DAI/USD Arbitrum proxy); composite live at $1.2373 including the gDAI share price. Rate composition getter-verified; exact arithmetic not decoded from bytecode. · QiDao gDAI composite over Chainlink DAI/USD (Arbitrum) · Arbitrum
WBTC vault reads Chainlink BTC/USD Arbitrum proxy 0x6ce185860a4963106506C203335A2910413708e9 directly; live ($64,972.55). · Chainlink BTC/USD (Arbitrum) · Arbitrum
CAKE vault reads Chainlink CAKE/USD BSC proxy 0xB6064eD41d4f67e353768aA239cA86f4F73665a1 directly; live ($1.43). · Chainlink CAKE/USD (BSC) · BSC
BNB vault reads Chainlink BNB/USD BSC proxy 0x0567F2323251f0Aab15c8dFb1967E4e8A7D42aeE directly; live ($603.10). · Chainlink BNB/USD (BSC) · BSC
DODO vault source 0x87701B15C08687341c2a847ca44eCfBc8d7873E1 reverts latestRoundData at the observed block; getEthPriceSource() reverts, so the market is frozen. · Dead DODO price source (BSC) · BSC

Optimism legacy markets (WETH, Beefy Aave ETH, Beefy Curve stETH, WBTC, Yearn ETH)Pricing tier: Single-source / laggy1.61% of debtMin CR 125–135%
Polygon dead-oracle legacy markets (cxETH, cxADA, cxDOGE, CEL, FXS, dQUICK)Pricing tier: Opaque / unknown1.2% of debtMin CR 10000–50000%
Polygon WETH vault (current)Pricing tier: Single-source / laggy1.05% of debtMin CR 130%
Avalanche legacy markets (BTC, Moo Aave AVAX, AVAX, ETH)Pricing tier: Single-source / laggy1% of debtMin CR 130–135%
Polygon Gains gDAI vaultPricing tier: Single-source / laggy0.36% of debtMin CR 112%
Polygon wstETH vaultPricing tier: Single-source / laggy0.18% of debtMin CR 130%
Base WETH vaultPricing tier: Single-source / laggy0.12% of debtMin CR 120%
Base cbETH vaultPricing tier: Single-source / laggy0.09% of debtMin CR 125%
Polygon MaticX vaultPricing tier: Single-source / laggy0.07% of debtMin CR 135%
Moonbeam GLMR vault (oracle dead)Pricing tier: Opaque / unknown0.07% of debtMin CR 150%
Gnosis legacy markets (WETH, GNO)Pricing tier: Single-source / laggy0.06% of debtMin CR 130%
Linea legacy markets (WBTC, WETH)Pricing tier: Single-source / laggy0.05% of debtMin CR 130%
Polygon stMATIC vault (current, oracle dead)Pricing tier: Opaque / unknown0.03% of debtMin CR 135%
Arbitrum legacy markets (WETH, gDAI, WBTC)Pricing tier: Single-source / laggy0.03% of debtMin CR 112–130%
BSC legacy markets (CAKE, BNB, DODO)Pricing tier: Single-source / laggy0.02% of debtMin CR 130–150%
Polygon legacy wind-down markets (WETH, LINK, AAVE, CRV, WBTC, BAL, GHST, SAND, WPOL)Pricing tier: Single-source / laggy0.01% of debtMin CR 591–10000%
Polygon Arrakis MAI/DAI LP vaultPricing tier: Single-source / laggy0.01% of debtMin CR 102%
Polygon camWMATIC vault (legacy, wind-down)Pricing tier: Single-source / laggy0% of debtMin CR 10000%
Polygon Stake DAO am3CRV vault (wind-down)Pricing tier: Single-source / laggy0% of debtMin CR 10000%