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LlamaRisk

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LlamaRisk executed emergency cap cuts on Oct 29–30 to restore borrowing capacity after the Aave exploit, reducing unused capacity by roughly $3.8 billion. Lower borrowing ceilings and temporary higher‑rate “Slope2” reductions were applied to Aave V3 and V4. GHO borrow‑cap changes queue from 150 M to 105 M GHO for Core and 85 M to 35 M for Prime, cutting 95 M GHO combined. Cap calculations use the higher of pre‑exploit or observation‑time borrowing plus ~2%, targeting lines that exceeded $10 M before the incident. Specific token caps: USDT 2,560 M USDT caps (55.3 M above debt), USDC 2,270 M USDC caps (54.1 M above debt). LlamaRisk also instituted a 10 % borrowing ceiling policy, though Rev1 notes 20 % for Core DAI, 34 % for Core USDtb, etc. New‑borrowing collateral rules after the rollback: USDT, USDC, USDT0, POL, WAVAX, sAVAX, XAUt, PAXG, OP and bridged equivalents keep zero collateral factor on V4, and E‑Mode on V3.· Entity summary generated by Graphiti

RELATIONS
27Relations
CURRENT
27Current
EVENTS
3Events
REPORTS
5Source reports
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Relation timeline

BY VALID-FROM DATE
  1. LlamaRiskEXECUTESAave V4

    LlamaRisk executed lower borrowing ceilings and temporary interest‑rate changes on Aave V4

    Current1 sourceAave V4
  2. LlamaRiskSET FULL UTILIZATION FORCore USDtb

    LlamaRisk’s modeled full‑utilization table lists 34 % for Core USDtb

    Current1 sourceCore USDtb
  3. LlamaRiskSET ZERO COLLATERAL POWER FOROP

    The plan keeps OP at zero collateral borrowing power for new borrowing

    Current1 sourceOP
  4. LlamaRiskSET ZERO COLLATERAL POWER FORUSDT

    The plan keeps USDT at zero collateral borrowing power for new borrowing

    Current1 sourceUSDT
  5. LlamaRiskEXECUTES SLOPE2 REDUCTIONAave

    LlamaRisk executed temporary Slope2 reductions on Aave’s borrowing‑rate curve

    Current1 sourceAave
  6. LlamaRiskSET ZERO COLLATERAL POWER FORUSDC

    The plan keeps USDC at zero collateral borrowing power for new borrowing

    Current1 sourceUSDC
  7. LlamaRiskSET ZERO COLLATERAL POWER FORPOL

    The plan keeps POL at zero collateral borrowing power for new borrowing

    Current1 sourcePOL
  8. LlamaRiskMARKED EXECUTED WAVE FORAave V4

    Only the V4 collateral‑configuration wave was explicitly marked as already executed in the 13:49 UTC update

    Current1 sourceAave V4
  9. LlamaRiskSET ZERO COLLATERAL POWER FORUSDT0 protocol

    The plan keeps USDT0 at zero collateral borrowing power for new borrowing

    Current1 sourceUSDT0 protocol
  10. LlamaRiskSET ZERO COLLATERAL POWER FORPAX Gold

    The plan keeps PAXG at zero collateral borrowing power for new borrowing

    Current1 sourcePAX Gold
  11. LlamaRiskSET FULL UTILIZATION FOREthereum Core frxUSD

    LlamaRisk’s modeled full‑utilization table lists 19 % for Ethereum Core frxUSD

    Current1 sourceEthereum Core frxUSD
  12. LlamaRiskDESCRIBES OVERCOLLATERALIZED POSITION OFAave

    LlamaRisk’s initial assessment described the exploiter’s Aave position as overcollateralised and subject to normal liquidation

    Current1 sourceAave
  13. LlamaRiskSET ZERO COLLATERAL POWER FORXAUT

    The plan keeps XAUt at zero collateral borrowing power for new borrowing

    Current1 sourceXAUT
  14. LlamaRiskSET ZERO COLLATERAL POWER FORWAVAX

    The plan keeps WAVAX at zero collateral borrowing power for new borrowing

    Current1 sourceWAVAX
  15. LlamaRiskSET FULL UTILIZATION FORMonad mUSD

    LlamaRisk’s modeled full‑utilization table lists 25 % for Monad mUSD

    Current1 sourceMonad mUSD
  16. WETHINCLUDED IN SIZINGLlamaRisk

    WETH’s 19 762‑WETH loan was included in LlamaRisk’s sizing basis for the exploit assessment

    Current1 sourceWETH
  17. LlamaRiskSET FULL UTILIZATION FORCore DAI

    LlamaRisk’s modeled full‑utilization table lists 20 % for Core DAI

    Current1 sourceCore DAI
  18. LlamaRiskEXECUTESAave V3

    LlamaRisk executed lower borrowing ceilings and temporary interest‑rate changes on Aave V3

    Current1 sourceAave V3
  19. LlamaRiskSET ZERO COLLATERAL POWER FORsAVAX

    The plan keeps sAVAX at zero collateral borrowing power for new borrowing

    Current1 sourcesAVAX
  20. LlamaRiskRECOMMENDSEthena Ecosystem Spoke

    LlamaRisk recommends the Ethena Ecosystem Spoke

    Current1 sourceEthena Ecosystem Spoke
  21. LlamaRiskRECOMMENDS COLLATERAL FACTOR FORUSDe

    LlamaRisk recommends a 93% collateral factor for USDe

    Current1 sourceUSDe
  22. LlamaRiskASSESSEDBabylon Labs

    LlamaRisk’s Oct 23 pre‑listing assessment evaluated Babylon Labs’ proposal.

    Current1 sourceBabylon Labs
  23. LlamaRiskRECOMMENDED COLLATERAL FACTOR FORSPCX

    LlamaRisk recommends a 55% collateral factor for SPCXc

    Current1 sourceSPCX
  24. LlamaRiskPROPOSED COLLATERAL RISK PREMIUM FORSPCX

    LlamaRisk proposes a 1,000 basis point collateral risk premium for SPCXc

    Current1 sourceSPCX
  25. LlamaRiskPROPOSED MAXIMUM LIQUIDATION BONUS FORSPCX

    LlamaRisk proposes a 6.5% maximum liquidation bonus for SPCXc

    Current1 sourceSPCX
  26. LlamaRiskISSUED RECOMMENDATION ONaEthUSDT token

    LlamaRisk issued an Oct. 20 recommendation on the supply balance of aEthUSDT

    Current1 sourceaEthUSDT token
  27. LlamaRiskASSESSEDSPCX

    LlamaRisk published its assessment of the listing of SPCXc on October 15

    Current1 sourceSPCX

Relations are facts Graphiti extracted from reports, not verbatim quotes. An end date means later reporting showed the relation no longer holds.

Events 3

Source reports 5