Research & Long Reads

On-chain research on liquidations & lending risk

We index every liquidation on Aave and Morpho. Sometimes the data tells a bigger story than "someone got liquidated." Here's what we've found.

On-chain forensics

The $1.1M Trap: how toxic-collateral markets farm liquidation bots

A slice of DeFi liquidations aren't accidents — they're honeypots on permissionless markets, and naive bots bleed over $1M every two months into them. We found the recipe in the data.

Field guide

Hot-oracle markets: 6 red flags before you get rekt

Permissionless lenders let anyone list any collateral with any oracle. Here are the six on-chain red flags that separate a real market from a trap — and how to check each in a minute.