Dependency graph (protocols depended upon)
Falcon Finance's assessment for RD-F-050 — scored yellow on the v1.7.0 rubric. The evidence below is the curator's reasoning for this score.
Evidence summary #
External dependencies: Chainlink (oracle data), Fireblocks CVA and Ceffu MirrorX (MPC custody of ~$1.618B collateral), Binance and Bybit (CEX trading for basis yield), Superstate (tokenized UST RWA collateral), HT.Digital (weekly attestations). No on-chain fallback for any off-chain dependency.
Detail #
Protocol §7 lists all dependencies. Fireblocks and Ceffu custody the majority of user collateral off-chain using MPC wallets. Binance and Bybit are used for active delta-neutral basis trading. Superstate integration confirmed (first USDf mint against tokenized UST fund, chainwire.org July 2025 announcement). HT.Digital provides weekly reserve attestations (not an oracle). None of these dependencies have on-chain fallback mechanisms documented.
Sources #
- URLFalcon Finance Transparency and Security Guidefalcon.finance/news/a-guide-to-transparency-and-security-in-falcon-finance — Fireblocks CVA, Ceffu MirrorX confirmedretrieved 2026-05-12
- Falcon Finance $1B Milestone — Superstate Integrationchainwire.org/2025/07/29 — Superstate USDf mint confirmedretrieved 2026-05-12
- Falcon Finance Protocol Profile §700-profile.md §7 — external dependencies sectionretrieved 2026-05-12
Methodology #
List all external protocols whose failure would directly impair this protocol (LST providers, bridges, stablecoin issuers, keepers).
See the full factor methodology and distribution across all protocols →