Historical bad-debt events
Jupiter Perpetual Exchange's assessment for RD-F-067 — scored not_applicable on the v1.7.0 rubric. The evidence below is the curator's reasoning for this score.
Evidence summary #
Lending-only factor per PD-024 taxonomy resolution. Jupiter Perps is not a lending protocol and does not have bad debt in the lending sense (undercollateralized borrower positions creating protocol deficit). The perps structural analogue — JLP absorbing net trader profits when traders are profitable — is captured under RD-F-065. As a documented note: no bad-debt episodes confirmed in Jupiter Perps history; the Feb 2025 $400M liquidation cascade was processed without any socialized loss. The April 2026 Drift exploit involved JLP held as Drift collateral but did not create bad debt within Jupiter Perps own program.
Sources #
- Internal03-taxonomy.md Category 4 PD-024 resolutionrisk-dashboard/research/outputs/03-taxonomy.md — PD-024 resolution: RD-F-067 lending-only, not_applicable for non-lendingretrieved 2026-05-16
- Market Crash Analysis Feb 2, 2025 — Jupiter Research ForumJupiter Research Feb 2025 crash analysis — no bad debt in $400M liquidation cascaderetrieved 2026-05-16
Methodology #
Count and sum (USD) the number of documented bad-debt events where the protocol socialized losses across depositors.
See the full factor methodology and distribution across all protocols →