TVL concentration (top-10 wallet share)
Venus Protocol's assessment for RD-F-064 — scored yellow on the v1.7.0 rubric. The evidence below is the curator's reasoning for this score.
Evidence summary #
99.44% of TVL ($1.255B of $1.262B) is on BSC (BNB Chain). Single-chain concentration creates systemic exposure: a BSC network halt, regulatory action, or validator crisis would affect near-total protocol TVL. Wallet-level top-10 depositor concentration is not available from free-tier data (Dune returns 403). Historical evidence from the 2021 XVS incident confirms that a single large borrower / coordinated set can cause $100M+ bad debt on the Core Pool's shared-liquidity model. Chain-level concentration confirmed as yellow; wallet-level flagged but unquantified.
Sources #
- Partner feedVenus Protocol — DefiLlama Chain BreakdownDefiLlama API — Venus chain breakdown (BSC 99.44%)retrieved 2026-04-28
- BSC Venus Protocol — $200M Liquidations (2021)The Block — 2021 XVS liquidation incident showing large-borrower concentration riskretrieved 2026-04-28
Methodology #
Compute the percentage of protocol TVL held in the top-10 depositor addresses.
See the full factor methodology and distribution across all protocols →