Fluid
Lending · Instadapp family — Lending and DEX hybrid (Instadapp).
AI review
AI assessment
updated 4h ago·Claude (preview)·previewFluid is a lending protocol in the Instadapp family. 6 of 16 risk feeds in the registry report on it. 2 sourced incidents on record. No material change has been detected in the current window.
- Governance: FLUID token DAO; Compound-style GovernorBravo (0x0204…fA1B), ~3-day vote governance
- 6 of 16 feeds report on Fluid. coverage
- Most recent recorded event: Rewards Merkle-distributor key compromise. incident
AI-generated summary of facts already in this registry — not a Rails assessment, not a risk score, and not a ranking. Per the project charter, the registry never produces its own composite risk judgement. Verify every point against the linked sources below. This is an illustrative preview of a proposed feature; the content is not live.
Feeds
How feeds see it
Seen through 3 of 4 methodology lenses (rating, dashboard, monitoring). A neutral view of who is looking and how — not a risk judgement.
The 6 reporting feeds are split on how fully they assess Fluid: 4 assess it fully, 2 only partially, and they use different methodologies and scales. We show every position side by side and do not reconcile them into a single verdict — oracle diversity made visible, not adjudicated.
Added to Sphere coverage in 2025; rates, liquidations, risk analytics.
Vault analytics and risk-adjusted yield across 50+ protocols; exploits, concentration, risk-adjusted APY. Paid structured API.
View sourcePosition-management tooling: live loan-health / safety-ratio tracking and automated liquidation protection for leveraged positions.
View sourceLive per-pool grades; e.g. wstETH Excellent (5/5), WETH Good (3/5).
Multi-dimension registry: Control, Exit, Autonomy, Open Access, Verifiability via LLM consensus.
View sourceFluid protocol page listed; pool grades not captured pre-migration.
View sourceDecentralization maturity: who controls keys, upgrades, and admin powers. Stage 0–2 framework.
Protocol risk research and parameter recommendations; collateral and governance risk.
Vault-level risk monitoring for Morpho curators: allocation risk and curator behavior.
Institutional-grade credit-risk ratings for DeFi protocols and borrowers. Credora by RedStone; GraphQL API + on-chain attestations (EAS).
Independent risk rating for DeFi vaults; 300+ subscores across 85+ mechanisms. Open-source.
Deterministic vault risk scoring across 700+ vaults: asset quality, code maturity, governance. Open methodology (public API, CLI, MCP server).
DAO governance-capture risk: delegate/voting-power concentration, cost-to-attack vs. treasury value, and proposal/power-shift monitoring across major DAOs. Open-source.
Process Quality Reviews (PQR): documentation, testing, audits, and admin-key practices scored 0–100. Transparency-of-process, not market risk.
Agent-based economic simulation: insolvency prevention, parameter optimization, and risk-scenario analysis for lending markets.
Edge risk oracles and economic-risk dashboards: real-time parameter automation and scenario stress for lending markets (active on Aave, GMX, Pendle).
Governance
Governance at a glance
- Governance
- DAO (on-chain)
- Timelock
- 2 days
- Core contracts
- Upgradeable
Structural facts, distilled from the sourced control records below — neutral capabilities, not a risk score.
| Governance | |
| Upgradeability | |
| Admin control | |
| Timelock |
Incidents
A compromised proposer/approver key was used to submit empty-proof Merkle claims, draining ~125K FLUID and ~51.9K GHO from rewards-distributor contracts. The core lending protocol and user deposits were unaffected; compromised roles were rotated out.
Fluid paused rsETH positions during the Kelp DAO rsETH exploit, among the lending venues that froze the asset within the hour of the unbacked mint.
Material risk events, presented verbatim from cited sources — not a Rails assessment.
Audits
| Auditor | Date | Scope | |
|---|---|---|---|
| MixBytes | 2024-06 | Fluid Vault Protocol | Report |
| Cantina (competition) | 2025-01 | Fluid DEX protocol | Report |
| Statemind | 2024 | Fluid protocol / Liquidity Layer | Report |
Representative public audits, attributed and linked to source — not a Rails assessment, and not a completeness or safety guarantee.