Veranta

Liquidation and auto-deleveraging 16/20

How positions are picked for auto-deleveraging

None by design; the docs say how the pool pays profitsThe avUSDC vault takes the other side of every trade, profit per position is capped at 2500% of collateral and every market has long/short OI caps, with no ADL.docs.veranta.xyz (opens in a new tab) · 3 November 2026

Partial liquidation

NoDocs say the position is liquidated when the collateral health ratio falls to 85% and describe no partial liquidation.docs.veranta.xyz (opens in a new tab) · 3 November 2026

Auto-deleveraging in the last 24 months

None foundNo ADL mechanism exists in the pool design, and a news search found no ADL or deleveraging event since Nov 2024.docs.veranta.xyz (opens in a new tab) · 3 November 2026

Risky markets isolated or capped

YesEvery market has a separate open-interest cap for longs and shorts.docs.veranta.xyz (opens in a new tab) · 3 November 2026

Insurance fund and who absorbs losses No data

Still missing: backstop against total open interest.

Backstop balance readable on-chain

YesThe counterparty pool is the avUSDC USDC vault contract on Base, so its balance can be read on-chain.docs.veranta.xyz (opens in a new tab) · 3 November 2026

Backstop against total open interest

Not confirmed yetThe only figures (vault TVL about $20.8M at an unclear date, OI about $30M self-reported in Sept 2026) are not from the same date.docs.veranta.xyz (opens in a new tab) · 3 November 2026

Order of loss absorption published

YesThe Security Module page sets an order (fee-funded vault buffer, which the treasury can top up, then slashing of up to 20% of staked AVNT once the buffer ratio is below 0.925, then LPs), though it does not say slashing is live.docs.veranta.xyz (opens in a new tab) · 3 November 2026

Price oracle 9/15

Independent sources in the liquidation price

TwoPyth is the primary price, cross-checked against Chainlink, or against offchain venue feeds where Chainlink is not available.docs.veranta.xyz (opens in a new tab) · 3 November 2026

Price update interval

Not disclosedThe page gives no update rate and says only that prices more than a few seconds old are rejected.docs.veranta.xyz (opens in a new tab) · 3 November 2026

Who signs prices

Many partiesPyth prices come from many publishers, checked against the Chainlink DON.docs.veranta.xyz (opens in a new tab) · 3 November 2026

Oracle failure with user losses, last 24 months

None foundA news search for Avantis/Veranta oracle incidents, exploits and outages since Nov 2024 found none.docs.veranta.xyz (opens in a new tab) · 3 November 2026

Custody and withdrawal 4/15

Users hold their own funds

YesThe legal page says the protocol is non-custodial and users control their own funds and keys.docs.veranta.xyz (opens in a new tab) · 3 November 2026

Contract-level exit if the operator stops

Not disclosedNo docs page in the full index describes a forced-withdrawal or exit path for when keepers or the operator stop.docs.veranta.xyz (opens in a new tab) · 3 November 2026

Withdrawals can be frozen without a delayed vote

Not disclosedNeither the docs nor the ToS describe contract pause or admin powers; the ToS only lets Veranta suspend the Services and mentions protocol logic that can claw back profits.veranta.xyz (opens in a new tab) · 3 November 2026

Delay before upgrades apply

Not disclosedThe audits page and the docs index list no multisig, timelock or upgrade process.docs.veranta.xyz (opens in a new tab) · 3 November 2026

Incidents in the last 24 months 15/15

None found since November 2024.

Liquidity 3/10

A $100,000 market order in BTC or ETH, buying and selling, moved the price by 1.27 basis points on average (2 readings, 3 November 2026). The median across the venues we measure was 1.00.

Who provides the liquidity

Mostly one vault, pool or market makerThe single avUSDC vault takes the other side of every trade.docs.veranta.xyz (opens in a new tab) · 3 November 2026

Transparency and operations 6/10

Public audits of core code, last 24 months

3Counts the v2 reports by Guardian, Sherlock and Zellic (deployed Aug 2026); the v1.5 reports (Zellic, Sherlock; deployed Q1 2025) carry no report dates, so they are not counted.docs.veranta.xyz (opens in a new tab) · 3 November 2026

Core code public

NoThe GitHub org linked from the audits page has no public repositories, and the docs link no contract source.github.com (opens in a new tab) · 3 November 2026

Public status page

Not disclosedThe docs index links no status page, and a web search found none.docs.veranta.xyz (opens in a new tab) · 3 November 2026

Operating company named in the terms

YesThe ToS name Veranta Foundation as the contracting party, under Cayman Islands law.veranta.xyz (opens in a new tab) · 3 November 2026