ExtraFi
Lending
ExtraFi is a community-driven lending & leveraged yield farming protocol built on Optimism.
Risk Rating
Watch Out
Protocol Code Quality
Protocol Maturity
Protocol Design
What is ExtraFi?
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Information
Exploit/Hacks
None
- Auditors
- Please see our FAQ on experienced auditors
Info
- Website
- Token: EXTRA
- Tags: Lending
Key Metrics
- TVL: $161.2M (Rank #75)
- TVL Ranking by Lending: #0
- Blockchain: Base, Optimism
- Chain TVL
- Base: $142.49M
- Optimism: $18.69M
Risk Assessment
Watch Out
Protocol Code Quality
- Code reviewed by several experienced auditors; BlockSec and PeckShield
- Anonymous team reduces transparency
- No documented protocol hacks since launch
Protocol Maturity
- Latest protocol version launched in 2023; maturity over one year minimizes technical risk as smart contracts are well battle-tested
- Top 20% by total value locked slightly reduces risk
- Multisig wallet controls protocol upgrades
- Multisig consists of less than 4 signers, which makes the protocol more susceptible to centralization risks
- No timelock exists or no information documented, which mean a malicious actor could approve upgrades without any delay
- Low voting power concentration reduces risk
Protocol Design
- Robust controls to mitigate oracle price manipulation
- Secured lending market that uses a combination of isolated and cross-collateral pools depending on the individual asset serves to reduce risk
- Basic controls in place to prevent risky borrowing
- Basic mechanisms in place to incentivize liquidations
- No reserves or no stability module
Things to know about ExtraFi
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