DeFiPunk'd

Avalon Labs

5 deployments · $522.9M aggregate TVL · CDP

Deployments

Each deployment is rated independently. Pick one to see its rating, risk analysis, and stage.

TVL $392.3M
Type CDP
Chains Binance, Ethereum, Klaytn, Berachain, Sonic +1
View on DeFiLlama ↗
Control criteria
Upgradeability Upgradeable Bug bounty Governance forum Docs docs.avalonfinance.xyz
About

Avalon USDa is a Bitcoin-backed CDP stablecoin and core component of Avalon Labs' CeDeFi lending platform. USDa allows Bitcoin holders to borrow USD-denominated stablecoins collateralized by BTC, without liquidation risk, while sUSDa is a yield-bearing version earning protocol revenue. AVL is the governance token enabling staking (sAVL) and voting on protocol parameters. The protocol is deployed across Ethereum, BSC, Arbitrum, Klaytn, Berachain, Sonic, and Mantle with LayerZero cross-chain messaging.

Risk analysis

One card per dimension, sorted by severity. Only Verifiability and Autonomy carry automated signals in Phase 0. See methodology for scope.

Audit a dimension yourself · DEFI@home Contribute an LLM-run assessment — any model, any dimension. Three agreeing runs merge automatically into the public record.

DEFI@home is a distributed audit network modeled on SETI@home: instead of CPU cycles, it crowdsources LLM reasoning. Paste a slice prompt into Claude, ChatGPT, Gemini, or any browsing-capable model, and submit the JSON output as a pull request. The quorum bot merges it once ≥3 independent runs (from different models) reach the same grade — no single model, and no single contributor, can move the needle alone. How it works →

  • Address discovery 3 addresses on file · 1 run Submit run ↗
  • Verifiability Unverified Submit run ↗
  • Control Unverified Submit run ↗
  • Ability to exit Unverified Submit run ↗
  • Autonomy Unverified Submit run ↗
  • Open Access Unverified Submit run ↗
  • Audit all 5 dimensions · one prompt Submit run ↗
  1. Verifiability tentative
    Open source + 3 audits

    Protocol publishes a GitHub repository and has at least one audit on record. This is a coarse Phase-0 signal only: auditor reputation, scope, and post-audit review coverage are not yet weighted.

    Run your own prompt Submit run ↗
4 dimensions not yet assessed (Control, Ability to exit, Autonomy, Open Access)
  1. Control unknown Unverified
    Not yet assessed

    Who holds admin privileges, how contracts can be upgraded, and how quickly. No automated heuristic grades this at Phase 0; a real assessment arrives when onchain discovery reads roles, owners, and timelocks.

    No model has graded this dimension yet. Run the slice prompt through any LLM and submit the JSON — once ≥3 independent runs agree, the quorum bot merges the verdict here.

    Submit run ↗
  2. Ability to exit unknown Unverified
    Not yet assessed

    Whether users can exit on their own terms if the team disappears or acts adversarially. Requires per-protocol review; not available at Phase 0.

    No model has graded this dimension yet. Run the slice prompt through any LLM and submit the JSON — once ≥3 independent runs agree, the quorum bot merges the verdict here.

    Submit run ↗
  3. Autonomy unknown Unverified
    No Phase-0 autonomy signal

    Neither the category heuristic nor the forkedFrom signal fires for this protocol. A real autonomy graph (oracles, bridges, fallbacks, governance-mutable dependencies) arrives with Phase-2 onchain discovery.

    No model has graded this dimension yet. Run the slice prompt through any LLM and submit the JSON — once ≥3 independent runs agree, the quorum bot merges the verdict here.

    Submit run ↗
  4. Open Access unknown Unverified
    Not yet assessed

    Whether the protocol depends on privileged operators, whitelists, geo-restrictions, or off-chain infrastructure. This is not a signal DeFiLlama carries in a usable form; crawler-based detection lands in a later phase.

    No model has graded this dimension yet. Run the slice prompt through any LLM and submit the JSON — once ≥3 independent runs agree, the quorum bot merges the verdict here.

    Submit run ↗

Stage

Preview of the Phase-3 maturity framework. DeFiPunk'd will adopt DeFiScan v2's stages verbatim; the section is rendered below in its intended shape so the structure is visible today.

Avalon USDa has not yet been assessed under the DeFiScan v2 stage framework.
The walkaway test is the central criterion. Once stages land, protocols reach Stage 1 only if users can exit in the presence of malicious operators even when the emergency council disappears.
Scope of assessment
Stages are assessed per-protocol against DeFiScan v2's criteria: governance structure, upgradeability path, timelock durations, emergency-council scope, and the walkaway test. The analysis depends on onchain discovery (roles, owners, timelocks) and deeper review of deployed contracts — neither of which DeFiPunk'd automates at Phase 0.
Stage 0 requirements pending
Governance is largely off-chain, contracts are upgradeable with short or no timelock, and the protocol depends on a multisig or team with full discretion. At Phase 0 DeFiPunk'd does not automatically evaluate these; the assessment lands with crawler-based onchain discovery.
Stage 1 requirements pending
Users can exit or opt out on their own terms even if the team disappears. Upgrades run through a meaningful timelock with an emergency security council clearly scoped. The walkaway test is the headline criterion.
Stage 2 requirements pending
Protocol is fully permissionless and immutable, or upgrades require a supermajority of token holders with a long timelock and no emergency override. This is the terminal stage of the DeFiScan v2 framework.
Learn more about DeFiScan v2 stages →
Stages are an opinionated assessment of maturity, not a rating of security or safety. A protocol can sit at Stage 2 and still carry substantial technical or economic risk; the framework exists to incentivize decentralization, not to rank protocols.

Contract surface

Every contract in scope for this protocol — pooled from DeFiLlama's TVL adapter (mechanical) and DEFI@home discovery submissions (LLM-curated). Verified-source flags come from Etherscan + Sourcify; owner / multisig metadata is read on-chain when available. Reviewer audit context, not a slice score. A lending protocol's adapter set will list third-party collateral tokens alongside its own contracts; attribution is the grader's job.

  • 29addresses
  • 14verified source
  • 10proxies
  • 5of 9 owners are Safes

TVL adapter pinned at 683d369. Sourcecode fetched 2026-05-06. Control fetched 2026-05-07.

berachainpoolAddress0x02fe…48f0TVLproxy
berachainGnosisSafeProxy0x0c36…eba5TVL
berachainusdaAddress0xff12…9accTVL0x2836…f01b
berachainTransparentUpgradeableProxy0xa187…c70aTVLproxy0xca05…4723
bobFBTC0xc96d…c364TVL
bscTransparentUpgradeableProxy0x3119…93b9TVLproxy
bscpoolAddress0xc757…def7TVL
bscUSDa0x8a4b…0224TVL
ethereumSafeProxy0x5a79…757eTVLproxyself 3/4
ethereumTransparentUpgradeableProxy0x3119…93b9TVLproxy
ethereumpoolAddress0x3f39…8693TVLproxy
ethereumStakedUSDeV20x9d39…3497TVL0x3b0a…18625/11 Safe
ethereumUSDa0x0b4d…6316TVL0xdfb1…6ce95/6 Safe
ethereumUSDe0x4c9e…68b3TVL0x3b0a…18625/11 Safe
ethereumTetherToken0xdac1…1ec7TVL0xc6cd…a828
Ethereumgovernance_token (AVL)0x5c8d…8fa2discoverygovernance
Ethereumtoken (sUSDa)0x2b66…3bd9discoverytoken
Ethereumtoken (USDa)0x8a60…d9c2discoveryfactory
klaytnfbtcAddress0x4353…6d3bTVL
klaytnpoolAddress0x45f8…dbefTVL
klaytntreasuryAddress0xba88…5e4aTVL
klaytnusdaAddress0xdc3c…4ff6TVL
mantleFBTC0xc96d…c364TVL0xd90e…bf975/8 Safe
mantleTransparentUpgradeableProxy0x3119…93b9TVLproxy
mantlepoolAddress0x8f77…543eTVLproxy
mantleUSDa0x2bdc…eb2eTVL0x12c7…99685/6 Safe
soniclfbtcAddress0x040c…2ba5TVLproxy
sonicpoolAddress0x7447…7418TVLproxy
sonicUSDa0xff12…9accTVL0x2c14…445b

Protocol Info

Links

[defillama] Source: DeFiLlama [:] Source: DEFI@home quorum
Twitter
@avalonfinance_

Security

[:] Source: DEFI@home quorum
Audits
6 audits
Bug bounty
unknown
Security contact
unknown

Technical

[:] Source: DEFI@home quorum
Voting token
AVL Ethereum: 0x5c8d0c48810fd37a0a824d074ee290e64f7a8fa2
Upgradeability
Upgradeable

Provenance

[defillama] Source: DeFiLlama
Review status
listed
Updated
2026-06-01 11:27 UTC