DeFiPunk'd

USDT0

Bridge

TVL $3.6B
Type Bridge
Chain Ethereum
View on DeFiLlama ↗
Control criteria
Upgradeability Upgradeable Bug bounty immunefi.com Governance forum Docs usdt0.to
About

USDT0 is an omnichain fungible token (OFT) that wraps Tether's USDT using LayerZero's cross-chain messaging protocol. Users lock USDT on Ethereum and mint equivalent USDT0 on destination chains (Arbitrum, Optimism, Polygon, etc.), maintaining 1:1 parity. The system uses a lock-and-mint design: USDT remains locked on Ethereum while USDT0 circulates on other chains. Administered by Everdawn Labs in partnership with Tether and LayerZero Labs.

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 8 addresses on file · 1 run Submit run ↗
  • Verifiability Unverified Submit run ↗
  • Control Unverified Submit run ↗
  • Ability to exit 1/3 submitted Submit run ↗
  • Autonomy Unverified Submit run ↗
  • Open Access Unverified Submit run ↗
  • Audit all 5 dimensions · one prompt Submit run ↗
  1. Verifiability tentative
    Open source + 8 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 ↗
  2. Ability to exit 1/3 model submitted
    Permissionless cross-chain exit via LayerZero OFT; no pause mechanism
    Tentative grades
    • claude-sonnet-4-5 (autorun) green

    No quorum yet — verdict and steelman hidden until ≥3 models agree.

    Evidence (7)
    E1
    Primary exit function is send((uint32,bytes32,uint256,uint256,bytes,bytes,bytes),(uint256,uint256),address) in both the Ethereum OFT adapter and destination-chain OFT contracts. This function bridges USDT0 to other chains or back to Ethereum (unlocking USDT).
    E2
    The send() function is payable with no access modifiers restricting who can call it. Examination of the merged ABI shows no whenNotPaused, _checkResumed, onlyRole, or similar guards on the send() function.
    E3
    No pause mechanism exists in the OFT contracts. The ABIs contain no pause(), unpause(), paused(), or isPaused methods. The owner (0x4DFF9b5b0143E642a3F63a5bcf2d1C328e600bf8, a 3-of-5 multisig) can call setDelegate, setPeer, setEnforcedOptions, and upgrade functions, but these do not gate user exits.
    E4
    No EMERGENCY vs GOVERNANCE pause distinction exists because no pause mechanism is present. The multisig owner has no ability to stop exits through the OFT send() function.
    E5
    No queued redemption mechanism. LayerZero OFT operates on immediate cross-chain messaging with no withdrawal queue or delay period.
    E6
    No forced-exit or escape-hatch mechanism is needed because the primary exit path (send()) is already permissionless and cannot be paused.
    E7
    The send() function can be called directly on-chain via Etherscan write interface or any web3 wallet. No frontend dependency for exit—users can construct the call with dstEid (destination chain ID), to (recipient address as bytes32), amountLD, and fee parameters.
    Why is this slice uncertain?
    • only 1 of 3 model submissions on record — quorum requires ≥3 agreeing models

    A fresh independent run can establish (or overturn) a verdict.

    Run your own prompt Submit run ↗
    Sources claude-sonnet-4-5 (autorun) no url View raw submissions ↗
  3. Autonomy tentative
    External message validators reduce autonomy

    Bridges rely on an external validator set, guardian signatures, or light-client proofs — a category-level autonomy risk independent of any specific implementation.

    Run your own prompt Submit run ↗
2 dimensions not yet assessed (Control, 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. 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.

USDT0 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.

  • 8addresses
  • 2verified source
  • 1proxies
  • 0of 1 owners are Safes

TVL adapter pinned at 683d369. Sourcecode fetched 2026-05-06. Control fetched 2026-05-14.

Arbitrumgovernance multisig (Safe)0x4dff…0bf8discoverymultisig
ArbitrumOFT (mints/burns USDT0)0x14e4…8d92discovery
Arbitrumtoken (USDT0)0xfd08…cbb9discoverymultisig
ethereumTransparentUpgradeableProxy0x6c96…1deeTVL + discproxy
ethereumTetherToken0xdac1…1ec7TVL0xc6cd…a828
Ethereumgovernance multisig (Safe)0x4dff…0bf8discoverymultisig
Optimismtoken (USDT0)0x01bf…1071discoverytoken
Polygontoken (USDT0)0xc213…8e8fdiscoverytoken

Protocol Info

Links

[defillama] Source: DeFiLlama [:] Source: DEFI@home quorum
Twitter
@USDT0_to

Security

[:] Source: DEFI@home quorum
Audits
6 audits
Security contact
integrations@usdt0.to

Technical

[:] Source: DEFI@home quorum
Upgradeability
Upgradeable

Provenance

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