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@pigi_finance

Vault Intelligence for DeFi

pigi.finance
Joined September 2026
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$1B+ WAS LOST TO CRYPTO HACKS IN H1 2026. HERE'S WHAT VAULT DEPOSITORS SHOULD ACTUALLY WATCH

More than $1 billion was lost to crypto security incidents in the first half of 2026 alone. The exact number depends on whose methodology you use: @trmlabs 207 hacks ~$972M lost @CertiK 344 security
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Big research on @Morpho pigi tracks 16 Morpho USDC/ETH lending vaults with $10M+ deposited. $1.25B+ across this sample alone. Put them side by side and you see how much variety exists under the Morpho name. Here’s what we found.
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$1.25B+ sits across the 16 vaults we analyzed, run by curators including Gauntlet, Steakhouse, Smokehouse, Hakutora and Grove. That's what makes Morpho interesting: one lending layer has become infrastructure for a pretty diverse market of independently managed vaults.
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Independent reviews and data only. DYOR on pigi. pigi.finance

pigi.finance — Vault Intelligence for DeFi

pigi indexes 2,000+ DeFi vaults across 25+ protocols and 14 EVM chains — daily history, 0–100 risk scores with A–F bands, and risk-adjusted yield.

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Two vaults can sit on the same audited protocol and look completely different on pigi. > Steakhouse USDC, Ethereum: F, 17/100 > Steakhouse USDC, Base: B, 84/100 Same protocol doesn't mean same collateral, liquidity, governance or dependency risk.
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$273M sits in Spark USDC Vault on Base. The deposit asset is simple: USDC. The position underneath isn't. @sparkfinance allocates through @Morpho markets, so the vault inherits the collateral, liquidity and oracle dependencies of the markets it uses. “USDC vault” is only the wrapper.
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You can deposit USDC into a vault and end up exposed to something you've never owned. USDC → vault → lending market → collateral → oracle → another protocol The dependency chain can get long pretty quickly.
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Now put a vault at the front of that chain. You deposit USDC. The vault allocates into a lending market. That market accepts collateral whose value depends on an oracle or another protocol. You never bought that collateral. Your position can still depend on it.
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This is why the protocol name only tells you so much. Where does the vault actually deploy capital? What backs those markets? How are those assets priced? How deep is the exit if something breaks? The vault address is only the front door.
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GIVEAWAY: 5x pigi Pro subscriptions We’re giving 5 people full access to pigi Pro for 1 month ($200 each). To enter: → Follow @pigi_finance → Like + RT this post → Comment which DeFi vaults you’re currently in We’ll pick the winners in 48 hours.
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