★ Oracle source = spot DEX pool (no TWAP)
Ethena's assessment for RD-F-053 — scored green on the v1.7.0 rubric. The evidence below is the curator's reasoning for this score.
Evidence summary #
NOT APPLICABLE. EthenaMinting V2 (0xe3490297a08d6fC8Da46Edb7B6142E4F461b62D3) contains zero on-chain oracle calls. Source code inspection of code4rena-2023-10-ethena/EthenaMinting.sol and bbp-public-assets repo confirms no latestAnswer(), latestRoundData(), DEX price reads, or any oracle interface. USDe peg is maintained by delta-neutral basis trade, not oracle-driven liquidation. F053 does not fire. This is the most fundamental structural distinction of Ethena vs. lending protocols: there is no on-chain oracle in the critical execution path.
Sources #
- GitHubhttps://github.com/ethena-labs/bbp-public-assetsretrieved 2026-04-28
- https://etherscan.io/address/0xe3490297a08d6fC8Da46Edb7B6142E4F461b62D3retrieved 2026-04-28
- https://github.com/code-423n4/2023-10-ethena/blob/main/contracts/EthenaMinting.solretrieved 2026-04-28
Methodology #
Determine whether the primary oracle for any asset/market reads spot price from a single DEX pool without a TWAP window or secondary source.
See the full factor methodology and distribution across all protocols →