Deprecated contracts still holding value
Ethena's assessment for RD-F-166 — scored yellow on the v1.7.0 rubric. The evidence below is the curator's reasoning for this score.
Evidence summary #
EthenaMinting V1 (0x2cc440b721d2cafd6d64908d6d8c4acc57f8afc3) is deprecated per docs (error code 27 triggers migration to V2). It is a minting/redeeming gateway, not a collateral-holding vault. Unlikely to hold user funds directly (collateral is held off-chain at OES custodians). The $100K material value threshold in F166 definition refers to assets held — V1 gateway likely does not clear this threshold. However, user ERC-20 approvals to V1 may persist. Data cache coverage_flags.has_legacy_v1: true. Scored yellow: deprecated surface present but F166 red criterion (>$100K assets held) not confirmed. Curator action: verify via Revoke.cash-style scan of V1 address 0x2cc440b interactions.
Sources #
- Docshttps://docs.ethena.fi/solution-design/minting-usde/mint-and-redeem-contract-v2retrieved 2026-04-28
- EthenaMinting V1 — Etherscan address (Ethena: Mint and Redeem V1 label)https://etherscan.io/address/0x2cc440b721d2cafd6d64908d6d8c4acc57f8afc3retrieved 2026-04-28
Methodology #
Determine whether contracts marked deprecated by a protocol announcement still hold >$100K in assets.
See the full factor methodology and distribution across all protocols →