BlackHartBlackHart
Scores/USDC/Provenance/Economic Soundness
D2

Economic Soundness

Robustness of economic model against flash loans, MEV, liquidation cascades, and incentive misalignment under stress.

Weight 13%62% confidence
82
Strong
info

How This Score Is Built

Robustness of economic model against flash loans, MEV, liquidation cascades, and incentive misalignment under stress.

+23Strong positive
+12Positive
+5Slight positive
−15Strong negative
−8Negative
−3Slight negative

Scoring Tree

BRI Formula
300 + 700 × ∏(Dᵢ/100)^wᵢ
733
Current BRI
D2Economic Soundness
Weight 13%
82
(82/100)^0.13 = 0.9745
Contributing Factors
+27Reserve assurance: Deloitte & Touche LLP publishes MONTHLY AICPA agreed-upon-procedures attestations that reserves >= USDC in circulation; ~80%+ of reserves in the BlackRock-managed Circle Reserve Fund (USDXX, a 2a-7 government MMF custodied at BNY Mellon); S&P reaffirmed USDC at '2 (strong)'
+27Primary economic risk is OFF-CHAIN: reserve composition / banking counterparty (USDC briefly depegged to ~$0.88 during the Mar-2023 SVB event, then fully recovered as contracts behaved correctly)
+27Confidence held moderate (62): peg solvency depends on off-chain attestations outside the BlackHart on-chain scoring substrate
-181:1 fiat-backed model: no on-chain leverage, flash-loan, liquidation, or AMM logic on the token itself — minimal on-chain economic attack surface
Evidence Sources
blackhart_analysisMay 30sha256:963e5b3fed70....View

Score Composition

-18

1:1 fiat-backed model: no on-chain leverage, flash-loan, liquidation, or AMM logic on the token itself — minimal on-chain economic attack surface

Strong negativecodeView in sourceopen_in_newDeFi Llama TVLMay 30, 2026
+27

Reserve assurance: Deloitte & Touche LLP publishes MONTHLY AICPA agreed-upon-procedures attestations that reserves >= USDC in circulation; ~80%+ of reserves in the BlackRock-managed Circle Reserve Fund (USDXX, a 2a-7 government MMF custodied at BNY Mellon); S&P reaffirmed USDC at '2 (strong)'

Strong positiveopen_in_newDeFi Llama TVLMay 30, 2026
+27

Primary economic risk is OFF-CHAIN: reserve composition / banking counterparty (USDC briefly depegged to ~$0.88 during the Mar-2023 SVB event, then fully recovered as contracts behaved correctly)

Strong positiveopen_in_newDeFi Llama TVLMay 30, 2026
+27

Confidence held moderate (62): peg solvency depends on off-chain attestations outside the BlackHart on-chain scoring substrate

Strong positiveopen_in_newDeFi Llama TVLMay 30, 2026

Evidence Chain (1 files)

BlackHart AnalysisMay 30, 2026, 05:10 AM
open_in_newEconomic Soundness — DeFi Llama TVL
sha256:963e5b3fed70...

Score History

No dimension-level score changes recorded yet.

Methodology: 2.1Formula: 1.1Weights: 1.1
How is Economic Soundness scored?← Back to Provenance Ledger