30 days of Transparency: Day 1 Protocol: @infiniFi Transparency Dashboard: Etherscan links direct you to each contract tailor made for that asset exposure (audited by @spearbit) Added benefit of risk tranching for siUSD & iUSD Detailed Exposure 🧵👇

Underlying Protocol Exposures: ⇒ @PendleIntern ⇒ @eulerfinance ⇒ @MorphoLabs ⇒ @maplefinance ⇒ @ethena_labs ⇒ @sparkdotfi ⇒ @aave ⇒ @reservoir_xyz ⇒ @capmoney_ ⇒ @Terminal_fi ⇒ @protocol_fx ⇒ @0xfluid

Direct Asset Exposures: Morpho Steakhouseinfinifi USDC: 3.2m ► Lending USDC to infinifi assets Euler Gauntlet Yield USDC: 2.6m ► Euler Yield (USDC) lending to various markets PT-cUSD: 1.9m ► Cap Money's PT (Cap is backed by overcollateralized lending and Aave lending) PT-tUSDE: 6.9m ► This is a predeposit campaign PT for Termpinal Dex on Ethena PT-srUSDe: 6m ► senior tranche USDe point farming via Strata wsrUSD: 14.2m ► Reservoir's wrapped and redeemable stablecoin, exposed to lending agg and a bit of stablecoin LPing PT-USDe: 3.6m ► Ethena PT sGHO: 1.5m ► Aave's staked stable PT-syrupUSDC: 5.7m ► Overcollateralized lending receipt asset from Maple PT-sUSDe: 12m & 1.9m ► Ethena PT (staked) Fluid USDC: 0.9m ► USDC lending on Fluid fxSAVE: 30m ► Stability pool receipt token for f(x) protocol sUSDe: 36m ► Ethena (staked) sUSDC: 27.8m ► Spark's USDC receipt asset, lending to Maple, Morpho, Sparklend, Idle, and Superstate Aave USDC: 2m ► Lending USDC on Aave

Indirect Asset Exposure: ⇒ iUSD, siUSD, liUSD via steakhouse USDC lending (3.2m) ⇒ TBILL, sBUIDL, wM, RLUSD, frxUSD, sfrxUSD, mUSD, cUSDO, pUSDe, USD0++, cUSD, syrupUSDC, USDtb, PYUSD via Euler Yield USDC (2.6m) ⇒ wsrUSD, MF-ONE, cbBTC, wstETH, WBTC, PYUSD, BYUSD, HONEY, fxSAVE, syzUSD, yzUSD via Reservoir's Steakhouse, Smokehouse, Telos, ect lending on Morpho, Euler, & Bend (14.2m) ⇒ weETH, tBTC, LBTC, xAUT, PAXG, via Fluid USDC lending (0.9m)

Note: There is zero exposure to xUSD or deUSD, even indirectly. h/t to the Infinifi risk council. Also: Infinfi user / ambassador If there's another stablecoin you want to understand the backing of better, comment below.