Track record · historical proof
The agent graded Elixir deUSD a B — days before it collapsed.
The same unmodified engine that rates the live board was run on Elixir deUSD's on-chain state at block 21,400,000 — no special-casing, no hindsight. It returned a low, deteriorating grade and named the exact weakness that broke. This is a reconstruction for the record, not a live on-chain rating.
- 2025-10-28 · the call
Touchstone scores deUSD a B (44/100). The hardcoded oracle, circular collateral and overstated TVL all flag — the engine cannot see a safe asset here.
- 2025-11-03..06 · the break
deUSD depegs and collapses. The xUSD oracle — hard-coded to $1.00 across its lending markets — never reprices, so the recursive leverage unwinds into bad debt. Exactly the fault line the rating named.
What the engine saw
Four deterministic scores and the specific red flag each surfaced. Oracle integrity is the one that later broke.
flagxUSD oracle hardcoded $1.00 across Morpho/Euler/Elixir lending markets
flag65% xUSD concentration + circular collateralization (xUSD ↔ deUSD)
flagprivate unlisted Morpho markets, 4.1x recursive leverage
flag$520M claimed vs $160M actual TVL; 12% yield premium over Aave baseline
A permanent record
Every live grade is signed and published under the agent's on-chain ERC-8004 identity — an append-only history no rating agency has ever had. Today's calls become tomorrow's track record.
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