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Every protocol here carries a dated score and the share of it backed by independently verified evidence. Where that share is still thin the assessment says so, is marked Low-signal rather than given a risk band, and holds every unevidenced category at the neutral midpoint instead of assuming it safe. Every score and its reasoning are free to read; the underlying dependency, incident and audit records are part of a plan. Each reading here is fixed at the date beside it. Re-scoring never stops, but a changed reading reaches plan holders on the day it changes rather than this page, which is what a plan is for. How a score is built, how to read one, and how the rubric was tested against real exploits are all in the methodology.

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Scores run from 0, the safest reading, to 100, the riskiest, where 50 is the neutral midpoint every unverified category is held at. Red marks a protocol scoring 50 or above, the band called Elevated: worse than neutral on the evidence gathered. Amber marks one below it, called Moderate. The boundary is fixed. It does not move as coverage grows, and it is not fitted to any backtest result.

Liquity V2

Liquity V2 official site N/A

Ethereum

:

  • Evidence: this reading is based on 100% of the scored weight, verified against named sources. Categories without verified data are held at the neutral midpoint at their full weight, never counted as safe.
  • Validation: the rubric is backtested against past exploits of protocols in the same TVL, age and category bucket. None has been evaluated for this one yet, so the reading rests on its evidence alone.

Published 2026-09-30, unchanged since. Subscribers are told the day it changes.

Why this rating
Dependency risk11.3
Uses 3 oracles, composable with 3 other protocols. Liquity's own README ('Oracles in Liquity v2'): all oracles are Chainlink push feeds read through latestRoundData, with per-branch price calculations.
Show the evidenceWETH: ETH-USD. wstETH: STETH-USD times the WSTETH-STETH exchange rate. rETH: min(RETH-ETH market, RETH-ETH canonical rate) times ETH-USD. Redemptions use the max of market and canonical price when within 1 percent (wstETH) or 2 percent (rETH). A failing oracle shuts the branch down ('Aggressive shutdown triggered by failed oracle calls', Dedaub P2); the system is immutable, so the feeds cannot be swapped. Two of three branches also depend on the LST issuer's own exchange rate.
Code characteristics7.5
Admin key: none, open source.
Governance attack surface7.5
Top 10 holders control 67.73%, adjusted figure may still include pooled custody (untagged exchanges, infrastructure contracts) due to tagging coverage limits; exclusions require positive identification.
Audit profile5.0
6 audits on record, most recent audit is 1-2 years old; the most recent audit found 0 High and 0 Medium severity issues. This reflects code quality at the time of that audit only, not a claim that these specific issues are still unresolved today.
TVL profile3.5
TVL change (16%) is within a stable range.
Historical incidents2.3
No known own or inherited incidents as of 30 September 2026.
Team factors1.7
Doxxed team, track record: unknown.
Bug bounty1.5
Has a bug bounty program, up to $125 000.
Protocol age1.5
615 days live, past the ~1yr floor; treated the same as any older protocol, not scored progressively safer with more age.
Assets held (2)

Available with a plan. See pricing.

Dependencies (2)

Available with a plan. See pricing.

Incident history (0)

Available with a plan. See pricing.

Audit history (6)

Available with a plan. See pricing.

Common questions about Liquity V2

Foreshock's independent reading of Liquity V2 is Moderate risk, 41.8 out of 100, as of 30 September 2026. The largest single contributor to that reading is dependency risk: uses 3 oracles, composable with 3 other protocols. Liquity's own README ('Oracles in Liquity v2'): all oracles are Chainlink push feeds read through latestRoundData, with per-branch price calculations. All nine scored categories are backed by verified evidence. This published reading is fixed at that date. Re-scoring never stops, and when a reading changes it reaches plan holders on the day it changes rather than this page. Foreshock publishes the reading and the reasoning behind it. It is not a verdict on whether to use this protocol, and it is not investment advice.

Is Liquity V2 safe?
Foreshock does not answer that as a yes or a no. Its independent reading of Liquity V2 is Moderate risk, 41.8 out of 100, as of 30 September 2026, led by dependency risk: uses 3 oracles, composable with 3 other protocols. Liquity's own README ('Oracles in Liquity v2'): all oracles are Chainlink push feeds read through latestRoundData, with per-branch price calculations. The score and the reasoning are published in full so the reading can be checked rather than trusted.
Has Liquity V2 been audited?
6 audits on record, most recent audit is 1-2 years old; the most recent audit found 0 High and 0 Medium severity issues. This reflects code quality at the time of that audit only, not a claim that these specific issues are still unresolved today. An audit describes the code at the time it was reviewed. It is not a statement that the protocol is safe today.
Who controls Liquity V2?
Admin key: none, open source. Top 10 holders control 67.73%, adjusted figure may still include pooled custody (untagged exchanges, infrastructure contracts) due to tagging coverage limits; exclusions require positive identification.
Has Liquity V2 been exploited before?
No known own or inherited incidents as of 30 September 2026. Foreshock records an incident against a protocol whether it originated there or was inherited from something it depends on.
When was this Liquity V2 assessment last updated?
30 September 2026, and that date does not move on its own. A reading published here is fixed when it is published; re-scoring never stops, and a changed reading reaches plan holders on the day it changes rather than this page. Every category carries the date of the evidence behind it.
Also covered on Ethereum

This assessment follows Foreshock's published methodology. Exact category weights, scoring rules, thresholds, and aggregation logic are proprietary and not shown here. How to interpret this assessment

This reading will change.

This reading is fixed at the date above it, and it stays there. We keep re-scoring Liquity V2 as the evidence moves, a new audit, a changed admin control, an incident, and this page is free to read and always will be. The updated reading is what a plan buys: you are told by email on the day it changes, instead of finding out the next time you happen to look.

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