Pendle V2
Vaults & Yield · Ethereum · Arbitrum · BNB
Verdict Rating
“A strong safety posture with no material failures in the reviewed scenarios.”
Rubric Breakdown
| Area | Score | Weight |
|---|---|---|
| Depositor Protection | 53 | 40% |
| Market Stress | 64 | 25% |
| Exit & Liquidity | 60 | 15% |
| Safety Assist | 65 | 20% |
Area scores
Test Evidence
Scenario Results
Open a scenario for its setup and recorded result.
Frontal Drain✕Failed
Setup. Common attack classes are run against the deployment: reentrancy, rounding and precision, access control, flash loans, and donation attacks.
Recorded result. Common attack classes tested against the contracts.
- Fork block
- Ethereum - block 23370000
- Reproduction script
- Not published for this report.
Pole Test✕Failed
Setup. One privileged key (admin, owner, or a single signer) is assumed leaked or misused.
Recorded result. Privileged key and upgrade path reviewed.
- Fork block
- Ethereum - block 23370000
- Reproduction script
- Not published for this report.
Side Impact!Degraded
Setup. The oracle price is pushed ±30% for one block, or through a flash loan on the source pool.
Recorded result. Oracle stress and flash-loan price impact tested.
- Fork block
- Ethereum - block 23370000
- Reproduction script
- Not published for this report.
Rollover✕Failed
Setup. The main collateral or stablecoin depegs to 0.80 for six hours.
Recorded result. Collateral depeg and liquidation path reviewed.
- Fork block
- Ethereum - block 23370000
- Reproduction script
- Not published for this report.
Rear Impact!Degraded
Setup. 30% of TVL is withdrawn within 24 hours by many addresses.
Recorded result. Exit queue and stressed withdrawal tested.
- Fork block
- Ethereum - block 23370000
- Reproduction script
- Not published for this report.
Findings
- Depositor Protection is the limiting area at 53/100 and sets the rating.
- 0 of five reviewed scenarios held; 5 recorded a degraded or failed result.
- The reviewed deployment spans Ethereum, Arbitrum, BNB and carries an overall weighted score of 59/100.
- The report covers the tested contracts only; integrations outside that scope are not included.
Visual record
Five scenarios.
One verdict.
Verified Resources
Limitations of Assessment
- Scores reflect the deployment and chain set reviewed for this report.
- On-chain metrics are measured at the test block and may move after publication.
- The report covers the tested contracts, not integrations outside that scope.
Member Reports
Test History
| Report | Tested | Version | Stars |
|---|---|---|---|
| CR-1011 | 21 Sept 2026 | v3.3.0 | 2 / 5 |
Protocol badge
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<a href="https://bulwarkproof.tech/ratings/pendle-v2/"><img src="https://bulwarkproof.tech/badge/pendle-v2.svg" alt="BULWARK safety rating: Pendle V2, 2 of 5 stars" width="320" height="112"></a>BULWARK · Tested · Unbuyable · Re-tested