Hyperbeat Credit Fund
About the Protocol
BoringVault credit-fund strategy allocating USDC and beatUSD into Morpho vaults through Hyperbeat's permissioned wrapper and orchestration layer.
Findings (5)
Total assets exclude wrappedBeatUSD held by the orchestrator
The NAV calculation counts beatUSD and Morpho positions but omits wrappedBeatUSD sitting directly in the MorphoV2 orchestrator, understating the vault's assets.
Dynamic slippage protection does not fully prevent sandwich attacks
Mint and burn minimum outputs are derived from the Teller's live rate rather than caller expectations, weakening protection against unfavorable execution.
Morpho vault deployment and integration considerations
Morpho vault integrations require a sufficient dead deposit to prevent inflation attacks and benefit from explicit slippage bounds on allocation flows.
The orchestrator can unwrap HYPE but cannot transfer it
The orchestrator can receive and unwrap native HYPE but has no function for transferring the resulting native balance out.
The orchestrator can send native tokens to a contract that cannot receive them
releaseTokensForWithdrawals(...) can send native HYPE to the withdrawal queue even though that contract has no receive function.
Ready to secure your project?
Get a free 30-minute security assessment. We’ll review your codebase scope and flag the top 3 risk areas.
No commitment required · Typical audits start within 1–2 weeks