Degen ETH
About
dgnETH is a yield-generating Ethereum token built on the Reserve protocol that provides diversified exposure to multiple DeFi yield strategies. It's designed for users seeking enhanced ETH yield through automated strategy allocation across selected DeFi protocols.
Where Does Yield Come From?
dgnETH is a token that earns yield on Ethereum. When you exchange your ETH for dgnETH, your funds are automatically spread across several different yield‑earning strategies in decentralized finance (DeFi).
The protocol picks a mix of strategies for you, including:
- Providing liquidity in an ETH+/ETH trading pair (earning fees from traders),
- Depositing into the Re7 WETH Vault (an automated strategy that seeks yield),
- And holding Wrapped OETH (another yield‑bearing token).
These strategies earn returns through activities like liquidity provision (helping trades happen) and automated vault strategies that farm rewards.
dgnETH itself doesn’t pay staking rewards. Instead, it represents your share of the underlying yield‑generating positions. The value of each dgnETH token grows over time as the underlying strategies accumulate yield.
Persons
0xSleepy
Deployer
ham
Degen ETH RToken Champion
Audits
| Audit / Date | Findings | Verdict |
|---|---|---|
Trust Security16-12-2024 - 24-12-2024 |
| The audit identified critical logic bugs that were promptly fixed, but numerous medium and low severity issues remain open, requiring careful consideration of trading mechanisms, ERC20 compatibility, and governance risks before production deployment. |
Cantina13-01-2025 - 20-01-2025 |
| The audit uncovered no critical or high-severity issues, with two medium-risk findings focused on bid manipulation and trade conflict prevention that require attention before deployment to ensure proper auction mechanics. |
Trail of Bits18-04-2025 |
| The audit revealed several medium-severity issues in slippage protection, denial-of-service vectors, and token compatibility, with four findings resolved and five accepted as risk by the Reserve team, indicating residual operational risks but no critical vulnerabilities. |
Pashov Audit Group02-06-2025 - 11-06-2025 |
| The audit identified one medium-severity denial-of-service vulnerability and several low-severity edge cases, with all medium issues resolved before deployment. Overall security posture appears reasonable with no critical or high-risk findings reported. |
Trail of Bits30-05-2022 - 24-06-2022 |
| The audit revealed multiple high-severity vulnerabilities in auction mechanisms and access controls that could compromise system functionality, though the protocol team has an opportunity to address these critical issues before production deployment. Extensive remediation and additional testing are recommended to ensure safe operation. |
Solidified16-10-2022 |
| The audit uncovered critical security flaws in issuance cancellation and reentrancy, with one fixed and others acknowledged, alongside design concerns about governance flexibility and collateral liquidity that warrant ongoing attention. |
| The audit found no critical vulnerabilities, with three medium-severity issues addressed or acknowledged, indicating the protocol's code quality is solid and the architecture is well-designed for security. | |
Halborn28-08-2022 - 10-10-2022 |
| The audit found no critical flaws, only low-risk parameter validation issues and informational gas optimizations, all of which were remediated by the Reserve team prior to the report's finalization. |
Code4rena06-01-2023 - 20-01-2023 |
| The audit revealed significant risks in collateral management and redemption mechanics, with two high-severity vulnerabilities requiring immediate mitigation. Overall, the protocol's security posture requires careful remediation of identified issues before safe deployment. |
Code4rena15-06-2023 - 29-06-2023 |
| This audit reveals significant risks in the Reserve Protocol's redemption mechanisms and staking system, with two high-severity vulnerabilities that could disrupt core functionality or cause financial losses to stakers. While many medium-severity issues were identified, the protocol team has acknowledged and begun mitigation for most findings. |
Code4rena25-07-2023 - 04-08-2023 |
| The audit revealed critical mispricing vulnerabilities in staked ETH collateral assets and significant curve pool manipulation risks, though most high-severity issues were mitigated post-audit. The protocol retains residual medium-severity design risks around oracle dependencies and complex collateral integrations that require careful configuration management. |
Trust Security02-01-2024 |
| The audit revealed several critical design flaws including reward theft vectors and permission issues, with most high and medium findings addressed by the team before finalization. Two high-severity issues remained open regarding reward distribution fairness in Morpho and Curve gauge wrappers, representing residual risk for users of those specific collateral plugins. |
Trust Security27-01-202423-02-2024 |
| The audit identified one critical calculation error that was fixed, but a medium-severity issue regarding basket reweighting remains open, posing potential revenue leakage risks. Overall code quality was rated excellent with good documentation and practices, though systemic risks around governance and oracle dependencies require ongoing attention. |
Solidified25-04-2024 |
| The audit found no critical or high-severity vulnerabilities, with all medium issues documented for resolution, indicating generally robust security posture for the Reserve Protocol implementation. |
Trust Security02-05-2024 |
| The audit found only one low-severity issue that was promptly fixed, though it highlights systemic trust risks in MetaMorpho vault governance and provides several recommendations for improved code quality and risk management. |
Trust Security24-05-2024 |
| The audit found no critical or high-severity vulnerabilities, with one medium and several low-severity issues mostly resolved before deployment, indicating a generally secure upgrade spell with appropriate edge-case considerations. |
Solidified06-06-2024 |
| The audit identified no critical vulnerabilities, with only minor code quality and documentation issues acknowledged, indicating a relatively secure codebase for the Reserve Protocol version 3.4.0. |
Trust Security11-07-2024 |
| This audit revealed only low-severity configuration parameter issues in collateral plugins, with all findings either fixed or acknowledged, indicating the plugins maintain robust security posture for the Reserve Protocol. |
Trust Security01-06-2024 - 03-07-2024 |
| The audit uncovered one critical reentrancy vulnerability and several medium-to-low issues, all of which were addressed with fixes or documented mitigations, indicating thorough remediation before deployment. The Reserve Protocol's ETH+ LP plugin demonstrates improved security posture with no open critical or high severity issues remaining. |
Legal
Status and notes
DgnETH is built on Reserve Protocol; Reserve Protocol operated by ABC Labs, LLC (limited liability company) per reserve.org terms. No imprint, terms, or privacy pages found on degeneth.com.