DeFiPunk'd

Mellow Protocol

3 deployments · $305.5M aggregate TVL · Onchain Capital Allocator

Deployments

Each deployment is rated independently. Pick one to see its rating, risk analysis, and stage.

TVL $279.4M
Type Onchain Capital Allocator
Chains Ethereum, RSK, Robinhood Chain, Mezo, Monad
View on DeFiLlama ↗
Control criteria
Upgradeability Mixed Bug bounty — Governance forum — Docs docs.mellow.finance
About

Mellow Core provides institutional vault smart contract primitives for onchain capital allocation and yield generation. The protocol enables curators to deploy vaults with explicit risk constraints and defined execution surfaces across multiple EVM chains. Users deposit capital to receive vault shares while curators operate strategies across integrated DeFi protocols (Lido, EigenLayer, Symbiotic, AMMs) within pre-defined onchain constraints.

Risk analysis

One card per dimension, sorted by severity. Only Verifiability and Autonomy carry automated signals in Phase 0. See methodology for scope.

Audit a dimension yourself · DEFI@home Contribute an LLM-run assessment — any model, any dimension. Three agreeing runs merge automatically into the public record.

DEFI@home is a distributed audit network modeled on SETI@home: instead of CPU cycles, it crowdsources LLM reasoning. Paste a slice prompt into Claude, ChatGPT, Gemini, or any browsing-capable model, and submit the JSON output as a pull request. The quorum bot merges it once ≥3 independent runs (from different models) reach the same grade — no single model, and no single contributor, can move the needle alone. How it works →

  • Address discovery 86 addresses on file · 1 run Submit run ↗
  • Verifiability Unverified Submit run ↗
  • Control Unverified Submit run ↗
  • Ability to exit Unverified Submit run ↗
  • Autonomy Unverified Submit run ↗
  • Open Access Unverified Submit run ↗
  • Audit all 5 dimensions · one prompt Submit run ↗
  1. Verifiability tentative
    Open source + 10 audits

    Protocol publishes a GitHub repository and has at least one audit on record. This is a coarse Phase-0 signal only: auditor reputation, scope, and post-audit review coverage are not yet weighted.

    Run your own prompt Submit run ↗
4 dimensions not yet assessed (Control, Ability to exit, Autonomy, Open Access)
  1. Control unknown Unverified
    Not yet assessed

    Who holds admin privileges, how contracts can be upgraded, and how quickly. No automated heuristic grades this at Phase 0; a real assessment arrives when onchain discovery reads roles, owners, and timelocks.

    No model has graded this dimension yet. Run the slice prompt through any LLM and submit the JSON — once ≥3 independent runs agree, the quorum bot merges the verdict here.

    Submit run ↗
  2. Ability to exit unknown Unverified
    Not yet assessed

    Whether users can exit on their own terms if the team disappears or acts adversarially. Requires per-protocol review; not available at Phase 0.

    No model has graded this dimension yet. Run the slice prompt through any LLM and submit the JSON — once ≥3 independent runs agree, the quorum bot merges the verdict here.

    Submit run ↗
  3. Autonomy unknown Unverified
    No Phase-0 autonomy signal

    Neither the category heuristic nor the forkedFrom signal fires for this protocol. A real autonomy graph (oracles, bridges, fallbacks, governance-mutable dependencies) arrives with Phase-2 onchain discovery.

    No model has graded this dimension yet. Run the slice prompt through any LLM and submit the JSON — once ≥3 independent runs agree, the quorum bot merges the verdict here.

    Submit run ↗
  4. Open Access unknown Unverified
    Not yet assessed

    Whether the protocol depends on privileged operators, whitelists, geo-restrictions, or off-chain infrastructure. This is not a signal DeFiLlama carries in a usable form; crawler-based detection lands in a later phase.

    No model has graded this dimension yet. Run the slice prompt through any LLM and submit the JSON — once ≥3 independent runs agree, the quorum bot merges the verdict here.

    Submit run ↗

Stage

Preview of the Phase-3 maturity framework. DeFiPunk'd will adopt DeFiScan v2's stages verbatim; the section is rendered below in its intended shape so the structure is visible today.

Mellow Core has not yet been assessed under the DeFiScan v2 stage framework.
The walkaway test is the central criterion. Once stages land, protocols reach Stage 1 only if users can exit in the presence of malicious operators even when the emergency council disappears.
Scope of assessment
Stages are assessed per-protocol against DeFiScan v2's criteria: governance structure, upgradeability path, timelock durations, emergency-council scope, and the walkaway test. The analysis depends on onchain discovery (roles, owners, timelocks) and deeper review of deployed contracts — neither of which DeFiPunk'd automates at Phase 0.
Stage 0 requirements pending
Governance is largely off-chain, contracts are upgradeable with short or no timelock, and the protocol depends on a multisig or team with full discretion. At Phase 0 DeFiPunk'd does not automatically evaluate these; the assessment lands with crawler-based onchain discovery.
Stage 1 requirements pending
Users can exit or opt out on their own terms even if the team disappears. Upgrades run through a meaningful timelock with an emergency security council clearly scoped. The walkaway test is the headline criterion.
Stage 2 requirements pending
Protocol is fully permissionless and immutable, or upgrades require a supermajority of token holders with a long timelock and no emergency override. This is the terminal stage of the DeFiScan v2 framework.
Learn more about DeFiScan v2 stages →
Stages are an opinionated assessment of maturity, not a rating of security or safety. A protocol can sit at Stage 2 and still carry substantial technical or economic risk; the framework exists to incentivize decentralization, not to rank protocols.

Contract surface

Every contract in scope for this protocol — pooled from DeFiLlama's TVL adapter (mechanical) and DEFI@home discovery submissions (LLM-curated). Verified-source flags come from Etherscan + Sourcify; owner / multisig metadata is read on-chain when available. Reviewer audit context, not a slice score. A lending protocol's adapter set will list third-party collateral tokens alongside its own contracts; attribution is the grader's job.

  • 86addresses
  • 0verified source
  • 0proxies

TVL adapter pinned at 683d369. Sourcecode fetched 2026-05-06. Control fetched 2026-05-07.

Ethereumfactory0x0000…dc72discovery———factory
Ethereumfactory0x0000…639fdiscovery———factory
Ethereumfactory0x04b3…2c61discovery———factory
Ethereumfactory0x2e23…2f1ddiscovery———factory
Ethereumfactory0x41c4…159fdiscovery———factory
Ethereumfactory0x4e38…dee3discovery———factory
Ethereumfactory0x75fe…d011discovery———factory
Ethereumfactory0x77a8…90f8discovery———factory
Ethereumfactory0x952f…45d8discovery———factory
Ethereumfactory0xa51e…e5a0discovery———factory
Ethereumfactory0xaeeb…33c3discovery———factory
Ethereumfactory0xbb92…9854discovery———factory
Ethereumfactory0xe357…1659discovery———factory
Ethereumfactory0xf722…6d45discovery———factory
Ethereumfactory0xfd23…a5b2discovery———factory
Ethereumfactory0xfe76…8421discovery———factory
Ethereumgovernor0x9734…53eadiscovery———governance
Ethereumgovernor0xb379…c80bdiscovery———governance
Ethereumgovernor0xdc9c…2153discovery———governance
Ethereumoracle0x0cdf…aaaddiscovery———oracle
Ethereumoracle0x1a40…cfcfdiscovery———oracle
Ethereumoracle0x624a…5b71discovery———oracle
Ethereumoracle0x7867…c151discovery———oracle
Ethereumoracle0x9d99…b838discovery———oracle
Ethereumvault0x277c…ccc5discovery———vault
Ethereumvault0x5e36…430bdiscovery———token
Ethereumvault0x63a7…ec5cdiscovery———vault
Ethereumvault0x6ec0…5c7ediscovery———vault
Ethereumvault0x7207…f626discovery———vault
Ethereumvault0x7600…bb84discovery———vault
Ethereumvault0x8463…f93adiscovery———vault
Ethereumvault0x99a0…9d7ediscovery———vault
Ethereumvault0x9c95…46cediscovery———vault
Ethereumvault0xa1ee…dd00discovery———vault
Ethereumvault0xa8a3…3f36discovery———vault
Ethereumvault0xa8d3…4c48discovery———vault
Ethereumvault0xbeef…6abcdiscovery———vault
Ethereumvault0xdbc8…fe8ddiscovery———vault
Ethereumvault0xe12e…2657discovery———vault
Ethereumvault0xfa3c…1336discovery———vault
Mezofactory0x0000…aed1discovery———factory
Mezofactory0x0000…4386discovery———factory
Mezofactory0x0d63…67fadiscovery———factory
Mezofactory0x3b62…a449discovery———factory
Mezofactory0x4b2b…5172discovery———factory
Mezofactory0x5310…42d8discovery———factory
Mezofactory0x664b…a461discovery———factory
Mezofactory0x6c3b…aa35discovery———factory
Mezofactory0x7f2f…260ediscovery———factory
Mezofactory0x9022…07a1discovery———factory
Mezofactory0xbc14…1178discovery———factory
Mezofactory0xe4db…13d7discovery———factory
Mezooracle0xbb7e…4492discovery———oracle
Mezovault0x06ed…dcf8discovery———vault
Mezovault0x07af…131bdiscovery———vault
Mezovault0x807d…e0e0discovery———vault
Monadfactory0x0000…467fdiscovery———factory
Monadfactory0x0000…2ebfdiscovery———factory
Monadfactory0x52d5…dda8discovery———factory
Monadfactory0x711f…58d0discovery———factory
Monadfactory0x870d…f923discovery———factory
Monadfactory0x9885…d716discovery———factory
Monadfactory0x9fba…8ae7discovery———factory
Monadfactory0xa64e…0a45discovery———factory
Monadfactory0xafef…5105discovery———factory
Monadfactory0xbbcd…b3dadiscovery———factory
Monadfactory0xc5a5…2698discovery———factory
Monadfactory0xda2a…29f0discovery———factory
Monadfactory0xe08d…27efdiscovery———factory
Monadfactory0xf429…e58cdiscovery———factory
Monadoracle0x727c…0e88discovery———oracle
Monadother0x0000…6351discovery————
Polygonfactory0xd3d0…4e1fdiscovery———factory
Polygongovernor0x6609…6ccediscovery———governance
Polygongovernor0x8ff3…99c6discovery———governance
Polygongovernor0xc128…1f37discovery———governance
Polygonvault0x0b45…315ediscovery———vault
Polygonvault0x13b0…f7ccdiscovery———vault
Polygonvault0x3af5…23aediscovery———vault
Polygonvault0xb376…b516discovery———vault
Polygonvault0xca7e…c66ddiscovery———vault
Rootstockoracle0x4652…bddbdiscovery———oracle
Rootstockother0x3075…4e37discovery————
Rootstockother0x7011…7229discovery————
Rootstockother0xafb0…48c5discovery————
Rootstockvault0x97bb…42ebdiscovery———vault

Protocol Info

Links

[defillama] Source: DeFiLlama [:] Source: DEFI@home quorum
Twitter
@mellowprotocol

Security

[defillama] Source: DeFiLlama
Audits
5 audits
Bug bounty
unknown
Security contact
unknown

Technical

[:] Source: DEFI@home quorum
Upgradeability
Mixed (some immutable, some upgradeable)

Provenance

[defillama] Source: DeFiLlama
Review status
listed
Updated
2026-09-28 12:50 UTC