Venus vs Fluid (Instadapp) Venus leads by 8 points.
Venus scores 8 points above Fluid (Instadapp), led by oracle liquidation price, rate authorship, and shortfall record. Venus ranks #1 and Fluid (Instadapp) #7 of 8 published lending & borrowing. Every term of the gap is on the ledger below; the inputs are on the audit receipt.
VEVenus81
vs
Fluid (Instadapp)73
Scores are out of 100; published scores fall within 41–99 · ranks #1 and #7 of 8
Venus scores 8 points above Fluid (Instadapp), led by oracle liquidation price, rate authorship, and shortfall record.
VEVenus #1 of 881
Fluid (Instadapp) #7 of 873
Scores are out of 100; published scores fall within 41–99; a bar is empty at 41 and full at 99.
Why, term by termVenus leads on 3 of 4 published criteria; Fluid (Instadapp) on 1. The terms sum to the gap.
TermVenusFluid (Instadapp)WeightPoints
Oracle liquidation price9/106/107.7+6.0for Venus+3.1 of 32
Blast radius7/108/105.8−1.5for Fluid (Instadapp)−0.8 of 32
Rate authorship9/108/105.8+1.5for Venus+0.8 of 32
Shortfall record9/107/104.8+2.5for Venus+1.3 of 32
Net of the terms+8.5
Criteria roundingThe criteria block is rounded to whole points before it is spread−0.2
Reproduced gap+8.3
Published gapAfter score rounding and bounds — see the note below8173+8.0
Weight is in points of the 86-point weighted total. Points are score points of the gap between the two.
VenusScore 81A shared-pool onchain money market whose BNB Chain book is 99.5% of the protocol and where, for that book, Venus publishes per-market oracle tiers with numeric cross-source bounds and links each tier to its deployed oracle contract - while its own forum carries dated, quantified post-mortems of the four times it lost lender money, including admissions its docs never repeat.Strength: Oracle liquidation price — 9/10Watch-out: Read https://docs-v4.venus.io/guides/isolated-pools-deprecation before you deposit - 'Venus isolated pools have been fully deprecated' - and then re-read the risk documentation knowing that. Almost everything Venus publishes about containing a loss automatically (the Shortfall auction, now paused - 'auctionsPaused() returned true' at a 27 Aug 2026 snapshot - and the healAccount write-off that 'records borrowBalance - actualRepayAmount as market badDebt') is scoped to those retired pools, and the risk-fund page, rewritten about a month before the 2026-09-28 read, says 'There is no universal on-chain function that automatically applies RiskFundV2 to every Venus bad-debt balance. Core Pool and isolated-pool accounting differ'. The FAQ still advertises isolated pools as preventing 'failures in one market from impacting others'. In practice a Core deficit is repaired only when governance votes to repair it from the Risk Fund - which it has done, twice, in full (VIP-564 2025-11-07, VIP-604 2026-03-30) - but that is a discretionary act, not a waterfall; the fund is on the order of 1% of Core debt, its balance is published nowhere, and the same page now calls it 'protocol-controlled funds allocated by governance; they are not a per-user insurance policy'. Second thing to read, and it is the one a leveraged holder underweights: the deprecation guide states that a missing price on any market in your position can block the exit - redeeming or calling exitMarket 'causes the Comptroller to check the account across all currently listed entered markets in that pool', and if the oracle 'still cannot produce a valid price for any required market, the operation can revert. exitMarket performs the same full-balance redeem check and generally cannot bypass that condition.' Third: the THE post-mortem concedes the published band did not stop the March 2026 attack - 'the BoundValidator reverted for approximately 37 minutes' and then accepted the manipulated price (THE carries the 1.05/0.95 band on the oracle table). The bounds are real, numeric and better disclosed than most of this pool, but they are a cross-source sanity check, not a manipulation-proof price.Fluid (Instadapp)Score 73Shared-liquidity money market where collateral and debt can sit inside a Fluid DEX position; publishes per-vault oracle contract, LTV, liquidation threshold, penalty and absorbed bad debt live via its own API, and disclosed a ~$21M Resolv-driven shortfall (incident 22 Mar 2026) on its governance forum in amounts its own marketing recap then restates as $9.7M and attributes to the wrong payer.Strength: Rate authorship — 8/10Watch-out: Read the Resolv post-mortem on the governance forum, not the recap on the blog — they do not agree, and each omits what the other has. https://gov.fluid.io/t/post-mortem-treasury-actions-and-forward-strategy-following-resolv-incident/1774 (11 May 2026) states 'Fluid incurred ~$21M in bad debt due to the Resolv incident' and splits the remaining ~$19.3M as ~$9.7M Resolv / ~$8.2M Fluid governance treasury / ~$1.5M team, but never dates the event. The H1 2026 recap on fluid.io (5 Aug 2026) dates it — 'On March 22nd, a malicious actor gained unauthorized access to Resolv's signing infrastructure, minting approximately $80M of uncollateralized USR' — then restates the loss as 'The resulting shortfall — about $9.7M, or roughly 10% of total exposure — was covered directly from the DAO treasury.' That figure is Resolv's share presented as the whole loss and attributed to the wrong payer, at under half the number Fluid gave its own DAO. The mechanism that produced it is still the one you are underwriting: Fluid's own risk page says the oracle takes a Uniswap TWAP, runs a 'difference check' against Chainlink and falls back 'If the TWAP is within parameters' without ever stating what those parameters are; 'heartbeat' appears on none of the 46 pages of Fluid's buyer-facing GitBook and only as an unvalued rebalance condition in its autogenerated contract docs; and the one numeric deviation figure Fluid has published — 'revert all operates if deviation > 2%' — is by its own wording operate-only and therefore does not constrain the price that liquidates you.
Quick facts
At a glance
3 of 4 rows read the same for both.
FactVenusFluid (Instadapp)
PricingSnapshotVenus takes no deposit, withdrawal or curator fee on a direct Core supply; the protocol's take is each market's reserve factor. The Interest Rate Model page (https://docs-v4.venus.io/risk/interest-rate-model, fetched 28 September 2026) defines it inside the supply-rate formula - "For those models, if r_b is the borrow rate per slot and f is the reserve factor" - and states that it publishes no per-market value: "This is a model-selection overview, not a per-market configuration registry." The live values are API fields, not page text: https://api.venus.io/markets?chainId=56 on 28 September 2026 returned reserveFactorMantissa of 0.1 for USDT and USDC, 0.2 for ETH and 0.3 for BTCB and BNB, the largest BNB Core markets by borrows. The sentence this note carried until now (the old glossary definition of the reserve factor) is no longer on that page, which was rewritten about a month before this read.Fluid's guides publish no fee schedule for lenders or borrowers; the costs are the floating rate and, if liquidated, a per-vault liquidation penalty. The Liquidity Layer page (https://fluid.guides.instadapp.io/liquidity-layer/unifying-liquidity, fetched 28 September 2026) states: "Fluid boasts the most advanced liquidation mechanisms, with penalties as low as 0.1%." The live penalties and rates are API fields, not page text: https://api.fluid.instadapp.io/v2/borrowing/1/vaults on 28 September 2026 returned liquidationPenalty 10 basis points (the 0.1% floor) on the wstETH/ETH vault (id 13) and 100 basis points on the ETH/USDC (id 11) and ETH/USDT (id 12) vaults, with borrow rates of 243, 584 and 567 basis points and a vault feeRate of 0 on all three. Rates float with utilisation, so no fixed APY is quoted.
Asset coverageEditorial——
Region fitSnapshotglobalglobal
Custody modelEditorialNon-custodial: no company holds the coinsNon-custodial: no company holds the coins
From the published criteria
Which should you pick?
VE
Venus
81#1 of 8
Leads
Pick it when
Pick Venus if oracle liquidation price matters most — it scores 9/10 to Fluid (Instadapp)'s 6/10 there (weight 32).
Strength
Oracle liquidation price — 9/10
Tradeoff
Read https://docs-v4.venus.io/guides/isolated-pools-deprecation before you deposit - 'Venus isolated pools have been fully deprecated' - and then re-read the risk documentation knowing that. Almost everything Venus publishes about containing a loss automatically (the Shortfall auction, now paused - 'auctionsPaused() returned true' at a 27 Aug 2026 snapshot - and the healAccount write-off that 'records borrowBalance - actualRepayAmount as market badDebt') is scoped to those retired pools, and the risk-fund page, rewritten about a month before the 2026-09-28 read, says 'There is no universal on-chain function that automatically applies RiskFundV2 to every Venus bad-debt balance. Core Pool and isolated-pool accounting differ'. The FAQ still advertises isolated pools as preventing 'failures in one market from impacting others'. In practice a Core deficit is repaired only when governance votes to repair it from the Risk Fund - which it has done, twice, in full (VIP-564 2025-11-07, VIP-604 2026-03-30) - but that is a discretionary act, not a waterfall; the fund is on the order of 1% of Core debt, its balance is published nowhere, and the same page now calls it 'protocol-controlled funds allocated by governance; they are not a per-user insurance policy'. Second thing to read, and it is the one a leveraged holder underweights: the deprecation guide states that a missing price on any market in your position can block the exit - redeeming or calling exitMarket 'causes the Comptroller to check the account across all currently listed entered markets in that pool', and if the oracle 'still cannot produce a valid price for any required market, the operation can revert. exitMarket performs the same full-balance redeem check and generally cannot bypass that condition.' Third: the THE post-mortem concedes the published band did not stop the March 2026 attack - 'the BoundValidator reverted for approximately 37 minutes' and then accepted the manipulated price (THE carries the 1.05/0.95 band on the oracle table). The bounds are real, numeric and better disclosed than most of this pool, but they are a cross-source sanity check, not a manipulation-proof price.
Fluid (Instadapp)
73#7 of 8
Pick it when
Pick Fluid (Instadapp) if blast radius matters most — it scores 8/10 to Venus's 7/10 there (weight 24).
Strength
Rate authorship — 8/10
Tradeoff
Read the Resolv post-mortem on the governance forum, not the recap on the blog — they do not agree, and each omits what the other has. https://gov.fluid.io/t/post-mortem-treasury-actions-and-forward-strategy-following-resolv-incident/1774 (11 May 2026) states 'Fluid incurred ~$21M in bad debt due to the Resolv incident' and splits the remaining ~$19.3M as ~$9.7M Resolv / ~$8.2M Fluid governance treasury / ~$1.5M team, but never dates the event. The H1 2026 recap on fluid.io (5 Aug 2026) dates it — 'On March 22nd, a malicious actor gained unauthorized access to Resolv's signing infrastructure, minting approximately $80M of uncollateralized USR' — then restates the loss as 'The resulting shortfall — about $9.7M, or roughly 10% of total exposure — was covered directly from the DAO treasury.' That figure is Resolv's share presented as the whole loss and attributed to the wrong payer, at under half the number Fluid gave its own DAO. The mechanism that produced it is still the one you are underwriting: Fluid's own risk page says the oracle takes a Uniswap TWAP, runs a 'difference check' against Chainlink and falls back 'If the TWAP is within parameters' without ever stating what those parameters are; 'heartbeat' appears on none of the 46 pages of Fluid's buyer-facing GitBook and only as an unvalued rebalance condition in its autogenerated contract docs; and the one numeric deviation figure Fluid has published — 'revert all operates if deviation > 2%' — is by its own wording operate-only and therefore does not constrain the price that liquidates you.
Self-identify in 10 seconds
Which one is actually for you?
VEVenusLeads
Choose Venus if oracle liquidation price matters most
Oracle liquidation price: 9/10 against 6/10 for Fluid (Instadapp) (weight 32)
Rate authorship: 9/10 against 8/10 for Fluid (Instadapp) (weight 24)
Shortfall record: 9/10 against 7/10 for Fluid (Instadapp) (weight 20)
VenusScore 81A shared-pool onchain money market whose BNB Chain book is 99.5% of the protocol and where, for that book, Venus publishes per-market oracle tiers with numeric cross-source bounds and links each tier to its deployed oracle contract - while its own forum carries dated, quantified post-mortems of the four times it lost lender money, including admissions its docs never repeat.Strength: Oracle liquidation price — 9/10Watch-out: Read https://docs-v4.venus.io/guides/isolated-pools-deprecation before you deposit - 'Venus isolated pools have been fully deprecated' - and then re-read the risk documentation knowing that. Almost everything Venus publishes about containing a loss automatically (the Shortfall auction, now paused - 'auctionsPaused() returned true' at a 27 Aug 2026 snapshot - and the healAccount write-off that 'records borrowBalance - actualRepayAmount as market badDebt') is scoped to those retired pools, and the risk-fund page, rewritten about a month before the 2026-09-28 read, says 'There is no universal on-chain function that automatically applies RiskFundV2 to every Venus bad-debt balance. Core Pool and isolated-pool accounting differ'. The FAQ still advertises isolated pools as preventing 'failures in one market from impacting others'. In practice a Core deficit is repaired only when governance votes to repair it from the Risk Fund - which it has done, twice, in full (VIP-564 2025-11-07, VIP-604 2026-03-30) - but that is a discretionary act, not a waterfall; the fund is on the order of 1% of Core debt, its balance is published nowhere, and the same page now calls it 'protocol-controlled funds allocated by governance; they are not a per-user insurance policy'. Second thing to read, and it is the one a leveraged holder underweights: the deprecation guide states that a missing price on any market in your position can block the exit - redeeming or calling exitMarket 'causes the Comptroller to check the account across all currently listed entered markets in that pool', and if the oracle 'still cannot produce a valid price for any required market, the operation can revert. exitMarket performs the same full-balance redeem check and generally cannot bypass that condition.' Third: the THE post-mortem concedes the published band did not stop the March 2026 attack - 'the BoundValidator reverted for approximately 37 minutes' and then accepted the manipulated price (THE carries the 1.05/0.95 band on the oracle table). The bounds are real, numeric and better disclosed than most of this pool, but they are a cross-source sanity check, not a manipulation-proof price.
Fluid (Instadapp)
Choose Fluid (Instadapp) if blast radius matters most
Blast radius: 8/10 against 7/10 for Venus (weight 24)
Fluid (Instadapp)Score 73Shared-liquidity money market where collateral and debt can sit inside a Fluid DEX position; publishes per-vault oracle contract, LTV, liquidation threshold, penalty and absorbed bad debt live via its own API, and disclosed a ~$21M Resolv-driven shortfall (incident 22 Mar 2026) on its governance forum in amounts its own marketing recap then restates as $9.7M and attributes to the wrong payer.Strength: Rate authorship — 8/10Watch-out: Read the Resolv post-mortem on the governance forum, not the recap on the blog — they do not agree, and each omits what the other has. https://gov.fluid.io/t/post-mortem-treasury-actions-and-forward-strategy-following-resolv-incident/1774 (11 May 2026) states 'Fluid incurred ~$21M in bad debt due to the Resolv incident' and splits the remaining ~$19.3M as ~$9.7M Resolv / ~$8.2M Fluid governance treasury / ~$1.5M team, but never dates the event. The H1 2026 recap on fluid.io (5 Aug 2026) dates it — 'On March 22nd, a malicious actor gained unauthorized access to Resolv's signing infrastructure, minting approximately $80M of uncollateralized USR' — then restates the loss as 'The resulting shortfall — about $9.7M, or roughly 10% of total exposure — was covered directly from the DAO treasury.' That figure is Resolv's share presented as the whole loss and attributed to the wrong payer, at under half the number Fluid gave its own DAO. The mechanism that produced it is still the one you are underwriting: Fluid's own risk page says the oracle takes a Uniswap TWAP, runs a 'difference check' against Chainlink and falls back 'If the TWAP is within parameters' without ever stating what those parameters are; 'heartbeat' appears on none of the 46 pages of Fluid's buyer-facing GitBook and only as an unvalued rebalance condition in its autogenerated contract docs; and the one numeric deviation figure Fluid has published — 'revert all operates if deviation > 2%' — is by its own wording operate-only and therefore does not constrain the price that liquidates you.
Criterion by criterion
Scorecard
Published criteria · weight in points of 868 of 8 cells scored. Strength is read from the evidence file; the weight is the published one. Methodology
Oracle liquidation price
by 3 of 10weight 7.7 of 86Venus leads
Venus9/10 out of 10
Fluid (Instadapp)6/10 out of 10
Rate authorship
by 1 of 10weight 5.8 of 86Venus leads
Venus9/10 out of 10
Fluid (Instadapp)8/10 out of 10
Blast radius
by 1 of 10weight 5.8 of 86Fluid (Instadapp) leads
Venus7/10 out of 10
Fluid (Instadapp)8/10 out of 10
Shortfall record
by 2 of 10weight 4.8 of 86Venus leads
Venus9/10 out of 10
Fluid (Instadapp)7/10 out of 10
Score dimensions
weights sum to 86
The published score is five dimensions, each weighted for the category. "Published criteria" is the criteria block above; the other four are the engine's own terms — availability, friction, trust record, measured data. Each bar is one side's points out of that dimension's maximum; the weight beside the name is its points of the 86-point weighted total. The published criteria above can fill 24 of the block’s 30. A weight marked “constant here” belongs to a dimension every ranked product in the category holds at the same value: it still counts in the total, and it orders nothing here.
Availabilityweight 20 of 86 · constant here
Venus14/20Fluid (Instadapp)14/20
Tie
Published criteriaweight 30 of 86
Venus20.4/30Fluid (Instadapp)17.2/30
Venus leads
Frictionweight 10 of 86 · constant here
Venus2.7/10Fluid (Instadapp)2.7/10
Tie
Trust recordweight 8 of 86 · constant here
Venus3.2/8Fluid (Instadapp)3.2/8
Tie
Measured dataweight 18 of 86 · constant here
Venus8.3/18Fluid (Instadapp)8.3/18
Tie
Decision rulePublished order
Choose Venus unless the term Fluid (Instadapp) leads on is the one you are buying.
Pick Fluid (Instadapp) if blast radius matters most — it scores 8/10 to Venus's 7/10 there (weight 24).
The published order weighs every criterion the same way for everyone. To weigh them your way, run .
From the published order
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If this isn't your case
Other matchups worth comparing
How you can lose money here, and what the ranking scores
Control failure: a key or vote changes the rules, freezes or mints.
Scored by Who sets your rate — a utilisation curve or a curator? · 24% (Venus 9/10, Fluid (Instadapp) 8/10)
Oracle failure: a wrong price or outcome liquidates or settles a position.
Scored by What price gets you liquidated, and how far can it drift? · 32% (Venus 9/10, Fluid (Instadapp) 6/10)
Insolvency failure: the firm or issuer that owes you cannot pay.
Scored by If one market goes bad, how much of yours goes with it? · 24% (Venus 7/10, Fluid (Instadapp) 8/10)
Scored by Has it lost lender money before, and did it publish it? · 20% (Venus 9/10, Fluid (Instadapp) 7/10)
Not assessed by this ranking: Contract failure, Regulatory failure, Execution failure, Exit failure. A high place says nothing about these; the Methodology tab says what each means.
Questions
Frequently asked questions
Venus scores 8 points above Fluid (Instadapp), led by oracle liquidation price, rate authorship, and shortfall record. Published scores, out of 100: Venus 81 (rank 1 of 8 lending & borrowing), Fluid (Instadapp) 73 (rank 7 of 8).
Reviewed means both products compared here was read against its sources on or after that date; every ranked category is re-read at least every 45 days. Models research, extract and parse. A deterministic engine ranks. Every quote passes an adversarial refute pass.
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