What is Ozone
Ozone is Bitpulse's real-time risk intelligence platform for institutional DeFi. It monitors on-chain lending vaults across Morpho, AAVE, and Maple Finance and surfaces a single composite risk score — the Ozone Score — alongside granular market, oracle, and smart contract risk metrics.
Throughout this documentation, vault is the standard term for a lending position container. Each protocol uses its own naming internally:
| Protocol | Protocol term(s) | Ozone UI label |
|---|---|---|
| Maple Finance | Pool | Vault |
| Morpho | Market, MetaMorpho Vault | Vault |
| AAVE V3 | Reserve | Market |
When you see "vault" in these docs, it refers to whichever construct applies to the protocol in context. For AAVE, the Ozone UI uses "Market" to align with AAVE's terminology. See the Glossary for full definitions.
The problem it solves
Institutional teams allocating capital into DeFi lending vaults face three structural gaps:
- Fragmented data — risk signals are spread across on-chain explorers, protocol dashboards, and off-chain analytics tools with no unified view.
- Lagging signals — most dashboards show yesterday's state. DeFi risk moves in hours.
- Missing methodology — aggregate TVL and yield figures tell you what happened. They don't tell you what the probability of a bad outcome is.
Ozone addresses all three: unified view, real-time snapshots, and a quantified risk model behind every score.
What Ozone monitors
Ozone tracks three categories of vault risk:
Market Risk
Liquidity concentration, redemption capacity, and withdrawal depth — scored at vault and address level using Nakamoto coefficient, Max Power Ratio, HHI, Gini coefficient, and Daily Amihud illiquidity. Detects when a single entity can drain a vault overnight.
Oracle Risk
Price feed reliability scored at three levels: individual oracle contract, lending market (geometric mean across feeds), and vault (allocation-weighted average). Evaluates feed architecture (Chainlink V2, ERC-4626 vault rates, upgradeable proxies), governance surface, and multi-hop dependency risk. A single weak feed in a price chain degrades the entire market oracle score.
Smart Contract Risk
Ozone scores the code itself, contract by contract. We look at who can change the contract, who can move funds, how well it has been audited, and how it behaves under structured stress. Each scored contract gets a grade, and the grades roll up to one number per protocol, weighted by how much damage that contract could do if it failed.
The Ozone Score
Each vault receives a composite Ozone Score from 0–10, where lower is riskier. The score is a geometric composite of the three risk dimensions above.
See How Ozone Scores Work for methodology details including exact weights and formulas.
Coverage
Ozone currently monitors lending vaults across:
- Morpho — Morpho Market and vaults on Ethereum
- AAVE V3 — lending markets on Ethereum
- Maple Finance — institutional lending vaults
Coverage expands as protocols are onboarded.
Access
Ozone is currently in private beta for institutional clients. To request access, visit ozone.bitpulse.io or contact the Bitpulse team at support@bitpulse.io.