The latest survey.
Solid passages are pinned to a transaction and log index. Dashed passages are unsurveyed. Drag from any station to add the next one.
No trace has been poured on Arc yet. The first survey starts with one address.
The yield chain itself as a draggable node graph: sinkhole position, borrow passages, use-of-funds chambers and repayer springs, each edge pinned to an Arc tx hash and log index or drawn dashed as unsurveyed.
No loop found in surveyed passages. Dark passages can still hide one.
Spring or siphon.
If the thread reaches the sinkhole again, the yield is paid from the position itself. The ring closes at the block where that happened.
No trace is long enough to check. A siphon needs at least a borrow and a repayment.
Pick a trace to checkUnsurveyed past this point.
These passages have no pinned call yet. Bring a tx hash and log index, sign the station, and the dash turns solid.
Every known passage is surveyed. Pour dye somewhere new.
Knots and rockfalls.
Tie a knot
Confirm a link another surveyor pinned.
Call rockfall
Dispute a link with a reason and a source call.
The water table is dropping.
CeDeFi TVL fell 6.7% in seven days across seven protocols, $0.22B. Yields that sat on those desks are finding new sources.
CeDeFi: -6.7% TVL in 7 days (7 protocols, $0.22B)
Live trend — no single date
Observed live in the latest scan across 1 source(s).
Recent sinkholes.
Every position someone has poured dye into, newest first, fifty at a time.
ST.7 — SPRINGDye out.
Hydrologists find a spring by pouring dye upstream. A station counts only when it names the call that moved the money.
Follow the leave routeIf a trace closes into itself, the leave route opens the protocol's own withdraw — never a transaction this site sends for you.
Watch a sinkhole.
Watched traces show new stations, disputes and Borrow logs since your last visit. The list stays in this browser.
You are not watching any sinkhole. Watch one from its trace.
Borrow tape, Arc.
Borrow and Repay logs read straight from Arc. Pour dye into any row to start a trace there.
Reads Borrow and Repay logs from Arc lending markets through a server route (viem), newest first, 50 rows per page.Stale — arc-rpc:morpho-borrow-logs: HTTP request failed. Status: 429 URL: https://rpc.mainnet.arc.io Request body: {"method":"eth_getLogs","params":[{"address":"0x34CD04070dD72b14E241112F6d83812Df5Af7fCD","topics":["0x570954540bed6b1304a87dfe815a5eda4a648f7097a16240dcd85c9b5fd42a43"],"fromBlock":"0x1455ac2","toBlock":"0x1456e4a"}]} Details: {"code":-32005,"message":"rate limit exceeded"} Version: viem@2.21.54
Dyetrace reads Borrow, Repay and Transfer logs from Arc’s public RPC. A passage is solid only when it names a transaction hash and log index that moved the money; anything else is drawn dashed as unsurveyed. Surveyors add, confirm or dispute links by signing a typed message with their wallet; no transaction is sent and no funds are held. A siphon is a cycle in the surveyed graph that returns to the starting position, detected with a strongly connected components pass. Dyetrace does not see offchain desks, bridges it cannot read, or intentions; those passages stay dark until someone pins a call. It does not rate yields and does not tell anyone to stay or leave.