About · snapshot
About & disclosure
Who runs this site, where the numbers come from, how it is paid for and how errors are corrected.
Who runs it
Underkeel is run by Dmitrii Luzin, an independent developer. I also run liquidation bots on Base, so I may profit from liquidations in the markets measured here. That is a conflict of interest, and I would rather you read it here than find it. You do not have to trust me: every number is repeatable from public data (Method, Data), and every snapshot is a commit in a public repository.
What the site does not publish
Borrower addresses, my own positions, bots or strategies. It publishes market-wide measurements only.
Money
Underkeel has no token and no sponsor. Its costs are a domain, free static hosting and the operator's time. If it receives a grant or fees from a protocol, a curator or any market participant, the source, the amount and the date will be listed here.
Paid work
One service: an exit-risk review of a curator's markets (Services). A review is private to the client and never changes the public numbers; a client cannot buy a different measurement of its market. Clients are named here only with their consent.
Why "Underkeel"
Under-keel clearance is the water left between a ship's keel and the seabed. Underkeel measures the same margin for a lending market: the liquidation bonus minus the cost of selling the collateral.
Data sources and terms
- Exit quotes: the KyberSwap Aggregator public API, best route on Base for each size, with and without RFQ quotes.
- Markets, prices and positions: the Morpho API.
- Liquidations: Morpho Blue events on Base, read from the chain.
Each source's terms apply to what is derived from it. The numbers are measurements of public data at the snapshot time; how each one is made is on the Method page, the files on Data.
Independence, not investment advice
Not affiliated with Morpho, Base, KyberSwap or Chainlink. Informational only. Nothing on this site is a recommendation to supply, borrow, liquidate or change a market's parameters. Exit costs are a snapshot: in a fast market they rise exactly when liquidations are needed.
Corrections
No corrections yet.
Every correction is listed here with its date: what was shown, what is right, which snapshots and pages it touched, and when it was fixed. Published JSON files are not rewritten; the history stays in git.
Found an error? Telegram @dimanoshe · email hello@underkeel.xyz. Every report gets a reply within 2 days.