K2 SolvBTC / xSolvBTC market
too small to scoreStenion publishes no safety score for K2 SolvBTC / xSolvBTC market — not a low one, not a zero.
One of K2’s three live market routers, holding too little for a score to measure anything — and not named on K2’s own published contracts page.
Below the market-size floor
These markets can be read; there is just almost nothing in them. Scored anyway, every factor would fall to its can’t-assess branch and publish 0 — a number in the danger band, meaning the opposite of what is true. The floor is a precondition on scoring, not a quality bar: it says only that a number was computed from something rather than from nothing.
Why K2 SolvBTC / xSolvBTC market isn’t scored
What we found, stated as what is verified and what is inferred. None of this is a risk finding, and none of it feeds a number.
K2 runs its markets as separate router contracts rather than as configurations inside one pool, the same way Blend’s factory deploys pools. Three are live on mainnet, all deployed from byte-identical code (wasm df2831cf…), sharing one price oracle, one pool admin and one treasury. Stenion scores the primary market; this is one of the two it does not.
It held $3.62 in total priced supplied value when read. Stenion’s market-size floor asks whether a market can hold at least one position the protocol itself considers viable, anchored to the protocol’s own on-chain minimum — Blend’s min_collateral of $5.00, borrowed here as an analogue because K2 declares none on chain, and flagged in METHODOLOGY.md as a judgment call for K2 rather than an anchor. At $3.62 this market cannot host even one such position.
Worth stating separately, because it is the part that took work: this market is not on K2’s published contracts page. That page lists the xSolvBTC market as a set of reserve token addresses with no router among them, and repeats the primary market’s SolvBTC aToken and debt ledger beside them — which reads as though the market sits inside the primary pool. It does not. The router address was not read from any documentation; it came from the pool_address field in the xSolvBTC aToken’s own instance storage, whose State also names it “K2 Iso Interest Bearing SolvBTC” (kiSolvBTC). Calling get_reserve_data for xSolvBTC on the primary router returns Error(Contract, #24) — it is not a reserve there.
Nothing here says the market is unsafe or that anything is hidden. An empty market is an empty market rather than a defective one, and documentation lagging deployment is ordinary. What is reported is that the market exists, that we found it, and that a number computed from $3.62 would be a measurement of absence rather than of risk.
Verify this yourself
Read the instance storage of the xSolvBTC aToken (CBMGL7ZL…HGYJ6JALVY) via Soroban RPC getLedgerEntries and take pool_address from its State — that resolves the router (CCGXGXIL…) in full. Call get_reserves_list on it, then total_supply on each aToken and debt ledger for the balances. Compare against the tables at docs.k2lend.com/contracts.
Figures above read on . Balances change; re-read them rather than relying on this date.
This page is a coverage decision, not an assessment of the protocol’s safety, and nothing on it feeds any score. If K2 SolvBTC / xSolvBTC market becomes scorable, this page goes away in the same change that registers it — it is replaced by a real entry in the registry, with a number derived from its own contracts.
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