Rhea Lend
Research, firm shelf, model-client eligibility, and advisor selection are recorded separately. The scheduled date is the outside bound; new evidence can reopen the file sooner.
Rhea Lend is outside the current firm shelf because its structure maps to the rejected-chain policy class. This is a firm-policy classification, not an adverse quality rating and not a client trade instruction. The factual mechanism, control, loss, and exit evidence is retained below.
- Deploys meaningful liquidity on a chain the registry approves
- The Near verdict changes
The research file
Mechanism and applicability
Rhea Lend is ’the first and most trusted money market on cross-chain’ in Rhea’s words; its audit links still point at the NearDeFi burrowland repository, which identifies it as Burrow. Six stablecoin supply markets (USDC, USDT, DAI, FRAX and bridged variants) held about $2.2M of the $171M of reported protocol TVL at review. Suppliers earn borrower interest on NEAR.
Control and incident boundary
Two BlockSec audits of burrowland are published. The registry’s NEAR grade records that protocol versions activate through client adoption by the top 100 block producers, that the 2025 inflation change shipped after a failed community vote, and that the Ethereum exit is Omni Bridge over an MPC set and Wormhole.
Exit and current measurement
A supplier withdraws only while the market has cash and only onto NEAR; leaving NEAR requires the bridge path the chain grade describes.
Firm shelf classification
The rejected-chain class is outside the current firm shelf. Research describes the product; firm policy determines shelf eligibility; client constraints determine the candidate set; and the advisor alone selects any action or amount.
Sources
The claims above trace to these. Where a number could not be independently verified, the thesis says so.
- Rhea Finance — product overview · primary · accessed 2026-09-22
Supports: money market on cross-chain, NEAR chain, no terms or entity disclosure - NearDeFi burrowland — BlockSec audit 1 · primary · accessed 2026-09-22
Supports: Burrow lineage, BlockSec audit - DefiLlama — Rhea Lend protocol data · secondary · accessed 2026-09-22
Supports: Lending category, Near only, reported TVL
Inherited controls
The research above describes the protocol layer. Every position also inherits the asset it holds and the chain it settles on. The most administered layer sets the position’s effective control grade; that is a control description, not a quality or suitability score.
| Chain | Verdict | Grade | Control constraint |
|---|---|---|---|
| NEAR Protocol | Adverse | hybrid | upgrade authority sits with whoever cuts the nearcore release and the 100 block producers who adopt it; the bridge exit depends on an MPC set and Wormhole, not on NEAR consensus alone. |