> ## Documentation Index
> Fetch the complete documentation index at: https://docs.vanna.finance/llms.txt
> Use this file to discover all available pages before exploring further.

# Risk Explorer

> Stress the live Stellar margin accounts with price, depeg, rate and protocol shocks. Read-only.

**Analytics → Risk Explorer** runs stress tests against the **live** margin accounts: baseline bad debt, a stress heatmap, presets and manual shocks. Changing a scenario never trades, moves an oracle price or liquidates anyone. Nothing is sent to the chain.

## Scenario library

| Category | Scenario | What it tests |
| - | - | - |
| Market risk | **Single Asset Risk Explorer** | One asset's price drop across every position holding or owing it |
| Market risk | **Multi-Asset Correlated Crash** | XLM deep bear, flash crash and USDC contagion presets |
| Market risk | **Stablecoin Depeg** | BLUSDC / AQUSDC / SOUSDC depeg: collateral loses value while USDC debt shrinks |
| Market risk | **Black Swan Multi-Shock** | Crash, depeg, a venue loss and a rate spike at once |
| Leverage risk | **Leveraged LP Impermanent Loss** | Impermanent loss on live Aquarius / Soroswap LP positions vs each account's equity |
| Leverage risk | **High-Leverage Concentration** | Accounts per leverage band and what a move does to the most leveraged |
| Leverage risk | **Leveraged External-Pool Shock** | A price move flowing through Blend / Aquarius / Soroswap positions |
| Systemic risk | **Cascading Liquidation** | The liquidation spiral, with your own market-impact assumption |
| Systemic risk | **Whale Withdrawal** | Lenders pull from a pool: utilization and the on-chain rate rise |
| Systemic risk | **Interest Rate Spike** | Pools pushed up the rate curve; interest erodes borrower health |
| Protocol risk | **Reflector Oracle Failure** | A stale or wrong price: hidden, wrongful or missed liquidations |
| Protocol risk | **Integrated Protocol Exploit** | An exploit in Blend, Aquarius or Soroswap impairs positions there |

The scenarios use the current account snapshot. Only the stress **presets** (the preset shock sizes) are fixed values.

## Use it

**1. Pick a scenario**

Open **Risk Explorer** and choose a card from the library.

**2. Set the shock**

Use a preset or adjust the controls.

**3. Read the results**

Compare accounts pushed below 1.10, debt at risk and estimated bad debt against the baseline.

> [!NOTE]
>
> Results are what-if calculations on today's accounts, not forecasts. Real outcomes also depend on liquidator behaviour, external liquidity and oracle updates.

For your own price assumptions across all accounts, use **What-if Calculator**. See [Risk Monitoring](https://docs.vanna.finance/stellar/guides/analytics/overview.md) and [Health Factor](https://docs.vanna.finance/stellar/guides/margin/health-factor.md).


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