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Raga Finance

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[AI-DRAFTED · AWAITING VERIFICATION][src:defillama]
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Summary

Raga Finance is a DeFi yield optimization protocol launched in 2024 and deployed on Berachain and Hyperliquid, offering automated cross-chain vaults for earning yield on ETH, BTC, and stablecoins. A pre-launch security audit by QuillAudits uncovered 16 smart contract vulnerabilities — including critical flaws enabling permanent loss of user funds, a non-functional emergency panic function, and an open-access vault address setter — constituting the protocol logic incident flagged for review. The protocol has been flagged by ZachXBT, and while the development team reportedly remediated all identified vulnerabilities, the severity and breadth of pre-launch flaws raise meaningful questions about engineering process and ongoing risk.

Connected Entities

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    Timeline(8 events)

    2023-09

    Raga Finance founded under the name Nexus Network by Mayank Raj and co-founders.

    2024-01

    Project rebrands from Nexus Network to Raga Finance and begins developing cross-chain yield vault product.

    2025-01-21

    Co-founder and CEO Mayank Raj participates in a public AMA discussing Raga Finance's cross-chain DeFi yield product and upcoming launch on Movement mainnet.

    2025-02

    Berachain mainnet launches. Raga Finance deploys vaults on Berachain including Infrared and BeraPaw auto-compounding strategies.

    2025-03

    Raga Finance opens USDC, USDT, DAI, and USDe vault deposits to users.

    2025-04

    Raga Finance makes a $1,000,000 seed investment in Bloctopus (formerly LZero), an infrastructure project, alongside Hivemind and the Ethereum Foundation.

    2025-06

    QuillAudits publishes a case study documenting the results of the Raga Finance Berachain smart contract audit, which identified 16 vulnerabilities including critical issues with fund safety, access control, and emergency logic. All findings are reported as resolved.

    2025-07

    Raga Finance Hyperliquid delta-neutral vault (rHYPE-DN) launches, deploying user funds in USDT0 on hyperEVM with short HYPE positions on HyperCore.

    Provenance & Audit Trail
    Anchored on SolanaVerify on-chainsrc:defillama

    Decision Log

    This investigation is cryptographically anchored to the Solana blockchain and source URLs are archived via the Internet Archive.

    full audit log →version history →

    model: claude-sonnet-4-6

    generated: 5/4/2026, 2:54:20 AM

    last updated: 5/29/2026, 5:14:35 PM

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