Yield Aggregator · Review
ActiveZunami Protocol Review 2026: Stablecoin Yield and a 2023 Hack
Zunami Protocol is a DAO-run stablecoin yield aggregator on Ethereum. It has two listed audits, but also a 2023 exploit of about $2.1 million and a small current TVL.
By the DappsAtlas editorial team · Updated
DappsAtlas score
4.3/10
Weak
Our verdict on Zunami Protocol
4.3/10Zunami Protocol suits experienced DeFi users who want stablecoin yield aggregation and are comfortable with elevated smart-contract risk. Its main strength is a focused, DAO-run approach to automating stablecoin strategies on Ethereum, backed by two listed audits. The main caveat is its security record: a roughly $2.1 million exploit in 2023, plus small TVL today. Fees and current yields could not be confirmed, so verify them and any stablecoin peg data before depositing, and size positions conservatively.
Score breakdown
How Zunami Protocol scores
- Security
- 3.5/10
- Ease of use
- n/a
- Fees
- n/a
- Features
- 5.0/10
Scores run from 0 to 10 and are based only on facts we could verify. Where information was missing we mark the score n/a rather than guess.
What is Zunami Protocol?
Zunami Protocol is a DAO that works with stablecoins. Its stated aim is to make yield farming easier, cheaper and more profitable by streamlining interaction with DeFi and rebalancing users' funds across strategies. DefiLlama lists it as a yield aggregator on Ethereum, tracking it since January 2022.
Current scale is modest. DefiLlama shows about $550K in total value locked, up 1.6% over the past week. Two audits are listed.
The key point for any reader is the August 2023 incident. Multiple outlets reported a price manipulation attack on the protocol's stablecoin pools that cost about 1,152 ETH, around $2.1 million. This review is based on public data and public reporting. The homepage could not be fetched, so some current product details are unconfirmed.
How Zunami Protocol works
A yield aggregator pools deposits from many users and allocates them to lending markets, liquidity pools or other DeFi strategies. Users hold a claim on the pool instead of managing each position. Rebalancing is meant to move funds toward better returns or lower risk.
Zunami focuses on stablecoins. Its V2 introduction describes a protocol that issues aggregated stablecoins whose collateral is used in yield strategies. That means a user's risk includes the underlying strategies and the aggregated stablecoin's peg, not just the original deposit.
The protocol is run as a DAO. Public reporting mentions a governance token called ZUN, which would be used for community decisions, though DefiLlama lists no token for the protocol.
5 features
Key features
01
Stablecoin yield aggregation
Pools user funds and spreads them across DeFi strategies, so users do not manage each position themselves.
02
Automated rebalancing
The protocol says it differentiates and rebalances users' funds to improve profitability and spread risk.
03
DAO governance
Described as a DAO, so the community of token holders is meant to steer the protocol.
04
Aggregated stablecoins
Zunami V2 is described as issuing aggregated stablecoins whose collateral is put to work in yield strategies.
05
Two listed audits
DefiLlama lists two audits for the protocol, though it does not name the auditors.
Pros and cons
What we like
- Clear purpose: stablecoin-focused yield aggregation that removes the need to manage strategies manually
- Two audits are listed on DefiLlama
- Running since January 2022, so it has some operating history
- Governed as a DAO rather than by a single operator
- TVL is still positive and was up slightly over the past week
Watch out for
- Suffered a price manipulation exploit in August 2023 that cost about 1,152 ETH, or roughly $2.1 million
- TVL is small, at about $550K on DefiLlama, which suggests limited scale and liquidity
- Only on Ethereum, so mainnet gas costs apply to every interaction
- Fees and yield figures could not be confirmed because the homepage was unavailable
- Layered strategies and aggregated stablecoins add smart-contract and depeg risk
- Public reporting shows conflicting prices for its stablecoin, so peg stability is unclear
Zunami Protocol fees
Fee details are not. The homepage could not be fetched, and DefiLlama does not list a fee schedule for Zunami.
Before depositing, check the app and documentation for any deposit, withdrawal or performance fees. Ethereum gas costs apply to every transaction on top of any protocol fees.
Is Zunami Protocol safe?
DefiLlama lists two audits, but the August 2023 price manipulation attack shows that audits do not guarantee safety. Reports put the loss at about 1,152 ETH, or roughly $2.1 million. A Rekt News case file and a BlockApex analysis cover the incident in more detail. We could not confirm what compensation or remediation followed.
As a pooled stablecoin product, Zunami carries smart-contract risk, strategy risk from the protocols it deposits into, and depeg risk from its aggregated stablecoin. Public reporting shows widely different prices for its ZUNUSD token, so check peg data yourself. Nothing here is financial advice, and users should not deposit more than they can afford to lose.
6 steps
How to get started with Zunami Protocol
- 1
Find the official site through the project's verified social accounts and check the address carefully.
- 2
Read the current documentation, audit reports and the post-mortem of the 2023 exploit.
- 3
Check any yield figures and fees on the app and compare them with DefiLlama data.
- 4
Set up an Ethereum wallet and keep some ETH for gas.
- 5
Start with a small deposit to learn the process before committing more.
- 6
Monitor the position and know how to withdraw if the stablecoin or pool shows stress.
Who Zunami Protocol is for
Zunami is for experienced DeFi users who understand aggregator and stablecoin risk, can read audits and post-mortems, and want to research an Ethereum yield product with a mixed track record. It is a poor fit for beginners or anyone who cannot accept losing deposited funds.
Zunami Protocol FAQs
What is Zunami Protocol?
Zunami Protocol is a DAO that works with stablecoins. It aims to simplify yield farming by pooling user funds and rebalancing them across DeFi strategies. DefiLlama lists it as a yield aggregator on Ethereum.
Was Zunami Protocol hacked?
Yes. In August 2023 the protocol lost about 1,152 ETH, roughly $2.1 million, in a price manipulation attack on its stablecoin pools. Reports describe it as an exploit of its zStables. Check the protocol's own post-mortems for how it responded.
Is Zunami Protocol safe?
DefiLlama lists two audits, but audits do not remove risk, and the 2023 incident happened despite them. Treat it as higher risk than larger, longer-running aggregators and size any position accordingly.
Does Zunami have a token?
Public reporting mentions a governance token called ZUN and a stablecoin called ZUNUSD. DefiLlama shows no protocol token for it. Prices quoted in different results do not agree, so check live data on a reliable tracker before relying on any figure.
Which blockchain does Zunami run on?
DefiLlama's listing shows Ethereum only. That means standard Ethereum gas costs apply to deposits and withdrawals.
What are Zunami's fees and yields?
the public information available do not state fees or yields. Users should check the app or documentation for current performance and fee details before depositing.
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How we checked
Sources
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