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Keel
Ledger
64,490,669
Methodology
1.0.8-draft
Age
8s

What depth stands behind this price?

ACT against USDC · GAHHUL…HX3FS7

How much can this asset safely back?

The ceiling is the lower of two independent limits. Which one binds is the part a lender acts on, so both are shown.
  1. Low
  2. Medium
  3. High
  4. Critical — this asset

Criticalpartial confidence

A band marked partial is a floor. At least one high-severity check could not be evaluated, so the real band can only be worse than the one shown, never better.

0 USDC

Limited by manipulation cost

Liquidation term
4.57 USDC (shortened; full value 4.57454426553287059468065582225387293749303633996 USDC)

Sell-side depth at the liquidation delta, times the haircut.

Manipulation termbinds
0 USDC

Order-book-only manipulation cost at the critical delta, times the safety margin.

These bands come from thresholds that were chosen, not calibrated

The thresholds were chosen based on the magnitude of the Blend incident of February 2026 and on conservative judgement, not calibrated against a set of incidents. Every flag is reported separately so that consumers can apply their own thresholds.

Every threshold, as the engine serves it

Where this number comes from
Source
GET /asset/{assetId}/depth → maxSafeCollateral, maxSafeCollateralLiquidation, maxSafeCollateralManipulation
What it is
Awaiting methodology copy.
What it does not account for
Awaiting methodology copy.

What this computation could not do

  • maxReachablePrice and costToMaxReachablePrice are null because an active pool is present: under a constant product curve the price tends to infinity as the base reserve tends to zero, so every target is reachable and a highest price has no meaning

Served by the engine with this response and shown as written.

Where does the price come from?

Two venues can disagree. Both readings are shown, not only the one that won.
Mid price
0.00066894 USDC (shortened; full value 0.0006689422196284 USDC)

Source: AMM pool spot

Spread
1,020.6412 % (shortened; full value 1020.64121528952123189591186182 %)

Undefined unless the price came from a two-sided book

Pool spot price
0.00066894 USDC (shortened; full value 0.0006689422196284 USDC)

Reported whenever an active pool exists, whichever source won

Divergence between the two
539.5993 % (shortened; full value 539.59933675239561577857981639 %)

PRICE_SOURCE_CONFLICT is triggered: the two sources disagree past the threshold and the pool was taken

Where this number comes from
Source
GET /asset/{assetId}/depth → midPrice, priceSource, spreadPct, poolSpotPrice, priceDivergencePct
What it is
Awaiting methodology copy.
What it does not account for
Awaiting methodology copy.

What volume can it absorb before the price moves?

Three rungs at 2, 5 and 10 per cent, in each direction. The buy side matters for oracle manipulation and the sell side for liquidation.
  • SDEX
  • AMM
  • Sell side, composition not reported

2% from mid

Buy side
1.78 USDC (shortened; full value 1.7847335689887845772925182066 USDC)
Sell side
1.79 USDC (shortened; full value 1.79187253446289921051281526210559014937402923 USDC)

5% from mid

Buy side
4.42 USDC (shortened; full value 4.4293411879903013754841399235 USDC)
Sell side
4.51 USDC (shortened; full value 4.51432179366124533987211768719435277731086264338 USDC)

10% from mid

Buy side
8.75 USDC (shortened; full value 8.7544187481397230303872856364 USDC)
Sell side
9.14 USDC (shortened; full value 9.14908853106574118936131164450774587498607267992 USDC)

Bars share one scale. The venue split decomposes the buy side; the sell side is drawn as an outline because its composition is not reported.

Where this number comes from
Source
GET /asset/{assetId}/depth → depth[]
What it is
Awaiting methodology copy.
What it does not account for
Awaiting methodology copy.

What would it cost to move the price?

Read cost together with reachability: a figure on an unreachable rung says how far the book goes, not what the move costs.
Cost to move the price by each delta, through all venues and through the order book alone, with whether the target is reachable at all.
MoveTarget priceCost, all venuesCost, order book only
0.5%0.001003 USDC (shortened; full value 0.0010034133294426 USDC)40.31 USDC (shortened; full value 40.3105336311129162083604462829 USDC)free to reach
1%0.001337 USDC (shortened; full value 0.0013378844392568 USDC)74.29 USDC (shortened; full value 74.2938854760830719548297058217 USDC)free to reach
10%0.007358 USDC (shortened; full value 0.0073583644159124 USDC)415.51 USDC (shortened; full value 415.5128477195858837683511738061 USDC)free to reach
100%0.067563 USDC (shortened; full value 0.0675631641824684 USDC)2,402.59 USDC (shortened; full value 2402.599362611789033509588363261 USDC)779.40 USDC (shortened; full value 779.40185281430774 USDC)

Reachability on the all-venues ladder is unconditionally true whenever an active pool exists, because a constant product curve has no upper price bound. The order-book-only column is the one that answers whether a target is attainable, and it is the one Keel itself uses.

How far the book actually goes

Furthest price the book reaches
not computed

Null by structure, not by failure: an active pool means every target is reachable and a highest price has no meaning

Cost to walk it that far
not computed

Null for the same reason as the price above

Against genuine volume

Not reported for this asset. Without it there is no comparison between the cost of an attack and the genuine trading it would have to hide inside.

Where this number comes from
Source
GET /asset/{assetId}/depth → manipulationCostCombined[], manipulationCostOrderbookOnly[], oracleResistance
What it is
Awaiting methodology copy.
What it does not account for
Awaiting methodology copy.

Which checks fired, and which could not run?

An unevaluated check is not a check that came back clear. The two never share a treatment.

Triggered(6)

  • MANIPULATION_CHEAP
  • MANIPULATION_RATIO_LOW
  • PRICE_SOURCE_CONFLICT
  • SPREAD_EXTREME
  • THIN_DEPTH_5PCT
  • HOLDER_CONCENTRATION_HIGH

Could not be evaluated(3)

  • NO_GENUINE_TRADE_30D
  • NO_GENUINE_TRADE_7D
  • WASH_TRADE_SUSPECTED
Where this number comes from
Source
GET /asset/{assetId}/depth → flags[], unevaluatedFlags[], bandConfidence
What it is
Awaiting methodology copy.
What it does not account for
Awaiting methodology copy.

Who holds it, and is it genuinely traded?

Concentration and wash trading bound how much of the depth above is real.
Largest holder
41.5175 % (shortened; full value 41.51754326161869072704407124 %)
Top ten holders
80.1240 % (shortened; full value 80.12407931291155667787330842 %)
Concentration index
2,056.52 (shortened; full value 2056.5241204774952615256026998876242994719392719756550715)

Herfindahl–Hirschman, over the holder distribution

Volume excluded as not genuine
not computed

Of 30 day volume. A high share indicates suspected wash trading

Volume to supply, 30 day
not computed
Last genuine trade
not computed

No genuine trade was found in the window

Where this number comes from
Source
GET /asset/{assetId}/depth → holderTop1Pct, holderTop10Pct, holderHhi, volumeToSupply, lastGenuineTrade, tradesExcludedPct
What it is
Awaiting methodology copy.
What it does not account for
Awaiting methodology copy.

How has this moved over time?

A single reading cannot separate a thin asset from one that just got thin. This is a stored series, not the historical replay that health reports as unavailable — those are different endpoints.

No readings were stored in this range from this source

The engine accepted the request and returned nothing for Hubble. The series is as old as the deployment, and the reconstruction sources are not populated in production, so a window can reach back further than anything that was recorded. It is not empty because the figures were zero.

Where this number comes from
Source
GET /asset/{assetId}/history → points[], gaps[], dataSource
What it is
Awaiting methodology copy.
What it does not account for
Awaiting methodology copy.

What was this computed from?

Ledger
64,490,669

Closed at 2026-09-18T13:45:23Z

Computed at
2026-09-18T13:45:31.847292Z
Data source
horizon
Methodology
1.0.8-draft

The version that produced these figures, not the one this page was built against