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Keel
Ledger
64,489,949
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
4.56 USDC (shortened; full value 4.56232039690894886086283020894988411729867692831 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
0.00066537 USDC (shortened; full value 0.0006653780175674 USDC)

Source: AMM pool spot

Spread
1,026.1084 % (shortened; full value 1026.10844057654833946349999746 %)

Undefined unless the price came from a two-sided book

Pool spot price
0.00066537 USDC (shortened; full value 0.0006653780175674 USDC)

Reported whenever an active pool exists, whichever source won

Divergence between the two
543.0254 % (shortened; full value 543.02545125284377851505791492 %)

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
1.77 USDC (shortened; full value 1.7799644929096189569886020847 USDC)
Sell side
1.78 USDC (shortened; full value 1.7870843830649108222039301790614948446772362175 USDC)

5% from mid

Buy side
4.41 USDC (shortened; full value 4.417505323257798929101562273 USDC)
Sell side
4.50 USDC (shortened; full value 4.502258849059170260236765102803813345485883190305 USDC)

10% from mid

Buy side
8.73 USDC (shortened; full value 8.7310256267437895894712739758 USDC)
Sell side
9.12 USDC (shortened; full value 9.12464079381789772172566041789976823459735385662 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%0.000998 USDC (shortened; full value 0.0009980670263511 USDC)40.20 USDC (shortened; full value 40.2028178325091695782762759141 USDC)free to reach
1%0.001330 USDC (shortened; full value 0.0013307560351348 USDC)74.09 USDC (shortened; full value 74.0953610586525146119440278436 USDC)free to reach
10%0.007319 USDC (shortened; full value 0.0073191581932414 USDC)414.40 USDC (shortened; full value 414.4025350000418515192030271199 USDC)free to reach
100%0.067203 USDC (shortened; full value 0.0672031797743074 USDC)2,398.26 USDC (shortened; full value 2398.2619351378818529589893170282 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
64,489,949

Closed at 2026-09-18T12:45:23Z

Computed at
2026-09-18T12:45:31.922474Z
Data source
horizon
Methodology
1.0.8-draft

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