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Keel
Ledger
64,489,410
Methodology
1.0.8-draft
Age
5s

What depth stands behind this price?

AIus against USDC · GDBYZG…3Z4QWU

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.

0.0000017 USDC (shortened; full value 0.000001775011085 USDC)

Limited by manipulation cost

Liquidation term
32.96 USDC (shortened; full value 32.963991428798536119521097796793459978475555030744 USDC)

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

Manipulation termbinds
0.0000017 USDC (shortened; full value 0.000001775011085 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
0.00243226 USDC (shortened; full value 0.0024322686403586 USDC)

Source: AMM pool spot

Spread
101.3374 % (shortened; full value 101.3374712579159770801104152 %)

Undefined unless the price came from a two-sided book

Pool spot price
0.00243226 USDC (shortened; full value 0.0024322686403586 USDC)

Reported whenever an active pool exists, whichever source won

Divergence between the two
49.3312 % (shortened; full value 49.33124522589939549686932475 %)

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
12.86 USDC (shortened; full value 12.8607239612136478251645592957 USDC)
Sell side
12.91 USDC (shortened; full value 12.912162793879970137033731301901136285896670822 USDC)

5% from mid

Buy side
31.91 USDC (shortened; full value 31.9176663879222252005043525386 USDC)
Sell side
32.53 USDC (shortened; full value 32.530029134205499807985730792670534926606714720132 USDC)

10% from mid

Buy side
63.08 USDC (shortened; full value 63.0840124191376487508040942671 USDC)
Sell side
65.92 USDC (shortened; full value 65.927982857597072239042195593586919956951110061488 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%0.003648 USDC (shortened; full value 0.0036484029605379 USDC)290.47 USDC (shortened; full value 290.4761870363534869873478882801 USDC)0.0000071 USDC (shortened; full value 0.00000710004434 USDC)
1%0.004864 USDC (shortened; full value 0.0048645372807172 USDC)541.98 USDC (shortened; full value 541.9844671526903272458962626497 USDC)6.62 USDC (shortened; full value 6.6255398012133 USDC)
10%0.026754 USDC (shortened; full value 0.0267549550439446 USDC)4,799.84 USDC (shortened; full value 4799.8465641035454522495712856186 USDC)1,805.67 USDC (shortened; full value 1805.67670704947522 USDC)
100%0.245659 USDC (shortened; full value 0.2456591326762186 USDC)13,525.06 USDC (shortened; full value 13525.0624124964527195574377422578 USDC)1,828.36 USDC (shortened; full value 1828.3625810612354 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(7)

  • MANIPULATION_CHEAP
  • MANIPULATION_RATIO_LOW
  • PRICE_SOURCE_CONFLICT
  • SPREAD_EXTREME
  • HOLDER_CONCENTRATION_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
99.8369 % (shortened; full value 99.83697333089405143288941783 %)
Top ten holders
99.9667 % (shortened; full value 99.96677645159268763373391069 %)
Concentration index
9,967.42 (shortened; full value 9967.4268448255508958108825342712995587135097104086553491)

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 Trades implied. 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
64,489,410

Closed at 2026-09-18T12:00:28Z

Computed at
2026-09-18T12:00:33.367846Z
Data source
horizon
Methodology
1.0.8-draft

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