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keel
Ledger
65,275,695
Methodology
1.0.8-draft
Age
6s

AMM against USDC — what depth stands behind this price?

All assets

AMM / USDC

GARQ…BDOQ

Risk band

Critical

partial confidence

A floor: the real band can only be worse.

Max safe collateral
0 USDCLimited by manipulation cost
Depth within 5%
buy15.19 USDC (shortened; full value 15.1906983544686446711359833722 USDC)sell58.12 USDC (shortened; full value 58.12311181594204459516937268917530381634017981528 USDC)
Cost to move +50%
0 USDCReachable at no cost: nothing stands in the way
Checks
7 triggered3 not evaluated

Collateral ceiling

The most this asset could back at each reading: the lower of the liquidation and manipulation limits.

Unchanged across the window

Lowest
0 USDC
Highest
0 USDC
2026-11-02T00:53:24Z — 2026-11-02T23:53:24Z
Max safe collateral
0 USDC
24 readings from horizon, with no gaps reported. One source per chart.

Checks

What fires now, how long it has been firing across the window above, and what could not run.
Nothing tradable within 2%nowZERO_DEPTH_2PCTthroughout
Cheap to move the pricenowMANIPULATION_CHEAPthroughout
Cheap next to real tradingnowMANIPULATION_RATIO_LOWthroughout
Extreme spreadnowSPREAD_EXTREMEthroughout
One holder owns most of itnowHOLDER_CONCENTRATION_EXTREMEthroughout
Thin depth at 5%nowTHIN_DEPTH_5PCTthroughout
Supply is concentratednowHOLDER_CONCENTRATION_HIGHthroughout

Not evaluated3

  • No genuine trade in 30 days
  • No genuine trade in 7 days
  • Volume may be wash traded

Evidence

The figures behind the verdict, as the engine served them.

Volume each side can absorb before the price moves 2, 5 or 10 per cent. Buy side bears on oracle manipulation, sell side on liquidation.

  • SDEX
  • AMM
  • Sell side, composition not reported

2% from mid

Buy side
0 USDC
Sell side
35.76 USDC (shortened; full value 35.76777490055122007278752305148570988400352858896 USDC)

5% from mid

Buy side
15.19 USDC (shortened; full value 15.1906983544686446711359833722 USDC)
Sell side
58.12 USDC (shortened; full value 58.12311181594204459516937268917530381634017981528 USDC)

10% from mid

Buy side
50.70 USDC (shortened; full value 50.7059850822763145491515429192 USDC)
Sell side
96.18 USDC (shortened; full value 96.18140494623671015871653165293314768743366464956 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.