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keel
Ledger
65,276,593
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%
buy15.40 USDC (shortened; full value 15.4058588987478700333155968552 USDC)sell57.90 USDC (shortened; full value 57.909256151344240565227033494748820180094191997427 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.

Lower at the end of the window than at its start

Lowest
0 USDC
Highest
13.85 USDC (shortened; full value 13.853265125 USDC)
2026-10-04T01:53:27Z — 2026-10-24T21:08:28Z
Max safe collateral
0 USDC
501 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.
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
Nothing tradable within 2%nowZERO_DEPTH_2PCT0 of 501
Price sources disagreePRICE_SOURCE_CONFLICTthroughout

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
35.55 USDC (shortened; full value 35.553914395985158490906219778182475749106577969667 USDC)

5% from mid

Buy side
15.40 USDC (shortened; full value 15.4058588987478700333155968552 USDC)
Sell side
57.90 USDC (shortened; full value 57.909256151344240565227033494748820180094191997427 USDC)

10% from mid

Buy side
50.92 USDC (shortened; full value 50.9211533156751926821601512501 USDC)
Sell side
95.96 USDC (shortened; full value 95.967557521323746683230688784300422105460187013888 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.