What depth stands behind this price?

GOLD against USDC · GBC5ZG…LVGOLD

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.

Low
Medium
High
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.

7.59 USDC (shortened; full value 7.591980191085569996056659683034675200780577881154 USDC)

Limited by liquidation depth

Liquidation termbinds: 7.59 USDC (shortened; full value 7.591980191085569996056659683034675200780577881154 USDC)
Sell-side depth at the liquidation delta, times the haircut.
Manipulation term: 374.36 USDC (shortened; full value 374.36304535954865 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: 105.749837 USDC
Source: order book mid
Spread: 3.0165 % (shortened; full value 3.01657959056712304908800947 %)
Undefined unless the price came from a two-sided book
Pool spot price: 106.51157214 USDC (shortened; full value 106.5115721476793325 USDC)
Reported whenever an active pool exists, whichever source won
Divergence between the two: 0.7151 % (shortened; full value 0.71516656107862091861332009 %)
Null means there is no pool to diverge from, not that the sources agree

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

1.96 USDC

Sell side

3.77 USDC

5% from mid

Buy side

6.06 USDC

Sell side

7.99 USDC

10% from mid

Buy side

238.02 USDC

Sell side

15.18 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.
Move	Target price	Cost, all venues	Cost, order book only
0.5%	158.624755 USDC (shortened; full value 158.6247555 USDC)	1,558.94 USDC (shortened; full value 1558.947218067499827246895735416 USDC)	1,497.45 USDC (shortened; full value 1497.4521814381946 USDC)
1%	211.499674 USDC	2,010.32 USDC (shortened; full value 2010.3263844705334608524125142276 USDC)	1,896.14 USDC (shortened; full value 1896.1458511381946 USDC)
10%	1,163.248207 USDC	2,542.25 USDC (shortened; full value 2542.2542501179203687103924138652 USDC)	1,899.07 USDC (shortened; full value 1899.0708511381946 USDC)
100%	10,680.733537 USDC	4,554.39 USDC (shortened; full value 4554.3995958834264604561873471519 USDC)	2,038.90 USDC (shortened; full value 2038.9033487634226 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(2)

MANIPULATION_CHEAP
THIN_DEPTH_5PCT

Could not be evaluated(6)

MANIPULATION_RATIO_LOW
NO_GENUINE_TRADE_30D
HOLDER_CONCENTRATION_EXTREME
NO_GENUINE_TRADE_7D
HOLDER_CONCENTRATION_HIGH
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: not computed
Top ten holders: not computed
Concentration index: not computed
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.

WindowLast 24 hours Last 7 days Last 30 days

ResolutionHourly Daily

SourceHorizon Hubble Offers implied Trades implied

162 readings from horizon, with no gaps reported. One source per chart.

Band at each reading

Critical: 162 of 162

Which checks were firing

Whether a finding has been there all along or started recently. Only checks that fired at least once appear.

MANIPULATION_CHEAP

throughout

THIN_DEPTH_5PCT

throughout

ZERO_DEPTH_2PCT

28 of 162

Price

Lowest: 102.917524 USDC
Highest: 112.443946 USDC

2026-09-11T17:48:01Z — 2026-09-18T10:45:38Z

Mid price: 105.749837 USDC

Buy-side depth

What an order can absorb before the price moves against a buyer. The rungs are nested, so one scale covers all three, and the lines darken as the rung widens.

Lowest: 0 USDC
Highest: 245.03 USDC (shortened; full value 245.0354426851290607619976664999 USDC)

2026-09-11T17:48:01Z — 2026-09-18T10:45:38ZOne scale across every line on this chart

2% from mid: 1.96 USDC (shortened; full value 1.9695366807064759627963418092 USDC)
5% from mid: 6.06 USDC (shortened; full value 6.0695579684048673039615726201 USDC)
10% from mid: 238.02 USDC (shortened; full value 238.0208825140462756689133373606 USDC)

Cost to move the price by half

The series carries one manipulation rung, at the half per cent delta the engine treats as critical. A reading the engine could not produce breaks the line rather than sitting at zero.

Lowest: 1,272.90 USDC (shortened; full value 1272.9056646945298 USDC)
Highest: 1,558.03 USDC (shortened; full value 1558.035851014365 USDC)

2026-09-11T17:48:01Z — 2026-09-18T10:45:38Z

Manipulation cost, 0.5%: 1,497.45 USDC (shortened; full value 1497.4521814381946 USDC)

Collateral ceiling

Lowest: 6.66 USDC (shortened; full value 6.664208685472256230923806273057040309108213340284 USDC)
Highest: 119.01 USDC (shortened; full value 119.012092267118939933564123714993330260175873778402 USDC)

2026-09-11T17:48:01Z — 2026-09-18T10:45:38Z

Max safe collateral: 7.59 USDC (shortened; full value 7.591980191085569996056659683034675200780577881154 USDC)

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: 64,488,692
Closed at 2026-09-18T11:00:38Z
Computed at: 2026-09-18T11:00:45.341992Z
Data source: horizon
Methodology: 1.0.8-draft
The version that produced these figures, not the one this page was built against