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Keel
Ledger
64,489,414
Methodology
1.0.8-draft
Age
6s

What depth stands behind this price?

RBT against USDC · GCMSCR…LPSOYS

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
12.14 USDC (shortened; full value 12.145284189879424700827611782451648210880155796926 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
0.00004901 USDC (shortened; full value 0.0000490141290428 USDC)

Source: AMM pool spot

Spread
20,400,240.0834 % (shortened; full value 20400240.08343193438016848587738423 %)

Undefined unless the price came from a two-sided book

Pool spot price
0.00004901 USDC (shortened; full value 0.0000490141290428 USDC)

Reported whenever an active pool exists, whichever source won

Divergence between the two
10,200,020.0426 % (shortened; full value 10200020.0426660224274085180643915 %)

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
4.73 USDC (shortened; full value 4.7384167882229377668448528282 USDC)
Sell side
4.75 USDC (shortened; full value 4.7573694762174481539392073093355878456473880755 USDC)

5% from mid

Buy side
11.75 USDC (shortened; full value 11.7597746860514541573386164882 USDC)
Sell side
11.98 USDC (shortened; full value 11.985394711479669434957120878302942544886482894253 USDC)

10% from mid

Buy side
23.24 USDC (shortened; full value 23.2427324100943018747289697069 USDC)
Sell side
24.29 USDC (shortened; full value 24.290568379758849401655223564903296421760311593852 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%0.000073 USDC (shortened; full value 0.0000735211935642 USDC)107.02 USDC (shortened; full value 107.0233185607162709172939916576 USDC)free to reach
1%0.000098 USDC (shortened; full value 0.0000980282580856 USDC)197.24 USDC (shortened; full value 197.2481497065383740360798582747 USDC)free to reach
10%0.000539 USDC (shortened; full value 0.0005391554194708 USDC)1,103.17 USDC (shortened; full value 1103.1747749734735593149368246057 USDC)free to reach
100%0.004950 USDC (shortened; full value 0.0049504270333228 USDC)4,309.54 USDC (shortened; full value 4309.5431523619115707875375271542 USDC)free to reach

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(5)

  • MANIPULATION_CHEAP
  • MANIPULATION_RATIO_LOW
  • PRICE_SOURCE_CONFLICT
  • SPREAD_EXTREME
  • THIN_DEPTH_5PCT

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
32.7610 % (shortened; full value 32.76101858985975433707997842 %)
Top ten holders
70.5183 % (shortened; full value 70.51835055576525818760173947 %)
Concentration index
1,267.56 (shortened; full value 1267.567692707587954820202061210157174612865094088811833)

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
64,489,414

Closed at 2026-09-18T12:00:48Z

Computed at
2026-09-18T12:00:54.346568Z
Data source
horizon
Methodology
1.0.8-draft

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