Keel — Stellar liquidity risk

SHX / USDC

GDST…J6JH

Risk band

Critical

partial confidence

A floor: the real band can only be worse.

Max safe collateral: 540.55 USDC (shortened; full value 540.5575493747664950720111123561640094920140156214655 USDC)Limited by liquidation depth
Depth within 5%: buy873.28 USDC (shortened; full value 873.2810371485069860852175887589 USDC)sell20.83 USDC (shortened; full value 20.834483821013292557023309704185744501934645524196 USDC)
Cost to move +50%: 2,937.61 USDC (shortened; full value 2937.61813720329890395941496 USDC)Reachable through the order book
Checks: 4 triggered3 not evaluated

History

Window

Resolution

Source

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

Lower at the end of the window than at its start

Lowest: 0 USDC
Highest: 5,336.40 USDC (shortened; full value 5336.4049905167872381886939965949 USDC)

2026-10-04T23:54:12Z — 2026-10-25T00:24:08ZOne scale across every line on this chart

2% from mid: 753.58 USDC (shortened; full value 753.5843766652862399695388217864 USDC)
5% from mid: 1,041.20 USDC (shortened; full value 1041.2028982051109555524485648701 USDC)
10% from mid: 3,116.84 USDC (shortened; full value 3116.849445180294440387666939096 USDC)

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

What fires now, how long it has been firing across the window above, and what could not run.

Cheap next to real tradingnowMANIPULATION_RATIO_LOW

throughout

Thin depth at 5%nowTHIN_DEPTH_5PCT

throughout

Nothing tradable within 2%nowZERO_DEPTH_2PCT

14 of 22

Cheap to move the pricenowMANIPULATION_CHEAP

14 of 22

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

An averaging oracle makes an attacker outweigh genuine trading as well as move the book. A market with no genuine volume has no such defence.

Cost of a 50% move, order book only: 2,937.61 USDC (shortened; full value 2937.61813720329890395941496 USDC)
The target is reachable through the order book
Genuine volume in the oracle window: 0 USDC
Over the last 900 seconds (15 minutes), after the genuine-trade filter
Cost against genuine volume: not computed
Below 1, moving the price is cheaper than all genuine trading across the window. Not computed when there was no genuine volume or the target is unreachable
Total attack cost: 2,937.61 USDC (shortened; full value 2937.61813720329890395941496 USDC)
The move, plus the genuine volume an averaging oracle forces an attacker to outweigh