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Keel
Ledger
64,490,135
Methodology
1.0.8-draft
Age
7s

What depth stands behind this price?

SSLX against USDC · GBHFGY…EH37UR

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.

12.99 USDC (shortened; full value 12.99393352500534 USDC)

Limited by manipulation cost

Liquidation term
135.92 USDC (shortened; full value 135.929009583669510801189798426435394600462545442506 USDC)

Sell-side depth at the liquidation delta, times the haircut.

Manipulation termbinds
12.99 USDC (shortened; full value 12.99393352500534 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
0.00013574 USDC (shortened; full value 0.0001357407144768 USDC)

Source: AMM pool spot

Spread
80.3001 % (shortened; full value 80.30015196260782556535387585 %)

Undefined unless the price came from a two-sided book

Pool spot price
0.00013574 USDC (shortened; full value 0.0001357407144768 USDC)

Reported whenever an active pool exists, whichever source won

Divergence between the two
23.0149 % (shortened; full value 23.01499192575671769193137591 %)

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
53.03 USDC (shortened; full value 53.0319662305218199809012544603 USDC)
Sell side
53.24 USDC (shortened; full value 53.2440831367848159188742494645078565963336579905 USDC)

5% from mid

Buy side
131.61 USDC (shortened; full value 131.6144193096853069800008742624 USDC)
Sell side
134.13 USDC (shortened; full value 134.139539851883513077210649607390268785087205227743 USDC)

10% from mid

Buy side
260.13 USDC (shortened; full value 260.1307262250023682648764428332 USDC)
Sell side
271.85 USDC (shortened; full value 271.858019167339021602379596852870789200925090885012 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%0.000203 USDC (shortened; full value 0.0002036110717152 USDC)1,249.77 USDC (shortened; full value 1249.77180596453173209768494705 USDC)51.97 USDC (shortened; full value 51.97573410002136 USDC)
1%0.000271 USDC (shortened; full value 0.0002714814289536 USDC)2,259.56 USDC (shortened; full value 2259.5606051204262975251787035206 USDC)51.97 USDC (shortened; full value 51.97573410002136 USDC)
10%0.001493 USDC (shortened; full value 0.0014931478592448 USDC)15,266.46 USDC (shortened; full value 15266.4647390147679803175739223041 USDC)2,919.82 USDC (shortened; full value 2919.82449450020604616671696 USDC)
100%0.013709 USDC (shortened; full value 0.0137098121621568 USDC)53,135.24 USDC (shortened; full value 53135.2460529001773029828625718947 USDC)4,903.19 USDC (shortened; full value 4903.19785210338834616671696 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(4)

  • MANIPULATION_CHEAP
  • PRICE_SOURCE_CONFLICT
  • SPREAD_EXTREME
  • 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.

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
64,490,135

Closed at 2026-09-18T13:00:53Z

Computed at
2026-09-18T13:01:00.717296Z
Data source
horizon
Methodology
1.0.8-draft

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