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keel
Ledger
65,294,426
Methodology
1.0.8-draft
Age
8s

VAQM against USDC — what depth stands behind this price?

All assets

VAQM / USDC

GC2B…BVCD

Risk band

Critical

partial confidence

A floor: the real band can only be worse.

Max safe collateral
6.89 USDC (shortened; full value 6.898810284021839450085766547591336758305372726172 USDC)Limited by liquidation depth
Depth within 5%
buy801.91 USDC (shortened; full value 801.9111069806249581370137040224 USDC)sell4.25 USDC (shortened; full value 4.25567650149933352733224633970616570582767236772 USDC)
Cost to move +50%
787.72 USDC (shortened; full value 787.7233777068 USDC)Reachable through the order book
Checks
6 triggered3 not evaluated

History

Window
Resolution
Source

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.

Higher at the end of the window than at its start

Lowest
3.34 USDC (shortened; full value 3.3414637528419578871551525303 USDC)
Highest
810.47 USDC (shortened; full value 810.4751016456876405461193917334 USDC)
2026-10-05T02:54:27Z — 2026-10-25T21:54:28ZOne scale across every line on this chart
2% from mid
6.92 USDC (shortened; full value 6.9271760531973963908168090322 USDC)
5% from mid
800.09 USDC (shortened; full value 800.0934193366314346856630241853 USDC)
10% from mid
808.99 USDC (shortened; full value 808.994859232390927184939278391 USDC)
500 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
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_2PCT31 of 500
Price sources disagreePRICE_SOURCE_CONFLICT358 of 500
Extreme spreadSPREAD_EXTREME358 of 500

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.

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
787.72 USDC (shortened; full value 787.7233777068 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
787.72 USDC (shortened; full value 787.7233777068 USDC)

The move, plus the genuine volume an averaging oracle forces an attacker to outweigh