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Keel
Ledger
64,489,598
Methodology
1.0.8-draft
Age
7s

What depth stands behind this price?

XLMFISHz against USDC · GBLLGU…75SLGZ

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 — this asset
  4. Critical

Highpartial 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.

10.32 USDC (shortened; full value 10.32185660206936499545374425127905357167094995161 USDC)

Limited by liquidation depth

Liquidation termbinds
10.32 USDC (shortened; full value 10.32185660206936499545374425127905357167094995161 USDC)

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

Manipulation term
not applicable

Not applied: the critical target is not reachable through the order book.

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
  • manipulation to delta 0.5 is unreachable through the order book; the manipulation term was not applied

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
0.45132264 USDC (shortened; full value 0.4513226411786262 USDC)

Source: AMM pool spot

Spread
not computed

Undefined unless the price came from a two-sided book

Pool spot price
0.45132264 USDC (shortened; full value 0.4513226411786262 USDC)

Reported whenever an active pool exists, whichever source won

Divergence between the two
not computed

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
4.02 USDC (shortened; full value 4.0270163994705837346613780344 USDC)
Sell side
4.04 USDC (shortened; full value 4.0431236329156530810704300384183385353141722425 USDC)

5% from mid

Buy side
9.99 USDC (shortened; full value 9.994225419872489030926362688 USDC)
Sell side
10.18 USDC (shortened; full value 10.185972069239975077542675899621400516459162196455 USDC)

10% from mid

Buy side
21.34 USDC (shortened; full value 21.3433233792352510650986465767 USDC)
Sell side
20.64 USDC (shortened; full value 20.64371320413872999090748850255810714334189990322 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%0.676983 USDC (shortened; full value 0.6769839617679393 USDC)1,607.63 USDC (shortened; full value 1607.639939699231931993333842684 USDC)unreachablebook ends at 1,516.68 USDC (shortened; full value 1516.68452605960519 USDC)
1%0.902645 USDC (shortened; full value 0.9026452823572524 USDC)1,684.31 USDC (shortened; full value 1684.3189003948682465703839846831 USDC)unreachablebook ends at 1,516.68 USDC (shortened; full value 1516.68452605960519 USDC)
10%4.964549 USDC (shortened; full value 4.9645490529648882 USDC)2,454.23 USDC (shortened; full value 2454.2345789257933729914980870262 USDC)unreachablebook ends at 1,516.68 USDC (shortened; full value 1516.68452605960519 USDC)
100%45.583586 USDC (shortened; full value 45.5835867590412462 USDC)5,179.21 USDC (shortened; full value 5179.2160686460311662472054644502 USDC)unreachablebook ends at 1,516.68 USDC (shortened; full value 1516.68452605960519 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(3)

  • HOLDER_CONCENTRATION_EXTREME
  • THIN_DEPTH_5PCT
  • HOLDER_CONCENTRATION_HIGH

Could not be evaluated(5)

  • PRICE_SOURCE_CONFLICT
  • SPREAD_EXTREME
  • 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
64.9255 % (shortened; full value 64.9255423520034983622881659 %)
Top ten holders
99.9685 % (shortened; full value 99.9685392345689926921687946 %)
Concentration index
5,270.23 (shortened; full value 5270.2386637497653434816082128212380566487513913104613147)

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 Offers 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
64,489,598

Closed at 2026-09-18T12:16:08Z

Computed at
2026-09-18T12:16:15.315932Z
Data source
horizon
Methodology
1.0.8-draft

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