Keel — Stellar liquidity risk

VAQM / USDC

GC2B…BVCD

Risk band

Critical

partial confidence

A floor: the real band can only be worse.

Max safe collateral: 9.11 USDC (shortened; full value 9.112056938025193348730507972604131854276082266782 USDC)Limited by liquidation depth
Depth within 5%: buy8.82 USDC (shortened; full value 8.8228266084494156033317219353 USDC)sell8.99 USDC (shortened; full value 8.992099100218173436465568245663962418687030823421 USDC)
Cost to move +50%: 764.76 USDC (shortened; full value 764.76460592322 USDC)Reachable through the order book
Checks: 7 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: 3.44 USDC (shortened; full value 3.4412066058149855948274724223 USDC)
Highest: 927.24 USDC (shortened; full value 927.2405979707412128932622425163 USDC)

2026-09-11T17:48:23Z — 2026-10-02T10:09:27ZOne scale across every line on this chart

2% from mid: 3.61 USDC (shortened; full value 3.6153228061401684959183829474 USDC)
5% from mid: 773.73 USDC (shortened; full value 773.7370926245209907659350323642 USDC)
10% from mid: 782.49 USDC (shortened; full value 782.4983731950393245072528708615 USDC)

498 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 to move the pricenowMANIPULATION_CHEAP

throughout

Thin depth at 5%nowTHIN_DEPTH_5PCT

throughout

Cheap next to real tradingnowMANIPULATION_RATIO_LOW

480 of 498

One holder owns most of itnowHOLDER_CONCENTRATION_EXTREME

480 of 498

Supply is concentratednowHOLDER_CONCENTRATION_HIGH

480 of 498

Price sources disagreenowPRICE_SOURCE_CONFLICT

200 of 498

Extreme spreadnowSPREAD_EXTREME

199 of 498

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: 764.76 USDC (shortened; full value 764.76460592322 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: 764.76 USDC (shortened; full value 764.76460592322 USDC)
The move, plus the genuine volume an averaging oracle forces an attacker to outweigh