About the Depeg Risk Monitor
A real-time monitoring system for stablecoin depeg risk across EVM chains. Built by Webacy.
Understanding Risk Scores
Each stablecoin receives a risk score from 0-100. Higher scores indicate greater depeg risk. The score is calculated from multiple factors:
| Factor | Weight | Description |
|---|---|---|
| Price Deviation | 30% | How far the current price is from the expected peg |
| Persistence (0.5%) | 18% | Minutes the price stayed 0.5%+ off peg in the last hour |
| Persistence (1%) | 12% | Minutes the price stayed 1%+ off peg in the last hour |
| Liquidity/Slippage | 20% | Slippage for a $100k trade — illiquid tokens score higher |
| Volatility Burst | 10% | Sudden spikes in price volatility |
Risk Tiers
Score ≥ 80 — Immediate attention required
Score 60-79 — Elevated risk, monitor closely
Score 40-59 — Minor deviation, be aware
Score < 40 — Normal operation
Reading the Dashboard
| Column | Meaning |
|---|---|
| Symbol | Token ticker (e.g., USDC, DAI) |
| Chain | Blockchain network (eth, arb, base, bsc, pol, opt) |
| Currency | What the token is pegged to (USD, EUR, XAU for gold, etc.) |
| Score | Risk score 0-100 (higher = more risk) |
| Trend | Score change over recent snapshots. ▲ rising, ▼ falling |
| Liq | Liquidity tier based on 60-minute trading volume |
| Tier | Risk tier (critical, warning, watch, ok) |
| Price | Current price in USD. 📡 indicates external data source |
| Peg | Expected price based on the currency peg |
| % Off | Percentage deviation from peg. ⚠️ for significant deviation |
Using Filters
Search
Type in the search box to filter by symbol, name, or contract address. Search is case-insensitive.
Filter Dropdowns
- Chain — Show only tokens on a specific blockchain
- Currency — Filter by peg type (USD, EUR, XAU, etc.)
- Tier — Show only critical, warning, watch, or ok tokens
Saved Views
Save your current filter combination for quick access later:
- Apply your desired filters
- Type a name in the "Save view as..." field
- Click "Save view"
- Click the saved view button anytime to restore those filters
Saved views are stored in your browser and persist across sessions.
Data Sources
Prices are aggregated from multiple sources:
| Source | Type | Description |
|---|---|---|
| DeFiLlama | Aggregated API | Aggregated prices from multiple DEX protocols |
| CoinGecko | Aggregated API | CEX + DEX aggregated prices |
| DEXScreener | DEX API | Real-time prices from highest liquidity pools |
| Bitquery | On-chain Indexer | VWAP from actual DEX trades (on-chain) |
| 0x API | Quote Engine | Executable quotes with slippage estimates |
Important: Data Limitations
Prices are estimates, not executable quotes
The prices shown are aggregated/averaged values from APIs, not the actual price you would receive when executing a trade on-chain. The true executable price depends on the state of liquidity pools at the moment of execution.
This distinction matters most for:
- Thinly traded tokens — Low liquidity means large slippage
- Depegged or collapsing stables — Prices may be stale or inaccurate
- Long-tail assets — May only have liquidity on one DEX/chain
For precise execution prices, especially during incidents, always verify against on-chain liquidity pools directly.
What we DO provide for liquidity context:
- Liquidity Tier — Based on 60-minute trading volume (high/medium/low/very low)
- Slippage Estimates — From 0x API for $10k and $100k trade sizes
- On-chain VWAP — Volume-weighted average from actual DEX trades (via Bitquery)
- Multi-source Consensus — When sources disagree, we flag it and use the price closest to peg
Future Improvements
We're exploring LP-aware pricing that would query liquidity pool state directly to show executable prices for specific trade sizes. This would provide more accurate data for risk assessment during incidents.
Special Token Types
Not all stablecoins are pegged to exactly $1. The system handles different types:
| Type | Expected Behavior | Examples |
|---|---|---|
| Standard | Trades at ~$1.00 (±1%) | USDC, USDT, DAI |
| Yield-bearing | Trades above peg (accrues yield) | sUSDe, USDY, sUSDS |
| Gold-backed | Tracks gold spot price (~$2,700/oz) | PAXG, XAUT |
| EUR-pegged | Tracks EUR/USD rate (~$1.08) | EURS, agEUR |
| Other currencies | Tracks respective FX rates | GYEN (JPY), CNGN (NGN) |
Dashboard Pages
Overview
Main dashboard showing all active stablecoins with their current risk scores. Use filters to narrow down the view.
Collapsed
Historical archive of dead or shutdown stablecoin projects (e.g., UST, USDR). These are excluded from the main view but preserved for research.
Events
Historical log of significant depeg events with detailed analysis of what happened and when.
Model
Technical documentation of the scoring model, including feature weights and threshold definitions.
Frequently Asked Questions
Why does a token show a high % off but low risk score?
Some tokens (like yield-bearing stablecoins) are expected to trade above their base peg. The system adjusts expectations based on token type.
Why is a token missing from the dashboard?
Some tokens are excluded due to: (1) being dead/collapsed projects, (2) data quality issues, (3) not actually being stablecoins (e.g., LP tokens). Check the Collapsed page for dead projects.
How often is data updated?
The monitoring pipeline runs every 30 minutes. FX rates (for non-USD pegs) update hourly.
What do the icons next to prices mean?
The icon shows where the price data comes from:
- 🦙 — DeFiLlama (aggregated DEX prices)
- 🦎 — CoinGecko (CEX + DEX aggregated)
- 📊 — DEXScreener (real-time DEX prices)
- ⛓️ — Bitquery (on-chain VWAP from liquidity pools)
- 📡 — No DEX data, using external API
- 🔄 — Price corrected (original deviated too much)
- ⚠️ — Sources disagree (using best estimate)
Built by Webacy — Protecting users in Web3