Stablecoin depeg >2% on shared-LP venue
Circle USYC's assessment for RD-F-104 — scored green on the v1.7.0 rubric. The evidence below is the curator's reasoning for this score.
Evidence summary #
T-09 v1 launch; tier-B. USYC uses USDC as subscription/redemption currency via Teller contracts. USDC is at peg ($1.00) as of assessment date. A USDC depeg >2% would disrupt redemption mechanics but would not affect the fund's underlying asset backing (T-Bills and reverse repos). Primary signal condition (depeg >2% sustained 30 min AND protocol exposure >5% TVL) not met. USDC at peg, no depeg event ongoing.
Sources #
- URLDefiLlama Protocol API - circle-usyc (USDC redemption dependency)DefiLlama - USDC price tracking; USDC at peg as of 2026-05-16retrieved 2026-05-16
- USYC Product StructuringUSYC product structuring - USDC as subscription/redemption currencyretrieved 2026-05-16
Methodology #
Detect whether a stablecoin in this protocol's dependency graph depegs >2% on a venue with shared liquidity.
See the full factor methodology and distribution across all protocols →
rubric_version v1.7.0 protocol circle-usyc factor RD-F-104 score green collected_at 2026-05-15 21:56:43