Stablecoin depeg >2% on shared-LP venue

Midas'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 #

Stablecoin depeg signal. T-09 v1 launch / Tier B. USDC is the primary payment token for mToken deposits/redemptions. No active depeg event as of 2026-05-16; USDC and USDT at peg. Midas mTokens are backed by Treasuries, not stablecoins — a USDC depeg would affect deposit/redemption flow mechanics but not mToken NAV directly. Protocol exposure to stablecoins is operational (flow), not collateral. Signal not firing.

Sources #

GitHub
Sherlock 2024-08 — USDC dependency contextSherlock 2024-08 scope: USDC as payment token in DepositVault/RedemptionVault; mToken NAV backed by Treasuries not stablecoinsretrieved 2026-05-16
URL
Midas RWA — DeFiLlama (depeg context)DeFiLlama — Midas RWA: no stablecoin depeg event in TVL context as of 2026-05-16retrieved 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 midas factor RD-F-104 score green collected_at 2026-05-16 09:34:55