Stablecoin depeg >2% on shared-LP venue
Uniswap (v2 + v3)'s assessment for RD-F-104 — scored not_applicable on the v1.7.0 rubric. The evidence below is the curator's reasoning for this score.
Evidence summary #
V2+V3 combined structural N/A. V2 and V3 core swap pricing uses constant-product invariant — no external stablecoin dependency for protocol solvency or swap execution. No lending market (data cache: borrow.present: false). Stablecoin depegs affect LP economic positions but not V2/V3 protocol solvency or swap function. Signal threshold condition (protocol exposure >=5% TVL in a way affecting solvency) is structurally inapplicable for AMMs.
Detail #
Signal fires when a stablecoin depegs >2% AND protocol's exposure to that stable >=5% of protocol TVL in a way that affects protocol solvency. For V2 and V3: no such solvency dependency exists. V2 and V3 pools hold token pairs; if a stablecoin depegs, the pool price adjusts via arbitrage but the protocol itself (factory, router) has no collateral system, no solvency exposure, and no safety-critical stablecoin reads. LP positions suffer impermanent loss but this is an economic outcome for LPs, not a protocol-level solvency event. The protocol's operation (swap routing, fee collection) is unaffected by stablecoin depegs. Data cache: borrow.present: false. N/A confirmed.
Sources #
- Curator noteUniswap V2+V3 No Stablecoin Solvency DependencyData cache: borrow.present: false — V3 has no lending market; V2 and V3 use constant-product AMM with no stablecoin-dependent solvencyretrieved 2026-05-12
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 →