Stablecoin depeg >2% on shared-LP venue
USDD (Decentralized USD)'s assessment for RD-F-104 — scored yellow on the v1.7.0 rubric. The evidence below is the curator's reasoning for this score.
Evidence summary #
Signal is applicable with USDD as the stablecoin (fire if USDD depegs >2% on venues with shared LP). USDD has two documented historical depeg events: June 2022 depeg to ~$0.91 on Curve/Binance (recovered ~1 week via reserve deployment); March 2023 depeg to ~$0.92 during SVB/USDC contagion. Reserve post-Aug-2024 BTC removal is ~98.9% TRX+USDT (per Decrypt/DL News), increasing depeg risk if TRX price drops sharply. Current posture: USDD at approximately $1.00 as of 2026-05-17; no active depeg. Signal would fire if USDD depegs again. Yellow: documented depeg vulnerability under stress; reserve composition elevated risk; no current active fire.
Sources #
- URLDecrypt: USDD loses Bitcoin backingDecrypt — USDD loses Bitcoin backing August 2024; reserve now ~98.9% TRX+USDTretrieved 2026-05-17
- CoinGape USDD SVB depeg March 2023CoinGape — March 2023 SVB contagion depeg to ~$0.92retrieved 2026-05-17
- CoinTelegraph USDD June 2022 DepegCoinTelegraph — TRON USDD depeg June 2022 (Alameda selloff), traded to ~$0.91retrieved 2026-05-17
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 →