Stablecoin depeg >2% on shared-LP venue
crvUSD (Curve Stablecoin)'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 #
Stablecoin depeg >2% on venues with shared LP. Highly applicable to crvUSD in two dimensions: (1) crvUSD itself is a stablecoin whose depeg would trigger through PegKeeper mechanism failure; (2) USDC/USDT in PegKeeper pools (USDC pool: 0x6B765d07cf966c745B340AdCa67749fE75B5c345; USDT pool: 0x3fA20eAa107DE08B38a8734063D605d5842fe09C) are dependency stablecoins. Current posture (2026-05-16): crvUSD at $0.9996 (0.04% from peg); USDC and USDT both within 0.1% of peg. Signal does NOT fire today. Yellow: signal is highly applicable and has demonstrably fired in prior events — June 12, 2024 crvUSD upward depeg to >$1.03 (LlamaRisk incident report); Oct 10, 2025 crvUSD depeg to $1.02 during crypto liquidation cascade with similar PegKeeper delay. PegKeeper V2 deviation check fix deployed post-June 2024 but structural risk of PegKeeper response delay under liquidation cascade conditions persists. Signal design is live-applicable; current posture is within threshold. [T-09 v1 production signal]
Sources #
- URLCoinGecko crvUSD live priceCoinGecko crvUSD price $0.9996 (2026-05-16); 24h range $0.9990-$1.001; within 0.04% of pegretrieved 2026-05-16
- PegKeeper v1 USDC EtherscanPegKeeper v1 (USDC) 0x6B765d07cf966c745B340AdCa67749fE75B5c345; PegKeeper v2 (USDT) 0x3fA20eAa107DE08B38a8734063D605d5842fe09C — PegKeeper pool dependency stablecoinsretrieved 2026-05-16
- LlamaRisk crvUSD depeg June 2024LlamaRisk incident report June 12 2024: crvUSD upward depeg to >$1.03 during UwU Lend-triggered liquidation cascade; PegKeeper deviation check prevented responseretrieved 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 →