Liquidity depth per major asset
Usual (USD0 / bUSD0 / USUAL)'s assessment for RD-F-065 — scored yellow on the v1.7.0 rubric. The evidence below is the curator's reasoning for this score.
Evidence summary #
USD0 ($557M supply) trades on Curve and Uniswap V3 and is currently near peg ($0.9981); depth appears adequate under normal conditions. bUSD0 secondary market depth is thin: floor price mechanism ($0.92 current, was $0.87 initially) bounds the downside but constrains the secondary market. Curve USD0/USD0++ pool swung to ~92% imbalance during January 2025 depeg, demonstrating liquidity depth fails under stress. Exact 2%/5% DEX depth not quantified (Dune 403). Yellow: USD0 depth appears adequate normally but failed in stress (Jan 2025); bUSD0 depth structurally thin due to floor gating and maturity lock.
Sources #
- URLBlockworks — Usual depeg DeFi instabilityBlockworks — USD0++ depeg event DeFi instability; bUSD0 thin secondary market post-depegretrieved 2026-05-17
- CoinGecko — USD0 priceCoinGecko — USD0 price $0.9981 (2026-05-17), confirming near-peg secondary market liquidity for USD0retrieved 2026-05-17
- OneSafe — USD0++ depegging impact analysisOneSafe blog — USD0/USD0++ Curve pool swung to 92% imbalance during January 2025 depeg; bUSD0 price fell to $0.89retrieved 2026-05-17
Methodology #
Measure on-chain liquidity depth for protocol-held assets at 2% and 5% price impact in USD.
See the full factor methodology and distribution across all protocols →