risk managerGauntletcomp.xyz
↓Compound v2 Deprecation Phase 10
Borrow cap set below current supply to shrink effective capacity and discourage new activity in v2 as part of the deprecation strategy favoring v3 adoption.
Overview
Pax Dollar(USDP)
Token Price$1
24h Change-0.058%
All Time HighApr 16, 2024$1.18
All Time LowMay 19, 2021$0.86
Key Metrics
Market Cap$31.93m
Fully Diluted Valuation$31.93m
Circ. Supply31.95m USDP
Volume 24h$25.99m
CEX Volume$24.18m
DEX Volume$1.29m
Risk Timeline
Risk-management actions published about USDP by tracked risk managers and governance contributors, newest first.
contributor@Seanforum.skyeco.com
↓Risk Month in Review: January 2024
Offboarding of PSM-USDP-A removes the peg stability module for USDP, reducing protocol exposure to this stablecoin as part of adaptations to recent MIP104 governance updates.
contributor@Seanforum.skyeco.com
↓Stability Scope Parameter Changes #8
MIP102c2-SP21 excludes USDP from the Cash Stablecoins list, necessitating offboarding of PSM-USDP-A by reducing its debt ceiling to zero to align with updated protocol recognition.
contributor@Seanforum.skyeco.com
↑Stability Scope Parameter Changes #5
USDP is being reintroduced as a cash stablecoin with PSM-PAX-A activation via DC-IAM, allowing debt ceiling expansion to 120 million DAI backed by a 2.25% monthly marketing reward from Paxos, per MIP104 updates.
contributor@Seanforum.skyeco.com
↓Risk Month in Review: June 2023
The USDP PSM debt ceiling was reduced to zero following a May proposal, limiting minting of DAI against USDP to mitigate ongoing stablecoin issuer risks and prevent potential bad debt accumulation.
contributor@Seanforum.skyeco.com
↓Risk Month in Review: May 2023
USDP provides less utility for promoting DAI liquidity compared to alternatives like USDC, and Maker earns no revenue from USDP exposure in the PSM. Recommendation to reduce PSM-USDP-A debt ceiling to 0 to minimize underperforming stablecoin holdings.
contributor@Seanforum.skyeco.com
→Risk Core Unit Month in Review: March 2023
PSM-PAX-A (USDP) added to Debt Ceiling Breaker whitelist following USDC contagion event, allowing rapid debt ceiling cuts if stablecoin risks escalate.
contributor@Seanforum.skyeco.com
↓Risk Core Unit Month in Review: January 2023
USDP-A vault offboarded as it serves little purpose to the protocol since the PSM was established, with liquidations clearing undercollateralized positions and minor overcollateralized debt remaining; PSM-USDP-A tin increased to 0.2%, raising fees and reducing incentives for using USDP in stability swaps.
contributor@Seanforum.skyeco.com
→Risk Core Unit Month in Review: November 2022
Liquidation mechanisms were activated for USDP-A stablecoin vaults to clear accumulated bad debt, with parameters set for gradual auctions without penalties to facilitate orderly resolution.
contributor@Llamaxyzgovernance.aave.com
↓Aave v2 Ethereum: Disable Borrowing on Volatile Assets
Recent market events and liquidity contraction have heightened volatility risks for USDP, prompting a disable of borrowing to reduce exposure while allowing deposits.
Markets
Token Usage
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Yields
Showing 10 of 12 pools
Pool | Project | Chain | 30d APY Chart | ||||||
|---|---|---|---|---|---|---|---|---|---|
| open in new tabUSDP-CSBUSDC | $964,256 | 1.60% | 1.60% | 1.43% | |||||
| open in new tabUSDP-GAMIUSDC | $574,821 | 12.86% | 1.86% | 10.99% | 13.30% | ||||
| open in new tabUSDP-USDC | $150,858 | 0.04% | 0.04% | 0.17% | |||||
| open in new tabWETH-USDP2.00% | $102,800 | 89.01% | 89.01% | 1081% | |||||
| open in new tabUSDP-3CRV | $48,900 | 0.01% | 0.01% | 0.02% | |||||
| open in new tabUSD₮0-USDP0.01% | 🪂 | $41,985 | 0.03% | 0.03% | 0.08% | ||||
| open in new tabUSDP-3CRV | $25,478 | 0.01% | 0.01% | 0.03% | |||||
| open in new tabYCDAI-YCUSDC-YCUSDT-USDP | $16,850 | 1.50% | 1.50% | 0.23% | |||||
| open in new tabFRAX-USDP | $11,277 | 0.04% | 0.04% | 0.18% | |||||
| open in new tabFRAX-USDP | $11,194 | 0.04% | 0.04% | 0.19% |
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