
Pharos Sees Everything: honest classification, peg tracker. safety ratings, portofolio review, depeg warning system & more. By @TokenBrice & @Ikebillion_
Joined February 2026
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Version 9 of our Safety Score is now fully deployed and operational, introducing a new 3-dimensions framework
1. Backing: does this thing have value to begin with?
2. Control: even if the box is full, can something destroy it anyway?
3. Exit: fine, but can I actually leave?
We are live now. 🚨
Tune in!
xitter.cf/i/spaces/1pKkOXwLLVBKj…
🎙️X Space Announcement
Pharos x Dwellir: How Enterprise RPC Infrastructure Powers Real-Time Stablecoin Risk Research.
We are breaking down the @DwellirOfficial sponsorship integration with Pharos Watch and what it means for how we collect, verify, and interpret stablecoin data at scale.
Joining us: @TokenBrice, Founder of Pharos, and @eliasfaltin, Head of Product at Dwellir.
Today, Oct 19
2:00pm CEST
Set your reminder.
🎙️X Space Announcement
Pharos x Dwellir: How Enterprise RPC Infrastructure Powers Real-Time Stablecoin Risk Research.
We are breaking down the @DwellirOfficial sponsorship integration with Pharos Watch and what it means for how we collect, verify, and interpret stablecoin data at scale.
Joining us: @TokenBrice, Founder of Pharos, and @eliasfaltin, Head of Product at Dwellir.
Today, Oct 19
2:00pm CEST
Set your reminder.
USDe APY Falls On Every Print
$USDE's APY printed lower on all seven days, from 4.91% to 4.81%, as its market cap slid to $4.68B. PSI stayed in BEDROCK, rising to 92.8, while the Bank Run Gauge midpoint moved to -12.5 from -1.8.
See the map.
FDUSD Burns As Gauge Eases (#237)
$FDUSD net burned $9.98M at a -100 pressure reading while the Bank Run Gauge improved to -11 from -14.9. Next trigger: a $35M XAUT supply session after today's +$27.92M.
See the map.
apxUSD Widens To 252 Bps (#236)
$APXUSD traded at $0.975, 252 bps below peg on $301.78M of market cap, up from 137 bps a day earlier and 45 bps short of its episode peak. The Bank Run Gauge sits at -14.9.
23 active stablecoin depegs are currently tracked and monitored live on Pharos.
The worst deviation right now is USDX at 3,400 bps, trading at $0.66. Four assets are currently on DEWS Alert.
Our Depeg Duration Resolver, which has called 81% of recovery outcomes correctly, predicts only one of those 23 will 'likely' recover.
USDT Sheds $824M In A Week (#234)
$USDT supply fell $824.16M in seven days, under half a percent of its float, while USDA (alpha partner) widened to 264 bps from 89. Next trigger: a $45M one-day move in PYUSD.
See the map.
USDC Adds $76M Against The Week (#233)
$USDC added $76.19M in a day after its market cap fell $1.03B over seven days. msUSD widened to 1,150 bps below peg; the next marker is a $25M XAUT session.
See the map.
“A stablecoin might be really cool but you need to be able to get in and get out without losing in the process.”
Our founder @TokenBrice sits down with @defi_milos to discuss stablecoins, what to watch out for, what actually makes a stablecoin work, including how Pharos evaluates safety and spots warning signs before things go wrong.
DeFi users need to understand stablecoins.
Super excited to welcome @TokenBrice from @PharosWatch as my first whiteboard guest!
From @LiquityProtocol's decentralized stablecoins to the mechanisms keeping stables safe - and how to utilize those insights on @DeFiSaver
As an expert stablecoin researcher - Brice takes us through the different stablecoin models, the risks behind them, and what users should actually look for when evaluating their safety.
We also take a closer look at:
-> Why many supposedly decentralized stablecoins still rely on centralized entities
-> How governance, multisigs, collateral composition and redemption mechanisms can make or break a stablecoin
-> How Pharos evaluates stablecoin safety and identifies warning signs before things go wrong
-> Real-world examples, including $USDG, $crvUSD and Liquity's $LUSD and $BOLD
A great conversation for anyone looking to better understand the stablecoins they're using.
pmUSD Narrows To 3,379 Bps (#232)
$PMUSD sits 3,379 bps below peg at $0.662, 164 bps tighter on the day, while the DEWS ALERT count fell to 4 from 10. A $165M USDC session would turn its daily reversal into rotation.
See the map.
USDe Yield Flag Holds As Supply Slips
$USDE held the week's top yield flag at 5.03% APY as its market cap slid to $4.75B. USDC was the largest supply mover on five days, -$1.15B on a trailing basis. PSI stayed BEDROCK, 88.6 to 92.5.
See the map.
AUSD Leads Three Flow Shifts (#230)
$AUSD's pressure score hit -98 and USD1's -82 on $6.84M of combined net burns, while the Bank Run Gauge fell to -13 from -3. A print at -15 or lower makes flow stress the next lead.
See the map.
GENIUS Act coverage just reached every active stablecoin on Pharos.
Our remaining highlights of the week were:
- Safety Score advanced from 10.04 to 10.16 across twelve releases, including authenticated CCIP and LayerZero OFT bridge reading.
- Eight failure scenarios are now live on coin pages for USDS, crvUSD, USDC, GHO, USDe, USDT, USD1, and LUSD.
- Coin pages rebuilt around Safety Score pillars. Unavailable data now shows as unavailable, not zero.
- Plus new reserve readers, retired yield collectors, and publication scheduling improvements.
- Our registry expanded from 409 to 488 tracked assets, led by 66 active and 11 pre-launch additions.
New Asset Listing: OUSD by @openstandard is now live on Pharos.
All data across liquidity, yield, safety, exit, and market activity are now available on Pharos.
Open USD is a USD-pegged stablecoin backed by a consortium of 140+ partners including Visa, Mastercard, Stripe, BlackRock, and Coinbase with reserve earnings going to partners by default.
Track OUSD live on Pharos.
pharos.watch/stablecoin/ousd…
USDC's Burn Slows To $13.42M (#229)
$USDC is down $1.10B on the week, but the last day took only $13.42M while USDD net minted $199.43M. A Bank Run Gauge print of -15 or lower would shift the story to flow stress.
See the map.
















