COINx

Terms

What is posted on chain right now, signed by the Kerb attester inside the contract guardrails.

Regime

Stale

The sources the mark needs are too old to price against.

Credit Mark

191.631258

band 189.7775 to 199.2875

Carry LTV

40.00%

The ceiling a position can be drawn to and still be safe to hold through the next weakening.

Session Max LTV

45.00%

Only available while the session holds, and only with the cure covenant attached.

Debt ceiling

4,910.13

In USDG, the total debt this asset may support.

Executable depth at 1%

6,660.27

The notional that can be sold into the real pools for at most 1% impact, in USDG.

Usable for new risk

no — stale or halted

Posted 2026-09-21 09:35 UTC, 5m 09s ago. transaction

Input bundle

0x75f59283…a49c75ec

The keccak256 of the canonical inputs, posted on chain with the report. Every number above is computed from these exact bytes, served by the Kerb API. This one is not on IPFS: pinning is being refused right now, and that is reported on the proof page rather than hidden. Recompute them yourself: pnpm --filter @kerb/engine kerb verify 0x75f59283eeb249db058dc329bad0cdc0bde19aa0a73a2a62b7efc131a49c75ec

Executable depth

Simulated by walking the real pool tick by tick, in the direction of a sale, from the pool state Kerb observed. Not an aggregator estimate.

Aggregate depth

6,728.78 at 1%

C(0.5%) 2,949.23 · C(3%) 22,328.54 · fragmentation factor 0.8 applied across eligible venues.

Cross-check

6,728.78

simulated 6,728.78 against okx-dex:v6-quote 11,788.23, a difference of 42.919%

The two disagree beyond the configured maximum, so the smaller number is used. Kerb never takes the larger.

Excluded venues

wCOINx → USDG: dust: C(1%) 0.022839 below minVenueC1 100

Every exclusion is recorded with its reason. A venue is never silently dropped.

How the Credit Mark was made

The conservative minimum of the reference median and the pool price, after the dispersion guard and the regime haircut. Every component names its sources.

Reference

199.287500

Sources used: xstocks:price-data, yahoo:chart:COIN

Pool

204.509152

Spot along 0x7013…F6D5

Dispersion

2.620%

Beyond the guard: the mark is forced conservative.

Regime haircut

3.810%

Credit Mark

191.694487

Band 189.777542 to 199.287500. USDG is treated as 1 USD; the USDG peg is observed separately and reported

Next transitions

Resolved from the Kerb calendar, kerb-calendar@0.1.0 (2025-12-01..2027-12-31). The onchain KerbClock is equivalence-tested against this same resolver.

Session now

PRE

XNAS · America/New_York · since 2026-09-21 08:00 UTC

Next transition

session open

2026-09-21 13:30 UTC · in 3h 49m

Next weakening

session close

2026-09-21 20:00 UTC

The deadline a Session Max position must cure by.

Last Call window

closed

2026-09-21 19:00 UTC to 2026-09-21 20:00 UTC · 1h 00m long

Terms history

Every post Kerb has made for this asset, newest first, each one a transaction.

Scroll the table sideways for capacity and the transaction.