# Stablecoin Peg Tracker and Depeg History

> Stablecoin depeg tracker: on-chain prices of major stablecoins from DEX pools and oracles, how far each trades from its peg and a dated history of depegs.

Markdown copy of https://voltfincrypto.com/apps/stablecoin-peg-depeg-tracker

**Question:** Is any major stablecoin trading away from its peg on-chain right now, and how deep were past depegs?

- Kind: Dashboard in Voltfin Vantage
- Topic: [Stablecoins](https://voltfincrypto.com/topics/stablecoins)
- Chains: Multi-chain, Ethereum, Base, Arbitrum, Solana
- Status: Planned. The data is not published yet, so this page states no figure; each figure will open its receipt when it is.

A stablecoin is only as good as its peg. This dashboard reads the on-chain price of each major stablecoin from deep DEX pools and oracle feeds, shows how far each one trades from its peg right now and keeps a dated record of every depeg with how deep it went and how long it lasted.

Prices come only from the chain: the balances, quotes and swaps of decentralized exchange pools, plus the oracle feeds lending markets rely on. A coin can trade below its peg in one thin pool while holding it elsewhere, so each price names its venues and is weighted by their liquidity. A coin counts as off its peg only when the deviation lasts.

Check the now page for any coin outside its band, then the history page for past events, their depth and the supply that was redeemed during them. Every price opens the pool reads and blocks behind it.

## Blueprint

### Now

Each coin's on-chain price and distance from its peg at the latest hour.

- **Coins off their peg** (count): Tracked coins whose liquidity-weighted price has been more than one percent from the peg for the last full hour.
- **Largest deviation now** (%): How far the tracked coin furthest from its peg trades from it at the latest hour, named on the tile.
- **Coins tracked** (count): Stablecoins with enough on-chain liquidity to be priced from pools at the latest hour.
- **Depegs, last 90 days** (count): Depeg events that started in the last ninety days, by the one-hour, one-percent rule.
- **Peg by coin**: Each coin's pool price, oracle price, deviation from peg, pool depth used and the venues behind it, at the latest hour.
- **Hourly price of the selected coin** (USD): The selected coin's liquidity-weighted pool price and oracle price by hour over the period, with the peg band drawn.

### Depeg history

Every recorded depeg with its depth, its length and the supply redeemed.

- **Deepest recorded depeg** (%): The lowest hourly price relative to peg in any recorded event, named with its coin and date.
- **Longest recorded depeg** (hours): The longest event in the record, from its first to its last hour outside the band.
- **Supply redeemed during depegs** (USD): Net burns of each coin during its depeg windows, showing how much holders redeemed while it was off its peg.
- **Every depeg**: Each event's coin, start, end, depth, length, venues and net supply change, with receipts.

Filters: Coin (Every tracked stablecoin); Period (Last 7, 30 or 90 days, or all history).

## How it will be measured

- Each coin's price is read from its deepest pools at hourly blocks: Curve get_dy quotes for a fixed trade size and Uniswap v3 and v4 pool prices from slot0, weighted by each pool's liquidity.
- Pool prices are quoted against USDC or USDT, so those two are themselves checked against Chainlink stablecoin feeds, which are shown beside pool prices and labelled because they can lag a fast move.
- A depeg starts when the liquidity-weighted price stays more than one percent from the peg for a full hour and ends when it returns inside that band; its depth is the lowest hourly price in between.
- Supply change during a depeg comes from the coin's mint and burn events in that window, showing how much holders redeemed.
- Prices are pinned to the blocks they were read at; no exchange order book or off-chain price enters the figures.

## Data it needs

- `stablecoin_pegs_daily` (to build): How far each stablecoin trades from its peg, from DEX pool prices and on-chain oracle feeds, with the deepest deviation of each day.
- `dex_liquidity_daily` (to build): Liquidity held by each DEX pool at day end, in tokens and valued in USD, with fee tier and pool age.
- `native_prices_daily` (to build): Reference prices of major assets read from on-chain oracle feeds (Chainlink latestRoundData) at each day's last block, with each round's update time.
- `stablecoin_flows_daily` (to build): Stablecoin mints, burns, transfer volume and active addresses per stablecoin and chain per day.
- Source: Curve StableSwap get_dy quotes and balances of each coin's deepest pools at hourly blocks
- Source: Uniswap v3 and v4 slot0 prices and Swap events of stablecoin pools paired with USDC or USDT
- Source: Chainlink stablecoin-to-USD feeds: latestRoundData and AnswerUpdated events
- Source: Mint and burn events of each coin during depeg windows

## Questions

### What is a stablecoin depeg?

A depeg is when a stablecoin trades meaningfully away from the value it is meant to hold, usually below it, because holders want to sell more than buyers or redemptions can absorb. Brief, small deviations are normal; a depeg is a deviation that is large and lasts.

### Is USDT depegging right now?

The now page answers that for USDT and every other tracked coin from the latest hour: its liquidity-weighted pool price, its oracle price and whether it is outside its band. A single thin pool can show a lower price without the coin being off its peg.

### Can a stablecoin depeg on one venue only?

Yes. During a market shock one exchange's order book or one pool can run out of buyers while others hold the peg, so the price there falls far below it for minutes. A lasting gap across many deep pools is a stronger signal than a single low print.

### Why do on-chain prices differ from exchange prices?

Pools and order books are separate markets. Arbitrage keeps them close, but under stress a pool can move first or further, especially when one side runs short of liquidity. This dashboard reports only on-chain venues and names them.

### What happens to supply during a depeg?

Holders who can redeem with the issuer often do, so supply tends to fall during and after a depeg. The history page shows each coin's net mints and burns in every event's window.

## Glossary

- **Peg**: The value a stablecoin is designed to hold, such as one US dollar, usually backed by the issuer's promise to redeem at that value.
- **Liquidity-weighted price**: An average of pool prices in which deeper pools count for more, so one thin pool's outlier moves the figure little.

## Related apps

- [Ethena USDe Supply and sUSDe Yield](https://voltfincrypto.com/apps/ethena-usde-supply-susde-yield)
- [USDT and USDC Mint and Burn Tracker](https://voltfincrypto.com/apps/usdt-usdc-mint-burn-tracker)
- [Stablecoin Market Cap and Total Supply](https://voltfincrypto.com/apps/stablecoin-market-cap)
- [Stablecoin Market Monthly Review](https://voltfincrypto.com/apps/stablecoin-monthly-review)
- [Stablecoin Market Share by Issuer](https://voltfincrypto.com/apps/stablecoin-market-share-by-issuer)
- [Stablecoin List Ranked by Circulating Supply](https://voltfincrypto.com/apps/stablecoin-list-by-circulating-supply)

Build it in Voltfin Studio: https://app.voltfincrypto.com/signup?next=%2F