OrcaPointsOpen at source

0.02%

Current APY

0.05%

7D avg

0.16%

30D avg

$3.0M

TVL

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Strategy overview

Provide USDG/USX liquidity through Orca. Your position earns trading fees when users swap between the two pool assets.

Moderate risk · Grade C

36/100

USX's backing carries more risk than plain cash reserves — synthetic-backed.
USX has slipped off its target price before — that history is priced in here.
Control over the protocol's code matters — upgradeable behind a multisig (threshold undisclosed).

Strategy

risk 24/100

Strategy type35
Two-token pool
Leverage0
No leverage.
Yield source40
Yield comes from trading fees.
Pool usage0
Not a utilization-driven product.
Pool size26
~$3.0M pool.
Lock-up & yield stability0
30d APR volatility 0.4pp.

What can go wrong

If either asset loses its peg, the pool can leave you holding more of the weaker asset.
Concentrated positions stop earning fees while the market price sits outside their selected range.
Yield varies with trading volume, fee rates, and any temporary reward emissions.

The assets

risk 51/100

What your deposit is held in, and how steady its value is.

USDG

CG CMC

Backing model10
USDG: fiat-backed.
Peg history8
USDG: worst recorded peg deviation informs this score (2 recorded event(s)).
Issuer size10
USDG: ~$2.7B market cap.
Exit liquidity5
USDG: ~$32.5M DEX depth.
Token age31
USDG: live since 2024.
Freeze authority35
USDG: issuer can freeze token accounts.

These rows show USDG. The overall score counts the weaker token on each measure.

About USDG

Each asset in this position — what it is, how reliable it is, and any past depegs.

USDGGlobal DollarStablecoinPool_a

Low Risk

CG CMC

By Paxos. Regulated dollar stablecoin issued by Paxos (Global Dollar Network), backed by cash and short-term US Treasuries. · Live since 2024

·Worst deviation from $1 peg: 0.24% (tracked window).
·Held its peg 99.8% of the time.

Peg adherence (7d): 99.4%Worst deviation (7d): 0.244%DEX liquidity: $32.6M

Audited: Yes — Attestations

Past depeg events

▼ $1.65 · 2025-01-30 — 65.44% above peg, recovered source
▼ $1.30 · 2025-01-30 — 29.61% above peg, recovered source

Show all 5

▼ $0.93 · 2025-02-28 — 6.80% below peg, recovered source
▼ $1.05 · 2024-11-21 — 5.38% above peg, recovered source
▼ $1.05 · 2024-11-27 — 4.99% above peg, recovered source

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Token notes & warnings

Permanent delegate — This token's owner has the ability to control this token, even if it is in your wallet
Freezable — The authority's owner has the ability to freeze your token account, preventing you from further trading
Mutable transfer fees — This token's transfer fees can be updated by the owner
Mintable — The authority's owner has the ability to mint more tokens

Who runs it

Orca X Docs DefiLlama

risk 21/100

The team and protocol behind this, and their track record.

Provides two-sided liquidity to a stablecoin pair via Whirlpools' concentrated liquidity, earning a share of swap fees while the price stays in the chosen range.

Admin controls45
Upgradeable behind a multisig (threshold undisclosed).
Exploit history0
No known exploits.
Track record0
Live for ~69 months.
Price feeds10
Pool-priced AMM — no external price-feed dependency.
Scale5
$278.1M TVL — limited adoption so far.
Safety reserves · no data40
No disclosed treasury/insurance backstop.
Bug bounty15
Live bug bounty up to $500k.
Audits0
Audited (Neodyme, OtterSec, Kudelski).

How we rate risk

Stablecoin strategies get a 0–100 risk score (lower is safer) built from three areas — Protocol (audits, incident history, track record and admin controls), Strategy (leverage, lock-ups, pool size and yield source) and Asset (the token's peg record, backing, and exit liquidity) — weighted by strategy type — and the weakest area can push the overall number higher (riskier) on its own. The score maps to a grade: A ≤ 22, B ≤ 35, C ≤ 50, D ≤ 70, E above. Grades compare opportunities within our stablecoin catalog — an A is the strongest thing we list (blue-chip stablecoin lending), not a promise of safety. Live events (an active depeg, a reported exploit, a sharp deposit outflow) override the score immediately. Where we lack data, the factor says so and scores cautiously. Non-stablecoin opportunities are not rated. A comparison aid, not advice.

Risk levels are Akashi's own assessment to help you compare opportunities — not financial advice or a safety guarantee. Every DeFi position carries smart-contract and market risk.

Non-custodial · Akashi never holds your funds

USDG-USX LP