About this explorer

Asymmetry Finance issues USDaf, a dollar-tracking stablecoin that is borrowed into existence. A borrower opens a Trove — a collateralised loan — against one collateral type and sets its interest rate. Paying a higher rate buys protection: redemptions, the mechanism that holds USDaf at a dollar by paying off the lowest-rate loans first, reach those Troves last.

This explorer covers seven collateral types: ysyBOLD, scrvUSD, sUSDS, sfrxUSD, tBTC and WBTC18 from USDaf's collateral registry, and cbBTC18 from Asymmetry's first deployment. Asymmetry's docs count eight collateral assets. The first deployment's registry lists eight (scrvUSD, sDAI, sUSDS, sfrxUSD, sUSDe, tBTC, WBTC18 and cbBTC18); of those, only cbBTC18 is covered here.

A redemption that cancels enough debt to drop a Trove below its branch's 2,000 USDaf minimum turns it into a zombie: out of the rate-ordered redemption queue until the owner borrows it back above the floor. The branch's most recent zombie is the first Trove the next redemption on the branch reaches.

A borrower can delegate their rate to a batch manager instead of setting it themselves — the manager then sets and moves the rate for every Trove in the batch at once, one delegated decision managing many Troves' place in the redemption queue.

Opening a Trove sets aside a fixed 0.0375 WETH liquidation reserve, apart from the collateral: it funds the gas paid to whoever liquidates the Trove, and comes back to the owner when the Trove closes.

Each row of the listing is one Trove: its collateral, its USDaf debt, its collateral ratio, its dollar value, the rate its owner or their batch manager set, and its status. Or compare the branches and their redemption queues.