PolarisTestnet

Markets

Chain snapshot · 11,958,772

The two markets

USDp marketmints USDp, tracking the dollar

Collateral in positions, now

87.0K pETH

$647,003,238.78 · the market’s own total, PSM shares included

Debt across positions, now

318.1M USDp

the market's own total, PSM shares included

Rate in force

3.51%

primary 2.02% + secondary 1.49%

Mode

normal· reserve-to-debt 1.79

Minimum ratio in force

115%

Stability pool

57.2M USDp

each USDp deposited when the pool opened is now worth 0.8492824086 USDp; the rest paid off liquidated debt and came back to the depositor as pETH

pETH in USDp

7,434.117 USD

pETH in ETH

3.0379 ETH

ETH/USD

$2,447.09

The book, as indexed

Positions

76350· 61245 open, 15042 closed, 63 liquidated

Open positions, at their last touch

83.6K pETH·319.2M USDp

each position as its last touch wrote it; the market's totals above add what is pending since

PSM

39126 mints · 22343 redemptions

direct USDp mints and redemptions against pETH, shared by every open position

Liquidations

Stability pool operations

133233

deposits, withdrawals and gain claims

Browse the USDp positions.

GOLDp marketmints GOLDp, tracking gold

Collateral in positions, now

63.8K pETH

$474,575,933.93 · the market’s own total, PSM shares included

Debt across positions, now

57.6K GOLDp

the market's own total, PSM shares included

Rate in force

2.03%

primary 0.52% + secondary 1.51%

Mode

normal· reserve-to-debt 1.77

Minimum ratio in force

115%

Stability pool

12.1K GOLDp

each GOLDp deposited when the pool opened is now worth 0.948347665 GOLDp; the rest paid off liquidated debt and came back to the depositor as pETH

pETH in GOLDp

1.807 oz gold

pETH in ETH

3.0379 ETH

ETH/USD · XAU/USD

$2,447.09·$4,113.78

The book, as indexed

Positions

64485· 50185 open, 14272 closed, 28 liquidated

Open positions, at their last touch

62.1K pETH·59.2K GOLDp

each position as its last touch wrote it; the market's totals above add what is pending since

PSM

38341 mints · 12192 redemptions

direct GOLDp mints and redemptions against pETH, shared by every open position

Liquidations

Stability pool operations

123832

deposits, withdrawals and gain claims

Browse the GOLDp positions.

Both markets mint against the same collateral, pETH, which ETH buys from the protocol’s bonding curve at a price that rises as ETH enters it. They differ in the unit they price it in: USDp values it through the ETH/USD medianiser, GOLDp through ETH/USD and XAU/USD, so a GOLDp debt is a claim on ounces of gold. A medianiser takes the median of the oracles it reads. The rate is a primary rate, which moves with the PSM’s mints and redemptions, plus a secondary rate that rises with the market’s debt-to-reserve ratio. A market whose reserve-to-debt ratio falls below 1.10 enters defensive mode and its minimum rises to 150%. The stability pool is what absorbs a liquidation’s debt. Reserve loans, which lend ETH against fpETH, are captured by the index but not shown here. fpETH is the floor part of pETH: the component whose price in ETH the protocol guarantees can only rise, which is why a loan against it cannot be liquidated.