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Guide

How to monitor stablecoin depegs

Add the Stablecoin risk widget. It lists the largest stablecoins with price, distance from peg, supply, yield, top chains and a risk flag, all from DefiLlama. Then put a Price alert below $1 on the coin you hold, and a slip off the peg reaches you as a notification instead of a headline.

Step by step

  1. 1

    Open the Stablecoin Risk template

    The Stablecoin Risk template sets up the risk monitor, stablecoin flows, spot DEX volume and settlement networks in one go. It lives in the Boards panel under New from template.

  2. 2

    Read the peg

    The peg reading shows how far each coin trades from $1. A few hundredths of a percent is noise. The risk flag turns Watch at 0.5% off peg and High at 2%.

  3. 3

    Check supply and chains

    Supply falls when holders redeem, so a sharp drop also raises the flag: 5% in a day is Watch, 20% is High. Top chains shows where each coin is concentrated.

  4. 4

    Set a depeg alert

    Add an Alert, leave the metric on Price, pick USDC, USDT, DAI or USDE from the list, choose Below and type 0.99. Press Arm and allow notifications.

  5. 5

    Set the row count

    Select the risk widget to choose how many stablecoins it shows, from 5 to 25.

Tips

  • In March 2023 USDC traded as low as about 87 cents after Circle disclosed $3.3 billion of reserves stuck at Silicon Valley Bank. A 0.99 alert would have fired early in that slide.
  • Yield comes from the largest single-asset pool by TVL for each coin. Smaller pools for the same coin can pay a very different rate.
  • A depeg alert in a browser tab stops when the tab closes. The desktop app keeps checking while minimized, which matters for a slide that starts overnight.

Widgets used

Terms in this guide

Frequently asked questions

What counts as a stablecoin depeg?

A stablecoin trading meaningfully off its target, usually $1, for longer than a brief blip. Cashboard shows the gap and flags it at 0.5% and 2%. How serious that is for your position is your call.

Where does the stablecoin data come from?

DefiLlama's public stablecoin data feeds the risk monitor, and the price alert reads a CoinGecko quote. Both show how fresh their data is, so a stale peg reading does not pass for a live one.

Last reviewed . Market data in Cashboard comes from the providers named on each widget and may be delayed. Nothing here is financial advice.