Executive Summary
USDY's liquidity score climbed 12 points on $150K of pool change. YLDS lost 78% of TVL and shed only 9. Scores are doing the talking, not pools.
USDY's DEX liquidity score jumped from 36 to 48 while TVL barely budged from $16.18M to $16.33M, a 12-point move on roughly $150K of pool change behind a $2.14B float. The number rose because price confidence or pool balance improved, not because exit capacity did. The float-to-pool ratio still reads near 131x.
The other liquidity moves cut against their TVL prints in the opposite direction. USDf lost 8 score points while adding $840K of TVL; YLDS dropped 78% of its pool, $46.23M down to $10.20M, and shed only 9 points. When score and TVL disagree this often in one session, the scoring inputs are carrying the story, not the pools underneath them.
PSI at 97 marks day 55 of the BEDROCK streak, with breadth at 3.36 and severity at 0.03. USDA sits 157 bps off peg on $271M of mcap, having widened from 200 bps yesterday only on the resolved side; the deterministic trigger fires at 200 bps active. If USDA crosses that line in the next session, the regime frame yields to an active stress read.