Executive Summary
PMUSD held 3470 bps below peg as RLUSD and USDTB liquidity scores jumped to 70 while USD0 and bUSD0 lost double digits. Next trigger: 4000 bps off peg.
PMUSD held 3470 bps below peg at $0.653, narrowing a token 27 bps in 24 hours on $66.82M of stranded mcap. At 919 hours into the dislocation it has settled into the slow-rot phase, where the deviation no longer makes headlines but the chart refuses to climb. DEWS still rates it ALERT on cross-source divergence of 100.
Liquidity Split. RLUSD's score jumped 59 to 70 on $1.67B mcap, USDTB went 62 to 70 on $1.06B. The inverse showed up on USD0, down 14 points, and bUSD0, down 12, both with TVL unchanged, meaning venues moved against them rather than capital walking out. LISUSD was the only real TVL story, quadrupling to $18.58M.
PSI sits at 92.1, second day back in BEDROCK after a two-day STEADY dip, while USDT shed $1.29B over the week to $186.81B, 2% below its April ATH. Next trigger: PMUSD at 4000 bps off peg converts today's stalemate into a stronger stress signal, and PSI under 90 flips tomorrow's frame from regime to active deterioration.