Executive Summary
SUSD added 137 bps of distress overnight to 6745 bps off peg, $0.325 in coin form; LISUSD shed 72% of its TVL in a single day. PSI still prints BEDROCK 92.7.
SUSD slipped to 6745 bps below peg, $0.325 in coin form, after holding at 6608 bps yesterday. The $17.39M market cap keeps it small, but the threshold rule applies at 5000 bps on $10M: ignoring a 67% deviation because the bag is light is editorial cowardice. Peak distress was 7233 bps; today's print sits 488 bps from that low and DEWS keeps it at ALERT 41.
Liquidity rotation. USD0 added ten points of DEX depth on a $553M base, and avUSD added fourteen as its TVL more than doubled to $2.58M. LISUSD ran the other way: score down fifteen, TVL collapsing from $17.23M to $4.76M, a 72% evaporation no $75M mid-cap should treat as housekeeping. FDUSD's score climbed thirteen points while its TVL fell, which usually means a competing pool got worse faster.
PSI prints 92.7, fifth straight BEDROCK day, while pmUSD narrowed from 3328 to 2576 bps and apxUSD's 1059 bps event resolved into the cleared pile. The regime is calm; the constituents are not. If pmUSD pushes back to 2975 bps at tomorrow's snapshot, yesterday's narrowing reverses into fresh stress, and the eight ALERT-band coins gain a sixth chronic case for the babysitter rota.