Executive Summary
SUSD trimmed 34 bps to 7,037 below peg while apxUSD widened into ALERT and YLDS shed half its DEX score. PSI eased to 91.5, six-day low. Trigger sits at 8,100 bps.
SUSD trimmed 34 basis points off its discount to land at 7,037 bps below peg, the kind of movement that rounds to zero on a $15.76M float. The 5,433-hour vigil at $0.296 continues. The deterministic threshold sits at 8,100 bps; until then, this position is a fixture rather than a signal, and the day's real movement happened elsewhere.
apxUSD widened from 1,020 to 1,168 bps and rotated WATCH to ALERT on cross-source divergence, with $18.91M burned against a $344M cap. USDA logged four separate sub-3-hour depegs that each recovered, a metronome of small failures on $83M of supply. DEWS now carries 8 ALERT names totaling $3.00B mcap, the breadth that matters more than any single name on the board.
Liquidity split. RLUSD's DEX score jumped 50 to 62 on $1.63B mcap while YLDS halved from 63 to 47 as TVL collapsed from $32.92M to $7.14M, one issuer adding exit capacity as another loses it. PSI eased to 91.5, the lowest reading in six days of tracking. If SUSD reaches 8,100 bps or PSI cracks 89 next session, the regime frame stops being scenery and becomes the lead.