---
title: "Scores Rise, Pools Thin"
canonical: "https://pharos.watch/digest/2026-08-20/"
datePublished: "2026-08-20T08:08:06.000Z"
description: "Four DEX liquidity scores rose; only DAI's pool actually grew. USDC's jumped 13 to 78 while its DEX TVL fell $1.23B to $4.17B, and USD0 and FDUSD gained on thin"
---

# Scores Rise, Pools Thin

## Executive Summary

Four DEX liquidity scores rose; only DAI's pool actually grew. USDC's jumped 13 to 78 while its DEX TVL fell $1.23B to $4.17B, and USD0 and FDUSD gained on thinner pools.

## Extended

DAI's DEX liquidity score climbed nine points to 56 on $8.75M of added pool depth, the only honest liquidity gain of the day. Three larger names improved on shrinking pools: USDC's score jumped thirteen to 78 as its DEX TVL fell $1.23B to $4.17B, while USD0 gained fifteen and FDUSD fifteen more, both on thinner pools. The model is applauding what the pools are quietly withdrawing.

PSI held its BEDROCK footing at 94.1, a 58-day streak, while total supply crept to $317.15B, still 0.48% under its window high. USTB led the week with a $697M mint, triple its prior single-week record, and USDC added $507M in a day. pmUSD widened marginally to 4,001 bps below peg at $0.600, no change in its 2,647-hour trajectory.

apxUSD's slow repair continues from its June STRC drawdown, 521 bps off peg against a 3,159 bps low, the rare depeg number moving the right way. USDC's yield already cooled to 9.83% from an 11.07% monthly average, exactly as flagged. The next tell is whether USDC's liquidity score reaches 86 while TVL keeps falling; if it does, the score is grading reputation, not exit depth.