Executive Summary
MSUSD widened 927 bps in a day to 5,070 bps off peg, $0.493 on $23.7M of supply, Safety score 0. RLUSD added $271M in a week and lost eight points of DEX liquidity score while its pool TVL rose.
MSUSD trades at $0.493, 5,070 basis points below peg and 927 bps wider than the previous edition, within 491 bps of its 5,561 bps peak. Its Pharos Safety score (V9, 3 September) reads 0: no published reserve composition, no same-notional redemption route. pmUSD widened on the same tape, to 4,953 bps at $0.505. Two coins holding $71.1M between them are now trading near half of par.
Supply and depth. RLUSD added $270.73M over seven days to $2.38B, a market cap at its Digest-window high and short of the record $360.84M week set ten days ago. Its DEX liquidity score fell from 56 to 48 while pool TVL rose 1.9% to $154.56M on mixed coverage; the TVL change alone accounts for roughly +0.1 points, so the composite decline came from the other components.
PSI reads 91.7, a 72nd consecutive day in BEDROCK, with severity at 0.03 despite 19 active depegs; the index weights by market cap and the stressed names are small. Four coins sit at ALERT in DEWS, none above $31M. PYUSD ran $54.40M of net flow in 24 hours at maximum pressure intensity: if the Bank Run Gauge drops from -10.1 to -20, flow stress replaces peg stress as the lead signal.