SILK (SILK) quarantined stablecoin record
Live tracking temporarily paused
Upstream CoinGecko/DefiLlama circulating supply for SILK has been invalid (roughly 12x understated) since 2026-08-05, blocking the exact active supply-publication contract; owner decision of 2026-08-18 withholds SILK from the active set until the upstream source recovers.
Effective 2026-08-18; review due 2026-09-18; DefiLlama stablecoin detail for SILK
Answer First
What is SILK?
SILK is Shade Protocol's basket-pegged stable on Secret Network, tracking a GDP-weighted currency basket and overcollateralized through ShadeLend CDP vaults. The static profile records its CPI-denominated NAV accounting mechanism as: NAV tracks a governance-set basket of global currencies and commodities (currently USD ~33.5%, EUR ~22.9%, Gold ~18.7%, JPY ~11.1%, CAD ~7.5%, BTC ~6.3%) priced via Band Protocol feeds, with weights selected on GDP, monetary-policy health...
Is SILK safe?
SILK is not in Pharos's active universe. Upstream CoinGecko/DefiLlama circulating supply for SILK has been invalid (roughly 12x understated) since 2026-08-05, blocking the exact active supply-publication contract; owner decision of 2026-08-18 withholds SILK from the active set until the upstream source recovers.
Static Profile
Static stablecoin profile
SILK (SILK) static profile: governance model Decentralized (DeFi); backing model Crypto-Collateralized; peg CPI-denominated NAV.
AI summary / Updated Sep 7, 2026
SILK is still the most conceptually ambitious basket stablecoin on Pharos: a GDP-weighted basket of major currencies, gold, and bitcoin, defended by overcollateralized CDP vaults, running natively on Secret Network's privacy chain. It is also, on inspection, a nineteen-vault lending book priced through a single oracle provider with no failover and an empty deviation-guard list. The finding that matters sits in the WBTC vault, second-largest at 18.3% of ShadeLend's elastic debt: it is governance-frozen against...
AI summary · drafted by claude-fable-5-1 · facts as of Sep 7, 2026
Sources: DefiLlama stablecoin detail for SILK
- Collateral
- DAO-whitelisted assets locked in overcollateralized ShadeLend vaults; current collateral identities, balances, and weights are private on Secret Network
- Peg Mechanism
- NAV tracks a governance-set basket of global currencies and commodities (currently USD ~33.5%, EUR ~22.9%, Gold ~18.7%, JPY ~11.1%, CAD ~7.5%, BTC ~6.3%) priced via Band Protocol feeds, with weights selected on GDP, monetary-policy health and growth and adjustable through SILK Assembly peg migrations; stability maintained via overcollateralized ShadeLend minting, bounded conversion minting, redemption pools, collateral redemptions/liquidations, and ShadeDAO bonds
- Jurisdiction
- Not disclosed in the static profile.
- Proof Of Reserves
- No proof-of-reserves entry in the static profile.
- Contracts
- 1 deployment tracked across Secret Network.
Next Actions
This record preserves static and historical context; live actions are available only for active assets.
Source: checked-in StablecoinMeta profile fields. This inactive record does not participate in current live monitoring; the summary above was last updated Sep 7, 2026.
SILK quick answers
What is SILK?
SILK is Shade Protocol's basket-pegged stable on Secret Network, tracking a GDP-weighted currency basket and overcollateralized through ShadeLend CDP vaults. The static profile records its CPI-denominated NAV accounting mechanism as: NAV tracks a governance-set basket of global currencies and commodities (currently USD ~33.5%, EUR ~22.9%, Gold ~18.7%, JPY ~11.1%, CAD ~7.5%, BTC ~6.3%) priced via Band Protocol feeds, with weights selected on GDP, monetary-policy health...
Is SILK safe?
SILK is not in Pharos's active universe. Upstream CoinGecko/DefiLlama circulating supply for SILK has been invalid (roughly 12x understated) since 2026-08-05, blocking the exact active supply-publication contract; owner decision of 2026-08-18 withholds SILK from the active set until the upstream source recovers.
What backs SILK?
Pharos classifies SILK backing as Crypto-Collateralized. Collateral, per the static profile: DAO-whitelisted assets locked in overcollateralized ShadeLend vaults; current collateral identities, balances, and weights are private on Secret Network Reserve evidence: curated reserve profile.
Can SILK be frozen or blacklisted?
Based on tracked contract metadata and blacklist coverage, issuer or admin freeze controls are recorded. SILK is outside active monitoring; this static record preserves the reviewed control context.