---
title: "Asymmetry USDaf (USDaf) Stablecoin Analytics"
canonical: "https://pharos.watch/stablecoin/usdaf-asymmetry/"
description: "Build-time stablecoin profile for Asymmetry USDaf (USDaf). Live price, supply, peg, liquidity, and flow data are served by the Pharos API."
dateModified: "2026-05-15"
---



# Asymmetry USDaf (USDaf)

**Peg:** US Dollar

**Backing:** Crypto-Collateralized

**Governance:** Decentralized (DeFi)

**Status:** active

## Overview

an immutable Liquity V2 CDP minted from yield-bearing stablecoin and BTC collateral, structurally pure but $1.04M small and trading at $0.986. USDaf achieves what almost no stablecoin can claim: immutable contracts and a perfect governance score, built on Liquity V2 as a {{term:cdp}}CDP{{/term}} with collateral drawn from the {{term:yield-bearing}}yield-bearing{{/term}} stablecoin canon — 65% ysyBOLD, 23% scrvUSD, 7% sUSDS, and scraps of tBTC, sfrxUSD, and WBTC — relying on conservative {{term:overcollateralization}}overcollateralization{{/term}}. The B- safety grade at 66 is a significant upgrade from the C it held last month, though the price of recursive decentralization remains steep: $1.04M in circulation (down 33% from last month), 103 depeg events, and a current price of $0.986 that suggests the Liquity V2 {{term:redemption}}redemption{{/term}} floor around $0.995 isn't always reached in practice. The 82-rated permissionless collateral-redemption backstop is structurally sound and {{term:liquidation}}liquidation{{/term}} mechanics inherit Liquity's battle-tested design, and six DEX pools provide more coverage than a million-dollar stablecoin typically deserves. USDaf is the purest expression of trustless stablecoin design currently live — and also a reminder that the market values liquidity over ideology.

## Collateral

wBTC, tBTC, sUSDS, sfrxUSD, scrvUSD, and ysyBOLD in immutable overcollateralized CDP markets on Ethereum

## Peg Mechanism

Overcollateralized CDP with Liquity v2-style redemptions and user-set interest rates; the hard redemption floor is effectively $0.995 because Liquity v2 deployments include a 0.5% fee floor

## Contracts

| Chain | Address | Decimals |
| --- | --- | --- |
| ethereum | `0x9cf12ccd6020b6888e4d4c4e4c7aca33c1eb91f8` | 18 |

## Live Data

Real-time price, supply, peg score, liquidity, and flow data live at https://api.pharos.watch/api/stablecoin/usdaf-asymmetry.