Orki USD (USDK) stablecoin analytics
Answer First
What is Orki USD (USDK)?
USDK was Orki's Liquity v2-style CDP stablecoin on Swellchain, frozen after the underlying chain shutdown in June 2026. The static profile records its US Dollar peg mechanism as: Overcollateralized CDP with Liquity v2-style user-set interest rates and direct on-chain redemption for underlying collateral; Stability Pools absorb liquidations per collateral market
Is USDK safe?
Orki USD is a frozen Pharos archive, not a current safety endorsement. The archived static profile records a Decentralized (DeFi) governance model, Crypto-Collateralized backing, curated reserve profile, and notes that freeze or administrative control exposure is possible but not fully confirmed.
Static Profile
Static stablecoin profile
Orki USD (USDK) static profile: governance model Decentralized (DeFi); backing model Crypto-Collateralized; peg US Dollar.
AI summary / Updated Aug 11, 2026
Orki's USDK brought Liquity V2-style CDP mechanics to Swellchain, minted against WETH, weETH, rswETH, and swETH. Branch assignments are immutable, the protocol has no individual admin mint path, and collateral redemption is permissionless. This is the full Liquity ethos in miniature. The purity turned out to be the trap: Swellchain closed its bridge-withdrawal window on June 23, 2026 and ended chain operations on June 30, and an immutable protocol had no way to follow its users anywhere else. USDK never had a...
AI summary · drafted by claude-fable-5 · facts as of Aug 11, 2026
- Collateral
- WETH, weETH, rswETH, and swETH in overcollateralized Liquity v2-style CDP markets on Swellchain; the configured SWELL branch is currently shut down in live on-chain telemetry
- Peg Mechanism
- Overcollateralized CDP with Liquity v2-style user-set interest rates and direct on-chain redemption for underlying collateral; Stability Pools absorb liquidations per collateral market
- Jurisdiction
- Not disclosed in the static profile.
- Proof Of Reserves
- No proof-of-reserves entry in the static profile.
- Contracts
- 1 deployment tracked across Swellchain.
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 Aug 11, 2026.
USDK quick answers
What is Orki USD (USDK)?
USDK was Orki's Liquity v2-style CDP stablecoin on Swellchain, frozen after the underlying chain shutdown in June 2026. The static profile records its US Dollar peg mechanism as: Overcollateralized CDP with Liquity v2-style user-set interest rates and direct on-chain redemption for underlying collateral; Stability Pools absorb liquidations per collateral market
Is USDK safe?
Orki USD is a frozen Pharos archive, not a current safety endorsement. The archived static profile records a Decentralized (DeFi) governance model, Crypto-Collateralized backing, curated reserve profile, and notes that freeze or administrative control exposure is possible but not fully confirmed.
What backs USDK?
Pharos classifies USDK backing as Crypto-Collateralized. Collateral, per the static profile: WETH, weETH, rswETH, and swETH in overcollateralized Liquity v2-style CDP markets on Swellchain; the configured SWELL branch is currently shut down in live on-chain telemetry Reserve evidence: curated reserve profile.
Can USDK be frozen or blacklisted?
Based on tracked contract metadata and blacklist coverage, freeze or administrative control exposure is possible but not fully confirmed. USDK is a frozen Pharos archive; the recorded history below is read-only.