Chain snapshot · block 25,884,727 · the pools’ own figures at that block
Collateral is the pool’s rate-normalized accounting unit, not the token as deposited — the manager’s token-unit line above is the other system, named. The node count against 227 live ticks is the fossil record of the ladder being rearranged: every rebalance, tick liquidation and redemption retires a node.
Two dials, no events. Funding is charged into the collateral index — every position in the pool holds less, pro-rata, each time it turns — and write-offs turn the same dials. Both started at exactly ×1.0. Re-checked on this read: shares × index equals the pool’s own raw totals, exact in integers on both sides.
USD per stETH (the normalized unit). The protocol itself splits the jobs: a position’s stated debt ratio is judged at the anchor, the rebalance and liquidation sweeps judge a whole tick at the min, and a redeemer’s collateral is priced at the max. Every tick ratio below therefore uses the min leg — the engines’ own axis.
Each column is one occupied tick at its current debt ratio; column heights follow a square-root scale of the tick’s fxUSD debt so the small ticks stay visible beside the largest (hover any column for the exact figures; the table below is the full record). Funding moves every column right at once — the ladder drifts toward the rungs while every position inside stands still. Adjacent ticks are 0.15% apart and may overlap in the drawing, never in the table.
Collateral reconciles to a named gap: 0.001 stETH sits outside the ladder entirely, held by positions with no debt — no debt, no tick, no rung. And 7 of the 227 ticks hold only dust — under 10⁻⁹ fxUSD, the exact line the protocol’s own sweeps skip a tick at; 2 of them sit past the liquidation rung and will simply never be cleared, because clearing them pays less than it costs. Counted in the totals, left out of the drawing.
Collateral is the pool’s rate-normalized accounting unit, not the token as deposited — the manager’s token-unit line above is the other system, named. The node count against 198 live ticks is the fossil record of the ladder being rearranged: every rebalance, tick liquidation and redemption retires a node.
Two dials, no events. Funding is charged into the collateral index — every position in the pool holds less, pro-rata, each time it turns — and write-offs turn the same dials. Both started at exactly ×1.0. Re-checked on this read: shares × index equals the pool’s own raw totals, exact in integers on both sides.
USD per WBTC (the normalized unit). The protocol itself splits the jobs: a position’s stated debt ratio is judged at the anchor, the rebalance and liquidation sweeps judge a whole tick at the min, and a redeemer’s collateral is priced at the max. Every tick ratio below therefore uses the min leg — the engines’ own axis.
Each column is one occupied tick at its current debt ratio; column heights follow a square-root scale of the tick’s fxUSD debt so the small ticks stay visible beside the largest (hover any column for the exact figures; the table below is the full record). Funding moves every column right at once — the ladder drifts toward the rungs while every position inside stands still. Adjacent ticks are 0.15% apart and may overlap in the drawing, never in the table.
Collateral reconciles to a named gap: 0 WBTC sits outside the ladder entirely, held by positions with no debt — no debt, no tick, no rung. And 2 of the 198 ticks hold only dust — under 10⁻⁹ fxUSD, the exact line the protocol’s own sweeps skip a tick at. Counted in the totals, left out of the drawing.