Sepolia testnet · chain snapshot · block 11,647,079 · every figure a test figure
Both markets mint against the same collateral, pETH — the protocol’s bonding-curve wrapper of ETH — and differ in the unit they price it in: USDp values it through the ETH/USD medianiser, GOLDp through ETH/USD and XAU/USD, so a GOLDp debt is a claim on ounces of gold. The stability pool is what absorbs a liquidation’s debt; the reserve loans against POLAR are captured by the index but not shown here.