On-chain evidence. Market operations.
Liquidations and Risk
Curve's LLAMMA sells collateral across price bands, buying borrowers time in a drawdown while shifting arbitrage losses and execution risk onto them.
Settlement and bridges
The return restores 85% of the bitcoin drained from Liquid, but 598.5 BTC remains outside the federation wallet and the network is still paused.
We report the daily mechanics of on-chain markets: where liquidity moves, how trades execute and what fails under pressure. A working record for researchers and analysts, grounded in observable evidence.