Retained incident replay

SAND liquidity is low relative to open interest

What happened

Two-sided depth within 1% is 3.37% of open interest.

Why it matters

This deterministic condition affected SAND on native. It is evidence to review, not proof that a loss or manipulation occurred.

Lifecycle

  • Status active; severity warning
  • Detected 2026-08-02T20:56:30.331Z
  • Current cycle 2026-09-20T01:06:24.674Z

Recommended action

Compare the current oracle, mark, liquidity, funding, exposure, coverage, and freshness before changing a position or operating decision.

Open SAND market evidence

Supporting evidence
{
  "depth100BpsUsd": 18891.837145,
  "openInterestNotionalUsd": 561177.0164,
  "adequacyPercent": 3.366466657204317,
  "thresholdPercent": 5
}