SHEINx

Terms

What is posted on chain right now, signed by the Kerb attester inside the contract guardrails.

Regime

Reference closed

The underlying market is closed, so no new reference price is arriving.

Credit Mark

4.726588

band 4.6793 to 4.8134

Carry LTV

35.00%

The ceiling a position can be drawn to and still be safe to hold through the next weakening.

Session Max LTV

40.00%

Only available while the session holds, and only with the cure covenant attached.

Debt ceiling

5,532.03

In USDG, the total debt this asset may support.

Executable depth at 1%

7,376.04

The notional that can be sold into the real pools for at most 1% impact, in USDG.

Usable for new risk

yes

Posted 2026-09-20 23:45 UTC, 7m 02s ago. transaction

Input bundle

0x5aac4e42…54cadf3b

The keccak256 of the canonical inputs, posted with the report. Recompute it with kerb verify.

Executable depth

Simulated by walking the real pool tick by tick, in the direction of a sale, from the pool state Kerb observed. Not an aggregator estimate.

Aggregate depth

7,376.04 at 1%

C(0.5%) 3,525.78 · C(3%) 23,564.88 · fragmentation factor 1 applied across eligible venues.

Cross-check

unavailable

okx-dex: no aggregator quotes in the bundle

Executable depth is on rung 2 for this asset: the tick-walk stands on its own until the aggregator answers again.

How the Credit Mark was made

The conservative minimum of the reference median and the pool price, after the dispersion guard and the regime haircut. Every component names its sources.

Reference

4.813441

Sources used: yahoo:chart:0625.HK, yahoo:chart:HKD=X

Pool

4.842743

Spot along 0xF1ef…4497

Dispersion

0.609%

Within the guard.

Regime haircut

1.804%

Credit Mark

4.726588

Band 4.679322 to 4.813441. USDG is treated as 1 USD; the USDG peg is observed separately and reported

Next transitions

Resolved from the Kerb calendar, kerb-calendar@0.1.0 (2025-12-01..2027-12-31). The onchain KerbClock is equivalence-tested against this same resolver.

Session now

CLOSED

XHKG · Asia/Hong_Kong · since 2026-09-18 08:10 UTC

Next transition

pre open

2026-09-21 01:00 UTC · in 1h 07m

Next weakening

lunch break

2026-09-21 04:00 UTC

The deadline a Session Max position must cure by.

Last Call window

closed

2026-09-21 03:30 UTC to 2026-09-21 04:00 UTC · 30m 00s long

Terms history

Every post Kerb has made for this asset, newest first, each one a transaction.

Scroll the table sideways for capacity and the transaction.