@simonthekid_

https://t.co/LoY8jy1DvL

Week 5 of sharing interesting web3 projects you probably never heard about: @PharosWatch . Pharos is a stablecoin analytics and risk dashboard that helps users understand what is happening behind the peg. What makes it interesting is that stablecoins are one of the most important parts of crypto, but most users still treat them as if they are all the same. In reality, $USDC, $USDT, $GHO, $crvUSD, $USDe, $PYUSD all have very different risk profiles. Pharos is making those differences easier to understand. By the time a stablecoin is already depegging, liquidity may be gone, exits may be expensive, and most users are reacting instead of preparing. Pharos is also super useful for teams building in Defi. If a lending market wants to list a new stablecoin as collateral, Pharos could help them evaluate peg history, liquidity depth, reserve quality, dependencies, and potential contagion risk. A stablecoin can look independent on the surface, but still depend heavily on another asset, issuer, custodian, bridge, lending market, or liquidity venue. When one major component breaks, the risk can spread to stablecoins that looked safe in isolation. Let's take a look at a pratical case. solana:USDSwr9ApdHk5bvJKMjzff41FfuX8bSxdKcR81vTwcA TVL stands at ~8B$. Pharos reports 13 protocol dependencies on solana:USDSwr9ApdHk5bvJKMjzff41FfuX8bSxdKcR81vTwcA and ~14.788B$ at risk. The biggest challenge for Pharos is making risk data simple enough for normal users without oversimplifying it too much. Stablecoin risk is complex, and scores can create a false sense of certainty if users do not understand what is being measured. A high safety score should not make people stop thinking, and a low score should not automatically mean an asset is unusable. The product would become even more useful with clearer user-specific alerts. For example, users could connect a wallet and receive notifications when a stablecoin they hold experiences liquidity deterioration, peg stress, reserve changes, blacklist activity, or dependency risk increases. Pharos could also become very valuable as an API layer as lending protocols, vault curators, treasuries, wallets, and DeFi frontends could integrate Pharos risk data directly into their own products. Imagine opening a stablecoin vault and seeing not only the APY, but also the peg history, liquidity score, reserve transparency, dependency risk, and recent warning signals. Stablecoin risk should not live only inside dashboards, but appear directly where users make decisions like in wallets, lending markets, DEX UI, vault pages, treasury dashboards, and risk reports.

https://t.co/ETn7MyVdCW

We keep seeing more and more projects with accountable dashboards being underwater. At this point having an accountable dashboard means nothing.

https://t.co/Q4MRWJbduc