Cbizkit

After chasing this annoying pricing issue for a long time, I finally figured out what was going on. Let me clear this up once and for all: there was no depeg with axlUSDC on the Fantom network. What we're looking at is simply a flaw in the way @dexscreener and @GeckoTerminal @coingecko calculate prices. Here's what's actually happening behind the scenes, step by step. Now, if you open the axlUSDC/WFTM pool on @WigoSwap , both DexScreener and GeckoTerminal clearly show axlUSDC at $0.81. At first glance, it's enough to make you think, Seriously? Did another stablecoin just depeg? The pool I'm referring to is this one: 0x084f933b6401a72291246b5b5ed46218a68773e6 But once you actually look inside the pool, the story changes. You'll find roughly $27K worth of $axlUSDC matched against about $27K worth of $WFTM. The pool is almost perfectly balanced. If a stablecoin had really depegged, you wouldn't see that kind of balance. The liquidity would be completely out of sync, and arbitrage traders would have drained the pool long ago. Still, I wanted to be sure, so I checked @whattofarm_ , where $axlUSDC was trading right around $1 without any issues. CoinGecko's global price listing also looked completely normal. To remove any doubt, I ran a live swap through the Squid Router. The result? The amount of $USDC I received matched the amount of $axlUSDC I sent almost penny for penny. In other words, everything is working exactly as it should in the real market. So why does it show $0.81? The answer is that it's nothing more than illusion. The platforms take the pool ratio 1 axlUSDC ≈ 30.75 WFTM and multiply it by the "reference" dollar price they've assigned to WFTM. Following that logic, I reverse-engineered the reference price their system appears to be using, and it came out to roughly $0.026. And this is where everything finally clicks into place. The native token of the Fantom Opera network, FTM, is currently trading around $0.034. So where is that $0.026 coming from? It's not using $FTM 's price at all it's using Sonic S. To confirm it, I checked the @squidrouter interface myself. 57 $S was worth almost exactly $1.50, which puts the price at roughly $0.0263 per token. The numbers matched almost perfectly. The reason for this technical mess goes back quite a while. About 19 months ago, Fantom launched a 1:1 token migration to Sonic. The key detail is that the original Fantom Opera network was never shut down. It's still live, still producing blocks, and $FTM continues to trade there based on its own independent supply and demand. $S , on the other hand, is a completely separate blockchain with its own market. It looks like some price providers are still treating these two tokens as if they're the same asset. Most likely, this is a leftover issue from the smart contract or metadata mappings created during the migration. As a result, when their system calculates the price of WFTM, it mistakenly uses the much lower price of Sonic S instead. That error then cascades through every pool priced against WFTM, making assets like axlUSDC appear to have depegged even though nothing is actually wrong with the pools themselves. Of course, I didn't just leave it there. I submitted the pool address along with all of my findings to both DexScreener and GeckoTerminal through their official support channels. The DexScreener team said they would investigate the issue, although they didn't provide a timeline. Even so, their response was constructive and professional. I wanted to share all of this here so the community doesn't panic over a problem that isn't real, and so we can bring more attention to it. There's a good chance that other Fantom pools using the same WFTM price reference are also being falsely flagged as if something is wrong. To sum it up: axlUSDC is perfectly fine. The real issue is the incorrect pricing source being used for WFTM on the Fantom Opera network not the token itself.

#Fantom Opera’s shuts down in 9 days. #Ftm #S #Soniclabs $S $Soniclabs

#Fantom Opera’s shuts down in 10 days. #Ftm #S #Soniclabs $S $Soniclabs

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