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    Asymmetry USDaf

    USDAF

    Evaluation Score

    Overall rating on a scale of 0-10

    RiskReturn
    04.410
    Risk Level:
    Very High
    Recommendation:Avoid
    Evaluated:August 28, 2026 (v14)

    Dimension Breakdown

    Development Activity4.5
    Community Health2.0
    Tokenomics5.0
    Market & Use Case2.0
    Team & Governance5.5
    Security & Audits7.0

    AI Analysis

    Comprehensive evaluation of the token

    USDAF (Asymmetry USDaf) is an overcollateralized CDP stablecoin built on Liquity v2 infrastructure deployed on Ethereum. While its underlying smart contracts are immutable by design and backed by security audits and a Cantina competition with no history of exploits or bad debt, the project shows severe structural and adoption challenges. The token suffers from minimal market adoption, negligible liquidity (~$24 to $12.7K daily volume), a tiny holder base (237 holders), and an on-chain market cap below $300k. Furthermore, USDAF is flagged across multiple aggregators as 'Asymmetry USDaf Legacy' and has undergone a migration/deprecation. In accordance with the protocol migration findings, this legacy asset should be avoided.

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    Development Activity

    Code updates and developer engagement

    RiskReturn
    04.510

    Community Support

    Social media presence and community engagement

    RiskReturn
    02.010

    Tokenomics

    Supply, distribution, and utility

    RiskReturn
    05.010

    Market & Use Case

    Value proposition and competitive landscape

    RiskReturn
    02.010

    Team & Governance

    Team background and project governance

    RiskReturn
    05.510

    Security & Audits

    Security history and audit status

    RiskReturn
    07.010
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    About Asymmetry USDaf (USDAF)

    Asymmetry USDaf (USDAF) is a legacy stablecoin that has undergone a protocol migration and is categorized across data aggregators as a deprecated asset. Issued by Asymmetry Finance on the Ethereum blockchain, USDaf is an overcollateralized collateralized debt position (CDP) stablecoin developed as a fork of Liquity v2 infrastructure. The system utilizes an elastic supply mechanism driven by CDP minting and burning against selected collateral types, including wBTC, tBTC, scrvUSD, sUSDS, ysyBOLD, and sfrxUSD, with fixed interest rates between 0.5% and 25% and a maximum loan-to-value ratio of 83.33%. Governance of the protocol is managed via the ASF token under a vote-escrow (veASF) framework.

    From a technical perspective, the smart contracts were deployed to be immutable by design, undergoing third-party review via a Cantina security competition and independent audits. However, the system's immutability requires accepting documented structural risks, such as debt burdens resulting from oracle failures. On June 20, 2025, a tBTC oracle issue triggered an automated safety shutdown mechanism within the protocol, demonstrating the operational risks inherent to its multi-collateral design.

    USDAF currently exhibits extremely limited market adoption, negligible liquidity, and minimal community engagement. The asset has experienced slight peg deviations, maintaining a circulating market capitalization below $500,000 and a holder base of fewer than 300 addresses. Furthermore, the core development team identities remain unverified in public documentation, and the USDAF token has been largely superseded within the Asymmetry Finance ecosystem.

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