> For the complete documentation index, see [llms.txt](https://risk.infinity.exchange/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://risk.infinity.exchange/risk-matrix/liquidity-and-depeg-risk/depeg-risk.md). # Depeg Risk Infinity's main unit of account is USD * All FX pairs (ETH/USD, WBTC/USD, USDC/USD, etc.) will be quoted against USD as the counter currency and, as such, all positions are subject to token/USD exchange risk * Positions are quoted in USD and settled in the base currency (ETH, WBTC, USDC, etc.) For stablecoin/stablecoin pairs (USDC/USD, USDT/USD, DAI/USD), the depeg risk is also a risk users are exposed to, where you are borrowing stablecoin A and lending stablecoin B, and stablecoin B depegs, thereby resulting a decrease in your PV(Assets) in USD terms. While Infinity has factored in depeg risk via macro hedges and buffers, we would not be insulated against a materially large depeg. --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter, and the optional `goal` query parameter: ``` GET https://risk.infinity.exchange/risk-matrix/liquidity-and-depeg-risk/depeg-risk.md?ask=&goal= ``` `ask` is the immediate question: it should be specific, self-contained, and written in natural language. `goal` is optional and describes the broader end goal you are ultimately trying to accomplish on behalf of the user. GitBook uses it to tailor the answer towards what is most useful for that goal. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.