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USDai Monitoring

USDai monitors on Arbitrum focus on backing safety and loan activity.

Contracts (Arbitrum One)

  • USDai Token (proxy): 0x0A1a1A107E45b7Ced86833863f482BC5f4ed82EF
  • PYUSD Token: 0x46850aD61C2B7d64d08c9C754F45254596696984
  • sUSDai: 0x0B2b2B2076d95dda7817e785989fE353fe955ef9
  • Loan Router: 0x0C2ED170F2bB1DF1a44292Ad621B577b3C9597D1

Backing Invariant

The invariant monitored in usdai/main.py is:

usdai.totalSupply() + usdai.bridgedSupply() <= PYUSD.balanceOf(USDai)

All values are normalized to 1e18 units before comparison.

Why bridgedSupply matters

bridgedSupply represents USDai minted for cross-chain/bridge accounting. So the required PYUSD backing is not only local totalSupply(), but totalSupply() + bridgedSupply().

Alert Condition

We alert only when:

(totalSupply + bridgedSupply - pyusdBalance) >= USDAI_INVARIANT_BREACH_THRESHOLD_RAW

Default threshold is 100e18 (100 USDai).

Loan Monitoring

We also track sUSDai loan principal from Loan Router and alert on meaningful total principal changes.

A legacy loan principal is intentionally included as a fixed adjustment for continuity.

Large Mint Monitoring (No Event Scanning)

usdai/large_mints.py intentionally does not scan events.

It runs cached totalSupply delta checks and alerts when the increase is above:

  • USDAI_LARGE_MINT_THRESHOLD_PERCENT (default: 0.05, i.e. 5% of previous totalSupply)

The GitHub workflow .github/workflows/hourly.yml runs this monitor hourly.

Price Monitoring Scope

usdai/main.py does not monitor PYUSD/USD price.

Price/peg monitoring should be handled by the shared stable monitor:

  • stables/main.py

Usage

Run USDai invariant + loan monitor:

uv run usdai/main.py

Run large mint monitor:

uv run usdai/large_mints.py