Liquidity structure

Generated statistics from the liquidity-web crawl (both PulseX factories, end-to-end) [chain]; written structure below. Anchoring is WPLS-denominated throughout — the cross-token comparable this site uses (the pools carry no reliable USD leg: pDAI is de-pegged, so no pseudo-USD figures are shown).

The shape of the webs [chain]

• Both PulseX factories were crawled end-to-end: V1 0x1715a3E4A142d8b698131108995174F37aEBA10D (65,239 pairs) + V2 0x29eA7545DEf87022BAdc76323F373EA1e707C523 (186,797 pairs) — 252,036 PairCreated events; the event counts equal allPairsLength() exactly for both, so the crawl is complete by construction.
• 34,634 pairs touch the interest registry (census TTs + reserves + named contracts). 1,581 census-era tokens ever had a pool; the rest are spine-only paper. 2,166 TT↔TT pairs exist — the ecosystem trades against itself.
• Reserves dominate the WPLS-anchored table: pDAI 39.5B, TeddyBear 3.19B, Atropa 2.82B, FED 1.30B (709 live pairs), TBILL 742.5M, MV 218.2M.
• 108 census TTs carry a PulseX LP token as parent — symbolic parenthood: every such LP pre-existed the TT and is a dust pool (≈0.005 tokens/side), not collateral.

Burnt liquidity [chain]

The burnt-LP census (LP balanceOf(DEAD) + balanceOf(ZERO) vs totalSupply per pair, all 34,634 pairs of interest):

Fact	Value
pairs with ≥50% LP at dead sinks	1,753 of 34,634 (5.1%)
pairs with any dead-sink LP	1,919
WPLS locked behind burnt LP	564.4M WPLS (0.8% of WPLS-leg reserves)
concentration	old-era Maria #2 / forked-asset / TeddyBear pools dominate; census TTs are a minority

The flagship case: the pDAI×Atropa pool burned 93.76% of its LP during the April 2025 crisis window (verified inside the census). Entity pages flag burnt-locked-50 where ≥50% of one of the token’s pools is at dead sinks.

Numeraires — forked vs bridge vs native [chain]

Three distinct “dollar-like” asset classes circulate, and they are not interchangeable:

Class	Examples	Nature
fork-carried p-assets	pDAI 0x6B175474E89094C44Da98b954EedEAC495271d0f, pUSDC, pUSDT, pWETH, pWBTC 0x2260fac5e5542a773aa44fbcfedf7c193bc2c599	Ethereum genesis state copies at identical addresses; de-pegged but liquid; carried Ethereum-era admin state at fork
bridge-wrapped e-assets	eDAI 0xefD766cCb38EaF1dfd701853BFCe31359239F305, eUSDC 0x15D38573d2feeb82e7ad5187aB8c1D52810B1f07, eUSDT 0x0Cb6F5a34ad42ec934882A05265A7d5F59b51A2f, eWETH 0x02DcdD04e3F455D838cd1249292C58f3B79e3C3C	official-bridge wrapped tokens (328-byte “… from Ethereum” contracts); distinct CAs, actually pegged by the bridge
native reserves	FED, TBILL, MV, TeddyBear, Atropa	Pulse-native Maria deployments, and the Atropa ecosystem’s own units of account — the criterion for this row: born on PulseChain by an Atropa deployer key (neither fork-carried at genesis nor bridge-wrapped) and mechanically load-bearing inside the system’s own economics — FED/TBILL as the reserve-collateral parents (V1’s parity lock, V3/V4’s claim guard), MV as the universal New() creation payment, TeddyBear/Atropa as the old-era flagship native books the liquidity webs anchor against

The e/p prefix convention is informal — bare tickers collide (pDAI is not eDAI’s parent; they are different contracts on different origins). Any valuation or pairing that silently mixes the classes is wrong by construction; the entity pages classify every address into exactly one class.