Methodology — Stable or Gone

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Status labels

See how a stablecoin’s current state is kept separate from past incidents.

Event selection

Learn which depegs and other changes are significant enough to record.

Source types

Compare issuer statements, reports, regulatory documents, protocol data, and on-chain records.

Core approach

Separate entities and events	A stablecoin record describes the asset. Event records describe dated changes such as launches, depegs, migrations, regulatory actions, reserve interventions, issuer-control actions, or wind-downs.
Separate organizations and roles	Companies, protocols, DAOs, reserve managers, custodians, and redemption agents are recorded as organizations. Their roles are attached through relationship records.
Prefer primary sources	Issuer statements, official notices, reports, regulatory documents, repositories, verified contract references, and direct on-chain records are preferred where available.
Keep evidence scoped	A source is linked to the stablecoin, organization, event, and claim it supports rather than treated as proof of the whole record.

Registry v2 fields

Lifecycle status	The broad current state of the stablecoin, such as active, restricted, winding down, terminated, collapsed, migrated, rebranded, or unknown.
Issuance status	Whether new issuance appears open, restricted, paused, terminated, protocol-based, or unknown.
Peg reference	The target asset or unit the stablecoin attempts to track, including fiat, crypto asset, commodity, index, floating, other, or unknown references.
Backing types	The public reserve or collateral categories associated with the stablecoin, such as cash, bank deposits, government securities, crypto collateral, tokenized funds, mixed backing, or unknown backing.
Reserve profile	A current high-level summary of reserve backing, disclosure status, confidence, and the latest supporting report if available.
Redemption profile	A current high-level summary of direct redemption access, eligible parties, settlement asset, minimum amount, fees, timing, jurisdiction limits, and confidence where public information exists.
Event detail kind	The normalized event subtype used for display and review, including depeg, regulatory, reserve change, redemption change, migration, issuer control, or other.
Evidence relation	The projected relation between a source and one or more stablecoins, organizations, events, and claim scopes.

Lifecycle and status labels

Active	Operating or available according to the most recent sources reviewed.
Restricted	Still operating, but with important restrictions on access, minting, redemption, geography, or market availability.
Suspended	Temporarily unavailable or paused in a way that affects issuance, redemption, transfer, or market support.
Winding down	Issuance, support, or operation has entered a formal wind-down but some redemption or support path may remain.
Terminated	The stablecoin or issuer-supported product has ended.
Collapsed	The stablecoin no longer functions as intended after a severe event or collapse.
Migrated / rebranded	The product moved to a new name, contract, structure, or successor asset.
Unknown	Available information is not sufficient for a reliable classification.

Primary display relationships

Purpose	Select one organization relationship for compact registry summaries and navigation while preserving every current and historical relationship.
Selection order	Relationship status is considered first, followed by functional role and reviewed temporal boundaries. JSON file order is never a selection rule.
Current before historical	An active relationship is preferred over ended, planned, or unresolved relationships when an active relationship exists.
Semantic ties	If two relationships remain tied after the approved rules, an explicit reviewed override is required. Relationship IDs may stabilize ordering but cannot silently resolve a semantic tie.
Meaning boundary	Primary display does not mean sole legal issuer, sole operator, reserve holder, custodian, redemption agent, or legally responsible party.
Additional relationships	All other organizations, roles, dates, and relationship states remain visible on stablecoin and organization records.
Missing dates	An ended relationship without a supported end date remains ended with the date shown as not recorded. SOG does not infer the missing date.

Evidence records, source identities, and relations

Canonical evidence record	A reviewed repository record created for a source in a particular research or claim context. SOG preserves 455 of these records for audit history.
Public source identity	One public source page after exact-URL duplicate records are grouped. SOG currently exposes 410 source identities.
Evidence relation	A connection from an evidence record to one or more stablecoins, organizations, events, and claim scopes. All 455 relations remain preserved.
Alias evidence ID	An original evidence ID that resolves to an approved canonical source identity. Alias records are not rendered as duplicate public rows.
Claim preservation	When several evidence records share one exact URL, the public source identity displays the union of supported claim scopes and subjects.
Count boundary	Evidence-record count and public source-identity count answer different questions. The difference does not represent deleted evidence.

Value-state semantics

Public state	Meaning
`known` Known	A reviewed value is present and may be shown directly.
`unknown_after_review` Unknown after review	The field was reviewed, but a supported value could not be established.
`not_recorded` Not yet recorded	No reviewed value has been recorded for this field.
`not_applicable` Not Applicable	The field does not apply to this record or context.
`not_public` Not publicly disclosed	The relevant information is not publicly disclosed or publicly available.
`unverified` Not yet verified	A candidate value exists, but SOG has not verified it.
`disputed` Disputed	Reliable sources or reviewed claims conflict materially.
`approximate` Approximate	The displayed value is explicitly approximate rather than exact.

A blank field, an investigated unknown, a non-applicable field, and undisclosed information are not treated as the same state. Known-unknown records remain explicit research gaps rather than being reduced to missing data.

Depegs and other events

Small price movement	Short or minor deviations are normally not recorded as separate events.
Notable depeg	A depeg may be included when it is material, sustained, historically important, or well documented.
Major event	The entry should identify what happened, when it happened, whether the peg recovered, and which sources support the account.
Status impact	A depeg does not automatically mean failure. Recovery and long-term outcome are considered separately.
Event subjects	Events can reference multiple stablecoins or organizations when the same source-backed event affects more than one record.

Issuer controls

Issuer freeze	An issuer, or an issuer-controlled contract authority, restricts transfer or use of stablecoins associated with a specific address or balance.
Address blacklisting	An address is registered in an on-chain blacklist that can restrict sending, receiving, redemption, or other token actions.
Blacklist versus seizure	Adding an address to a blacklist is not recorded as asset seizure unless a separate source proves a legal or custodial transfer of control.
Freeze versus burn	A freeze or blacklist action does not destroy tokens. Burn, reissuance, and return of funds are separate events.
Unfreeze	Removal from a blacklist or restoration of transfer capability is recorded as an independent reversal event.
Authority involvement	A regulator, court, law-enforcement agency, or other requesting authority is named only when supported by a primary source.
Effect boundaries	An address-level control action is not automatically treated as reserve impairment, redemption suspension, depeg, issuer insolvency, or network failure.

Incomplete or conflicting information

Open questions	Missing dates, unclear reserve histories, uncertain issuer roles, unresolved on-chain identifiers, and conflicting claims are listed explicitly.
Confidence	Confidence describes how complete and well supported the record is. It is not a judgment on the asset itself.
Corrections	Corrections and additional sources can be submitted through the contact page or GitHub Issues.