A sell-off in a thin DEX pool shouldn’t automatically liquidate your RWA loop Here’s how @kamino handles $ONyc from @onrefinance: • Scope values the collateral at OnRe’s onchain NAV, using Chainlink and Pyth feeds • The DEX pool price acts as a check, not the collateral valuation • If it diverges from NAV by more than 1%, Scope stops updating and borrowing and liquidations pause until the prices align again For $ONyc loopers, that helps prevent a secondary-market liquidity shock from triggering liquidations when NAV hasn’t changed It doesn’t protect against a fall in NAV or debt growth. But the distinction between pool price and asset value matters