Herd is a great tool to understand protocol risk and potential liquidity windfalls.
We analysed apxUSD through Herd and Pendle has an exposure of $140M, Morpho $25M
At a smaller scale Curve, Royco and Aeordrome also have exposure.
What are all the positions affected by apyx and the STRC depeg?
50 tokens and vaults are intertwined in apxUSD across pendle, morpho, termmax, infinifi, neutrl, royco, beefy, and more (cross chain too on base and bsc).
I break down the apxUSD balance sheet graph here: