USDC/MIDAS Pool on Base Collapses to Near Zero

A specific liquidity pool on the Base blockchain has undergone a dramatic change in status, moving from a state of active operation to a near-total collapse. The pool, identified by the address 0x51a3f17e13c655c4228736cd139483c6ce92d876, was designed to facilitate swaps between USDC and MIDAS tokens. However, recent on-chain data indicates that the pool has effectively ceased to function as a viable trading venue. The event was first detected on June 10, 2026, at 06:57:17 UTC, marking the moment the pool's health deteriorated to a critical level.

The Magnitude of the Decline

The most striking metric associated with this event is the drawdown percentage, which stands at 100%. In plain terms, this figure does not represent a simple market correction or a temporary dip in price. Instead, it signifies that the entire amount of liquidity that was previously available for trading has been removed from the pool. At its peak, the pool held a total value of $60,000 in combined assets. Following the event, the remaining liquidity is valued at only $10. This represents a loss of $59,990 in available capital. When a pool loses 100% of its liquidity, it means there is no longer enough capital in the contract to facilitate meaningful trades for users. The pool is effectively empty.

Current Health and Status

Following the collapse, the pool's health score has dropped to 20 out of 100. This low score reflects the current state of the contract, which is now considered dead or non-functional for standard trading purposes. The current status is listed as dead, confirming that the pool is no longer accepting deposits or facilitating swaps in a practical sense. While the on-chain risk flags currently show as ok, this metric often refers to the absence of active malicious exploits in real-time rather than the historical loss of value that has already occurred. The deployer wallet associated with this contract is 0x577266690fb9384cf1acb70c1d30ae8940f241a7. The transition from a $60,000 pool to a $10 remnant suggests a rapid drain of funds, likely due to a rug pull or a massive withdrawal event.

Implications for Traders

For any participant in the Base ecosystem, this event serves as a stark reminder of the volatility inherent in new liquidity pools. A drawdown of this magnitude means that any user attempting to interact with this specific pair will find the order book empty or the slippage so extreme that a trade is impossible. The loss of $60,000 in liquidity indicates that the capital provided by liquidity providers has been fully extracted. This is a critical distinction from a price crash; in a price crash, liquidity remains, but the asset value drops. Here, the liquidity itself has vanished. Readers should understand that a 100% drawdown implies the pool is no longer a place to buy or sell assets, rendering the contract address 0x51a3f17e13c655c4228736cd139483c6ce92d876 useless for its intended purpose.

• The pool started with $60,000 in total value.
• Current liquidity is仅剩 $10.
• The health score is now 20/100.
• The event occurred on June 10, 2026.