Not yet, but it is drifting. eHYUSD is currently −0.37% from intrinsic value. Outside its drift band but short of its depeg threshold. Staked Hylo USD (eHYUSD) last traded at $1.4975 against an intrinsic value of $1.5030, as of .
eHYUSD is a yield-bearing stable asset. It accrues value over time, so it is expected to trade above $1.00. A premium is the mechanism working, and a sustained discount is the signal that matters. Pegana computes eHYUSD’s intrinsic value from its peg mechanism and compares it against the best executable market quote. The spread is smoothed, classified against eHYUSD’s own calibrated thresholds with hysteresis, and every state change emits a public receipt that anyone can re-derive byte-for-byte with the open-source methodology crate.