- Per-token supply vs 1.2× external nostro cash. Large c* supply can break while reserve economics remain sufficient.
+ Per-token supply vs 1.2× external nostro cash. Large c* supply can break while reserve economics remain sufficient. GL 2100 M1 book money is never cash-in-bank.
diff --git a/frontend/src/components/explorer/HoLiquidityPage.tsx b/frontend/src/components/explorer/HoLiquidityPage.tsx
new file mode 100644
index 0000000..174fbd5
--- /dev/null
+++ b/frontend/src/components/explorer/HoLiquidityPage.tsx
@@ -0,0 +1,174 @@
+import Link from 'next/link'
+import EntityBadge from '@/components/common/EntityBadge'
+import { explorerFeaturePages } from '@/data/explorerOperations'
+import { formatUsdValue } from '@/utils/displayCurrency'
+import {
+ formatHoReserveCoverageLabel,
+ formatSupplyNostroMatchLabel,
+} from '@/utils/tokenMarket'
+import OperationsPageShell from './OperationsPageShell'
+
+export type HoLiquiditySnapshot = {
+ generatedAt: string
+ fineractConfigured: boolean
+ cashInBank?: {
+ cashInBankUsd?: number
+ externalNostroGlCode?: string
+ audit?: { status?: string }
+ supplyNostroMatch?: {
+ status?: string
+ multiplier?: number
+ totalSupplyUsd?: number
+ externalNostroCashUsd?: number
+ expectedSupplyUsd?: number
+ }
+ }
+ reserveCoverage?: {
+ status?: string
+ coverageRatio?: number
+ reserveAssetsUsd?: number
+ requiredReserveUsd?: number
+ issuedCStarUsd?: number
+ reserveAssetGlCodes?: string[]
+ multiplier?: number
+ }
+ aggregateSupplyNostroMatch?: {
+ status?: string
+ multiplier?: number
+ }
+ alerts?: Array<{ code: string; severity: string; message: string }>
+ tripleState?: { aligned?: boolean; breaksCount?: number; generatedAt?: string }
+ perTokenSamples?: {
+ cUSDC?: {
+ totalSupplyUsd?: number
+ supplyNostroMatch?: { status?: string }
+ }
+ }
+}
+
+type HoLiquidityPageProps = {
+ snapshot: HoLiquiditySnapshot | null
+ loadError?: string | null
+}
+
+function formatRatio(value: number | undefined): string {
+ if (value == null || !Number.isFinite(value)) return '—'
+ return `${value.toFixed(2)}×`
+}
+
+export default function HoLiquidityPage({ snapshot, loadError }: HoLiquidityPageProps) {
+ const page = explorerFeaturePages.hoLiquidity
+ const coverage = snapshot?.reserveCoverage
+ const nostro = snapshot?.cashInBank
+ const aggregateMatch = snapshot?.aggregateSupplyNostroMatch ?? nostro?.supplyNostroMatch
+ const cusdcSample = snapshot?.perTokenSamples?.cUSDC
+
+ return (
+
+ {loadError ? (
+
+ {loadError}
+
+ ) : null}
+ {snapshot ? (
+
+
+ Fineract audit {new Date(snapshot.generatedAt).toLocaleString()}
+
+
+
+
+ Cash-in-bank
+
+ {formatUsdValue(nostro?.cashInBankUsd ?? 0)}
+
+
+ HO GL {nostro?.externalNostroGlCode ?? '13010'} nostro (Dr) — external correspondent cash, not GL 2100 M1.
+
+ {aggregateMatch ? (
+
+
+ ) : null}
+
+
+
+ Reserve coverage
+
+ {formatRatio(coverage?.coverageRatio)}
+
+
+ {coverage ? formatHoReserveCoverageLabel(coverage as never) : 'Unavailable'}
+
+ {coverage ? (
+
+ Reserve assets {formatUsdValue(coverage.reserveAssetsUsd ?? 0)} · required{' '}
+ {formatUsdValue(coverage.requiredReserveUsd ?? 0)} · issued c*{' '}
+ {formatUsdValue(coverage.issuedCStarUsd ?? 0)}
+
+ ) : null}
+
+
+
+ PMM cash liquidity
+
+ On-chain spendable pool depth (~$13M cUSDC-side) is shown on wallet and token pages as Cash liq. — not full DEX TVL.
+
+
+
+
+ {cusdcSample ? (
+
+ cUSDC per-token nostro settlement
+
+ Total supply {formatUsdValue(cusdcSample.totalSupplyUsd ?? 0)} · match{' '}
+ {cusdcSample.supplyNostroMatch?.status ?? 'pending'}
+
+
+ Per-token break is expected at current supply until nostro is scaled; aggregate reserve coverage can still be sufficient.
+
+
+ ) : null}
+
+ {snapshot.tripleState ? (
+
+ Triple-state reconcile
+
+ {snapshot.tripleState.aligned ? 'Aligned' : `${snapshot.tripleState.breaksCount ?? 0} break(s)`}
+ {snapshot.tripleState.generatedAt ? ` · ${new Date(snapshot.tripleState.generatedAt).toLocaleString()}` : ''}
+
+
+ ) : null}
+
+ {(snapshot.alerts ?? []).length > 0 ? (
+
+ Alerts
+
+ {snapshot.alerts?.map((alert) => (
+
+ {alert.severity} · {alert.code}: {alert.message}
+
+ ))}
+
+
+ ) : null}
+
+ )
+}
diff --git a/frontend/src/components/wallet/TokenLiquidityStack.tsx b/frontend/src/components/wallet/TokenLiquidityStack.tsx
index 278a839..a6b92a1 100644
--- a/frontend/src/components/wallet/TokenLiquidityStack.tsx
+++ b/frontend/src/components/wallet/TokenLiquidityStack.tsx
@@ -6,6 +6,7 @@ import {
formatCashLiquidityLabel,
formatHoLiquidityAuditFreshness,
formatHoReserveCoverageLabel,
+ formatSupplyNostroMatchLabel,
resolveDisplayedCashInBankUsd,
resolveDisplayedCashLiquidityUsd,
} from '@/utils/tokenMarket'
@@ -41,6 +42,11 @@ export default function TokenLiquidityStack({
Reserve coverage {formatHoReserveCoverageLabel(coverage)}
+ Nostro match {formatSupplyNostroMatchLabel(market.supplyNostroMatch)}
+
+ ) : null}