IAQF research - February 2026 - IAQF - Captain: Sang Uk Park 

Description: The IAQF research proposal asked us to design a strategy to justify whether liquidity was positive or negative after the de-peg moments of StableCoins, where certain macro events in 2024 April put the price of Stablecoins below $1 for few days and the price went back up. Then, does the liquidity level stay the same afterwards? 

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Based on the research, I propose that using MRR spread testing, the spread margin has become more volatile and higher MRR after the macro events witnessed through the microstructure trade analysis to propose a notion that the regime has changed after the event. 

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The full pdf file is available as to download while the sample of pages are attached below. Thank you.