DeFi

USD0++ suffered a depeg last night. Why do vault curators on @morpho think it was a good idea to hard code a bond with a 4 year duration to $1? 🤷‍♂️

@usual likely may have to unlock the collateral and arb USD0++ for a profit to stabilize markets.

If your vault has USD0++ exposure, I'd sit out for now.

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Yeah, it’s a 4 year zero coupon bond, but when you peg its redeemable value 1:1 it is very easy for retail to assume it is.

Almost everyone is calling this a depeg, and rightly so.

USD0++ is not a stablecoin, so calling this a depeg is a bit misleading.