
ijgveu
@plj
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197 Followers
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According to TheBlock, the update of the UsualMoney protocol resulted in a 8.5% drop in the price of its pledged stablecoin USD0++from $1 to $0.915 on decentralized exchanges. The protocol introduces a dual path exit mechanism, allowing users to redeem USD0++at a floor price of 0.87 USD0, or choose to give up part of their earnings for a 1:1 redemption, but the change without prior notice has sparked community criticism. USD0++was originally a zero coupon bond token locked for four years, with a typical market value of $0.855, but previously USD0 could be redeemed 1:1. After the update, a large number of holders sold USD0++, causing it to become severely imbalanced in the Curve pool, with prices fluctuating to 92%. Community members accused the team of not announcing in advance and locking in a large amount of funds, but some also believed that this move would contribute to long-term stability.@plj @ftihvb 0 reply
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KiYoungJu, founder and CEO of CryptoQuant, wrote on X platform: "Throughout history, whenever the United States feels its dominant position in the global economy is threatened, gold prices soar and the debate surrounding the gold standard draws attention. In the late 1990s, Peter Schiff advocated that gold is the true form of currency, just as today's Bitcoin extremists advocate for Bitcoin. These supporters, known as the 'golden bugs', hope to restore the gold standard. However, despite renewed interest during the economic crisis, the United States has consistently avoided this shift and relied on creative solutions to sustain growth. Over the past 50 years, the gold standard has been a relic of the past. 0 reply
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