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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