Usual Protocol Faces Criticism After USD0++ Depegs

Quick Summary:

Criticism of Usual Protocol DeFi stablecoin issuance protocol was due to a loss of parity in the staked stablecoin, USD0++.

This began depegging on January 9 at a coin level reaching a value of $0.89, while by later stages of recovery.It stood at $0.

Michael Egorov, Curve Finance’s founder, was expecting the discount on USD0++ because it is bond-like.

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Article Details

Author / Journalist: Sneha Murali

Category: Crypto

Markets: United Arab Emirates

Topics: Usual protocol Defi News Usdo++

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-11 @ 18:28:33 (21 hours ago)

News Timezone: GMT +0:00

News Source URL: thenewscrypto.com

Language: English

Article Length: 421 words

Reading Time: 3 minutes read

Sentences: 29 lines

Sentence Length: 15 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © TheNewsCrypto

News ID: 25071147

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