Stablecoin

JUST

Real USD

Tangible

A new one has been added to the depeg (stablecoin losing its peg to $1) events, which have been increasing in number recently in the cryptocurrency world. 
Polygon-based stablecoin Real USD (USDR), backed by illiquid real estate assets, has lost its peg and fallen below $1, trading at $0.54 at the time of writing. 
<figure id="attachment_124321" aria-describedby="caption-attachment-124321" style="width: 100%" class="wp-caption alignnone">
 <img decoding="async" class="wp-image-124321 size-full" src="https://www.bitcoinsistemi.com/wp-content/uploads/2023/10/dexscreener.com_USDR_USDC_2023-10-11_20-43-29.png" alt="" width="1194" height="531">
 <figcaption id="caption-attachment-124321" class="wp-caption-text">
 Chart showing the USDR token losing its peg to $1.
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</figure> 
The USDR losing its peg means it is no longer in a one-to-one relationship with the US dollar. The coin was backed by another devalued token, another gutted token, and a treasury backed by a small insurance fund. 
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After the Treasury exhausted its holdings of DAI tokens in order to maintain the peg to $1, USDR fell to approximately $0.51. The remaining funds of the treasury consist of an insurance fund of $ 6.2 million. However, with a circulation of 45 million USDR coins, $45 million in total value would be required to maintain the peg to $1. 
The treasury also relied on support from the native Tangible token (TNGBL), but this token has fallen to $3.82, a 45% decline in the last 24 hours. According to on-chain data published by Tangible DAO, the entity behind USDR, the treasury currently holds zero DAI. 
*This is not investment advice. 
 Continue Reading: <a rel="nofollow" href="https://en.bitcoinsistemi.com/another-stablecoin-loses-its-peg-to-1-it-trades-at-0-54-now/">Another Stablecoin Loses Its Peg to $1: It Trades at $0.54 Now</a>

Another Stablecoin Loses Its Peg to $1: It Trades at $0.54 Now

Bitcoin Sistemi EN

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