USD0++ depegged after new rules caused panic and losses.
Usual Protocol introduced fixes like revenue sharing and 1:1 unstaking.
Protocol’s token, USUAL, dropped in value by 18.7%.
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 $0.92 and created fear for both users and cryptospheres.
USD0++ is not an ordinary stablecoin but rather a liquid staking derivative of USD0, somewhat working like stETH when with ETH in Lido Finance. Although USD0 is fully pegged to the US dollar and, therefore, backed by US Treasury bills. USD0++ works more like a bond since users stake USD0 to receive rewards in terms of T-bill yields and the protocol’s native token. USUAL, but the money is locked for four years.
Changes Introduced by Usual Protocol
The issue began when Usual Protocol altered th
We współpracy z: https://thenewscrypto.com/usual-protocol-faces-criticism-after-usd0-depegs/
