1 year ago
Polygon-based stablecoin Real USD (USDR), backed by existent property holdings, saw its worth driblet to astir $0.51 wrong a fewer hours aft its treasury was drained of DAI.
According to on-chain information published by Tangible DAO, the entity down USDR, the treasury presently holds zero DAI, with the lone liquid assets being a astir $6.2 cardinal security money for a circulating proviso of 45 cardinal USDR — worthy $45 cardinal erstwhile pegged.
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The treasury is besides backed by the token TNGBL. However, marketplace data from CoinGecko shows that its full 24-hour trading measurement is little than $300,000 with a bid extent of little than $5,000 connected UniSwap, making it intolerable to liquidate ample amounts.
Data from a Polygon artifact explorer shows that immoderate traders are selling USDR successful USDC trading pairs for pennies connected the dollar.
USDR's website shows that the task is offering a 16% yield.
Edited by Aoyon Ashraf.
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