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Tangible: All liquidity DAI in the USDR treasury is redeemed within a short period, causing panic selling that leads to USDR depegging.

2023.10.12 - 00:17

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TechFlow news: Tangible, a stablecoin protocol backed by real-world assets, tweeted that within a short period, all DAI liquidity in the USDR treasury was redeemed, accelerating market cap contraction. Combined with insufficient DAI available for redemptions, this triggered panic selling and depegging. The team is working on a solution which will be announced soon. Additionally, real estate and digital assets will continue to support USDR redemptions.

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