✨✨Surprise Stablecoin Temporarily Loses Its $1 Peg as a Single Whale Makes a Massive Sell! ✨✨

Usual Protocol has faced a significant stress test in its stablecoin USD0 due to a large sell-off by a single whale on the secondary market.

This incident caused USD0 to briefly fall to $0.99. However, due to the ongoing sell-off, the price quickly returned to $1 and stabilized, with minor basis point deviations. The Usual Protocol team noted that the sell-off occurred today, raising concerns about the peg value of USD0. “This was our first major stress test, trading more than the total locked value (TVL) of GHO in just a few hours, but everything still went smoothly,” the team explained. Usual Protocol emphasized the historically strong fixed value of USD0, stating that it provides higher stability compared to stablecoins such as FDUSD, PYUSD and USDe, which are often traded below $1.

“The Usual infrastructure and model have proven their robustness once again. The peg has returned to normal and there is now ample instant liquidity for arbitrage,” the team said, reiterating the system’s strong structure and ability to provide instant liquidity.

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