According to Foresight News, The Block reported that the update of the Usual Money protocol caused the price of its pledged stablecoin USD0++ to fall 8.5% from $1 to $0.915 on decentralized exchanges. The protocol introduced a dual-path exit mechanism, allowing users to redeem USD0++ at a floor price of 0.87 USD0, or choose to give up part of the income for a 1:1 redemption, but the change without prior notice has caused community criticism.
USD0++ was originally a zero-interest bond token that was locked for four years, with a typical market value of $0.855, but it was previously redeemable for USD0 at a 1:1 ratio. After the update, a large number of holders sold USD0++, causing it to be severely unbalanced in the Curve pool, with price fluctuations as high as 92%. Community members accused the team of not announcing in advance and locking up a large amount of funds, but others believed that this move would help long-term stability.