🚨 Attention: Potential Issue with USUAL and USD0++ 🚨
Based on circulating reports from Twitter/X, concerns have emerged in the DeFi community regarding the USUAL project and its token USD0++. It's essential for all investors to review the following developments closely:
What Happened?
1. Change in Price Floor Mechanism:
Originally, USD0++ was minted or purchased at a 1:1 ratio with USD ($1.00).
Recent updates indicate the project has manually adjusted the price floor to $0.87 per USD0++, translating to a 13% principal loss for investors.
2. Market Impact:
The USD0/USD0++ pool on Curve, with over $245 million in Total Value Locked (TVL), has been significantly impacted.
USD0++'s price has dropped to around $0.9568, signaling decreased market confidence.
3. Lack of Transparency:
Reports suggest this change occurred without prior notification, leading to accusations of favoritism or potential market manipulation.
Investors are demanding transparency and explanations regarding the sudden changes.
Why This Matters:
Financial Losses: The adjusted redemption value results in immediate losses for those holding USD0++.
Reputation Damage: Sudden, uncommunicated changes can erode trust in the DeFi protocol.
Manipulation Concerns: The lack of transparency raises suspicions of unfair advantages for select groups.
What You Should Do:
1. Stay Informed:
Follow discussions and updates related to this issue.
Seek direct statements from the USUAL team.
2. Monitor Official Channels:
Look for announcements and clarifications from the project across its official platforms.
⚠️ Disclaimer: This alert is based on secondary reports from Twitter/X. We urge all participants to verify information independently before making financial decisions.
Stay vigilant and invest responsibly! 💡