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During a recent fluctuation in USDR’s value, a transaction involving 131k stablecoins yielded no return for the trader. Following the startling revelation from yesterday’s events surrounding the real-estate-backed U.S. dollar stablecoin, Real USD (USDR), a trader encountered a grave setback by swapping a staggering 131,350 USDR for 0 USD Coin (USDC).
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During yesterday's real-estate-backed U.S. dollar stablecoin Real USD (USDR) crisis, a trader appears to have swapped 131,350 USDR for 0 USD Coin (USDC), resulting in a complete loss on investment.According to the October 12 report by blockchain analytics firm Lookonchain, the swap occurred on the BNB Chain through decentralized exchange
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A high-profile failure in crypto’s burgeoning “real-world assets” niche may take an upward turn. Source
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Real estate-backed stablecoin USDR lost its peg to the U.S. dollar after a rush of redemptions caused a draining of liquid assets such as Dai (DAI) from its treasury, its project team has revealed. USDR — backed by a mixture of cryptocurrencies and real-estate holdings — is issued by Tangible protocol, a
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On-chain data suggests that USDR's treasury was drained of liquid assets, leading to a run on the stablecoin. Original Source
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