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Usual, a DeFi stablecoin issuer, faced a sell-off after introducing dual exit mechanisms for its USD0++ protocol, causing the token to drop to $0.89. The conditional exit allows 1:1 redemption at the $1 peg with penalties, while the unconditional exit offers immediate cash-out at a floor price of $0.87, rising to $1 over four years. This update has led to significant market volatility and liquidity issues, with hundreds of millions in USD0++ leaving DeFi.
The DeFi sector has surged, achieving a 210% increase year-to-date and a 58% rise this month, outperforming Bitcoin and other sectors. Curve DAO Token leads monthly gains at nearly 300%, while Aerodrome Finance tops year-to-date performance at 4,461%. Despite this growth, the Total Value Locked (TVL) remains below its all-time high, with Ethereum dominating TVL rankings.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
stablecoin issuer faces sell-off after introducing dual exit mechanisms
12:43 10.01.2025
decentralized finance sector sees significant growth and user engagement in 2024
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22:12 14.12.2024
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