DEI Loses Peg After Terra’s Implosion, But Hong Kong Offers Way Out - BitcoinEthereumNews.com
TeknolohiyaNawala ang Peg ng DEI Pagkatapos ng Pagsabog ni Terra, Ngunit Nag-aalok ang Hong Kong ng Way Out05 / 17 / 2022Balita ng Ethereum ng Bitcoin The difficult patch for cryptocurrencies continues as Fantoms DEI becomes the latest stablecoin to lose its peg to the U.S. dollar. At the start of the week, Deus Finances stablecoin, DEI, ayon sa to CoinMarketCap data, dropped as low as 54 cents as it lost its peg to the dollar. This marks the continuation of the streak of algorithmic stablecoins losing their pegs, sending ripples of chaos through the entire ecosystem. Before the de-pegging, DEI had a market capitalization of around $64 million and showed great promise in its growth trajectory. DEI served as a collateral mechanism for third-party instruments on Deus Finance, a Fantom-based protocol for decentralized finance (DeFi). Algorithmic stablecoins in disarray DEI bears similarities with the embattled UST as they are both algorithmic stablecoins. For DEI, the collateral ratio was constantly monitored and regulated through arbitrage bots that ensured the stability of the peg. The disillusionment around algorithmic stablecoins most likely led to DEIs recent slump. On Sunday, the asset was trading at $0.97 but apprehensive traders began exchanging DEI tokens for USDC on desentralisadong palitan with low levels