Tangible protocol's USDR stablecoin lost its peg to the United States dollar, caused by a draining of liquid DAI from its treasury.
Real-estate-backed stablecoin USDR fell to $0.53 per coin on Oct. 11, but the team said it was merely a liquidity issue and that real estate holdings and digital assets will be used to support redemptions.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 tokens, which are part of the coin’s native ecosystem. The team claims that the remaining 85.26% are collateralized by real-world housing and an “insurance fund.”on March 11 when several banks in the U.S. went bankrupt, but it regained its peg on March 14. Terra’s UST
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