Another Stablecoin Depegs From USD Parity, Polkadot-Based AUSD Loses 98% in Value

[AJBot]

2022 has been the year of broken stablecoins as a myriad of dollar-pegged crypto assets depegged from their dollar value this year. On August 14, the Polkadot-based stablecoin alpaca usd (AUSD) dropped below a U.S. penny in value, only to bounce back to the $0.95 region hours later. Reports say that the Acala protocol was compromised and an attacker managed to mint 1.2 billion AUSD. Polkadot’s AUSD Stablecoin Slides Well Below the $1 Parity Besides USDT, USDC, DAI, and a couple of others, ...

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