DEUS

Bucksaway03

"A prior attack on DEUS has resulted in the loss of tokens worth $3 million and $13.4 million in two different incidents." When 2 hacks wasn't enough

coinfeeds-bot

tldr; DEI, a stablecoin used as a collateral mechanism for third-party instruments built on the Fantom-based decentralized finance (DeFi) protocol DEUS Finance (DEUS), has failed to maintain its dollar peg, falling below $0.60 cents on Monday. DeUS Finance’s governance token, DEUS, went up from $163.40 to *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

coinfeeds-bot

tldr; DEI, a stablecoin used as a collateral mechanism for third-party instruments built on the Fantom-based decentralized finance (DeFi) protocol DEUS Finance (DEUS), has failed to maintain its dollar peg, falling below $0.60 cents on Monday. DeUS Finance’s governance token, DEUS, went up from $163.40 to *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

beklog

Stablecoin DEI has lost its peg of $1 for the second time within a month. The stablecoin is trading at $0.419118 with a 24-hour trading volume of $1,468,752, data from CoinMarketCap showed. DEI is a complex algorithmic fractional-reserve cross-chain stablecoin with a native bridge connecting all chains within the DEUS ecosystem. The stablecoin DEI is not listed on any centralised exchanges. The cryptocurrency can only be traded on decentralised exchanges like Uniswap (V2), QuickSwap, OpenOcean, Solidly, and Beethoven X. Moreover, the trading volume of the cryptocurrency is also extremely low, as compared to the trading volume of other stablecoins like USDT Tether, USDC, DAI, or BinanceUSD. Also, unlike the Luna Foundation Guard, DEUS Finance, the organization that mints the stablecoin DEI, does not have enormous holdings of other cryptocurrency tokens.

jun_039

DEIs are being redeemed. see what DEUS DAO is doing.

chuck_portis

[https://i.imgur.com/av2qkTX.jpeg](https://i.imgur.com/av2qkTX.jpeg) DEUS requested the parameters. They offered to buy Scream at a price they knew the devs would jump on. So much so that Scream burned their bridges with Beefy and Yearn, who insisted Scream do not implement DEI, fully anticipating this vulnerability. Scream devs blinded by greed and a big payout. Put their user funds at risk and got burned big time. The insolvency of DEUS has now spilled over to Scream.

coinfeeds-bot

tldr; DEI, a stablecoin used as a collateral mechanism for third-party instruments built on the Fantom-based decentralized finance (DeFi) protocol DEUS Finance (DEUS), has failed to maintain its dollar peg, falling below $0.60 cents on Monday. DeUS Finance’s governance token, DEUS, went up from $163.40 to *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

drhuehue

Dei is another algorithmic stablecoin with only 37c of backing for every 1 DEI. When DEI lost peg and began to print DEUS (its luna counterpart that gets printed when the algostable goes off peg), the founder of DEUS decided to simply turn off the mechanism. He (lafa) then made a discord announcement where he said a whale was going to buy dei to bring it back to peg. This did not end up happening. They are now going to try a thing where they sell bonds "Deposit USDC and get DEI + interest rate!" but its unclear how they are going to get demand for people to deposit 1 dollar of USDC to get back a coin worth 60c of USDC.

BestDogeGrafy32

FUD of the highest order, I would think! No market cap or volume data available. Anybody got any DEUS/DEI? Anybody even fucking heard of it? On the plus side, the longer they keep producing this BS, the longer we have to fill our boots at these, soon to be worthless, fiat prices. T minus ?

Nookieyay

Where can I short $DEUS?

chuck_portis

FUSD is a different issue. FUSD was just an attempt by Fantom Foundation to get traction for their stablecoin. They listed it on Scream to help build out the ecosystem. At the end of the day, there is easily enough FTM to collateralize FUSD. There is 60M FUSD in circulation. Fantom Foundation is WAY more capitalized than DEUS Finance. Both were a mistake. The Fantom Foundation can fix the FUSD situation. DEUS is legitimately insolvent.

chuck_portis

This event is not possible without direct cooperation between both sides. DEUS has acknowledged their wallets deposited 99.9% of the DEI on Scream. [https://debank.com/profile/0x83b285e802d76055169b1c5e3bf21702b85b89cb](https://debank.com/profile/0x83b285e802d76055169b1c5e3bf21702b85b89cb) [https://debank.com/profile/0xe5227f141575dce74721f4a9be2d7d636f923044](https://debank.com/profile/0xe5227f141575dce74721f4a9be2d7d636f923044) [https://debank.com/profile/0x05bcd8f4d43340cdf06683359e2f01d3d64d6274](https://debank.com/profile/0x05bcd8f4d43340cdf06683359e2f01d3d64d6274) All 3 of those wallets belong to DEUS. All of them deposited DEI and borrowed stables immediately after DEI was enabled on Scream. You think DEUS just woke up and saw DEI listed on Scream, and dumped about 1/4 of the entire existing DEI onto the platform? The admins of these projects are all in cahoots. Some of them even overlap. Scream allowed user funds to be used as liquidity for DEUS. It was not an accident.

chuck_portis

They knew exactly what they were doing. Their argument is "But there's no Oracle for it!" Okay, so don't list it then? Keep in mind, they listed DEI on May 12. Several days into the UST collapse. The excuse that it was just some lapse in judgement is not reasonable. They also had a similar issue with FUSD in the past. They knew the risk they were taking. The only logical explanation to why they took that risk, is because they were deliberately trying to help/save DEUS. A completely unrelated platform. That is inexcusable. Shame on everyone involved.

chuck_portis

The wallets belong to DEUS. They have confirmed it. [https://i.imgur.com/caO9S3Z.png](https://i.imgur.com/caO9S3Z.png) From DEUS Telegram. Lafa runs the project. Acknowledges that all of the DEI on Scream belong to DEUS.

Loiynes

Seems like Scream's fault for lazily just slapping a $1 price there. Hard to pin down who those wallet addresses are who exploited Scream. Might be tied to Deus or might be users heavily invested in DEI/DEUS and want to leverage on their underpeg DEI positions when it was slightly trending below $1. If I were attempting to exit, I'd probably do this only when DEI is below 85¢ and exploit the fk out of Scream. But these transactions happened well before the dump. Might be an ugly leveraged play by users. Or it could be the Deus guys themselves trying to make DEI seem stable at $1.

chuck_portis

I mean, both the platforms had to work together to launch it on Scream. There is no logic in Scream listing DEI @ 0.85 collateral ratio, $1.00 fixed price. It is massive risk even on a good day. Keep in mind this was literally in the middle of the UST fiasco. Further, DEUS shows up minutes after the DEI is live on the platform and drops $20M worth of DEI on Scream and borrows against it. So they obviously had their strategy ready the moment it was live. Meaning it was in the works.

chuck_portis

So let's be clear. This was a back room deal between Scream and DEUS. Clearly in cahoots with each other. Scream explicitly allowed them to use their liquidity to maintain the DEI peg. Make no mistake, this integration was deliberate and both sides understood what was being done. Scream developers/operators knowingly allowed DEUS to utilize Scream funds to defend DEI. In my mind, their reputation is destroyed. Even if DEUS repays the $15M they owe Scream (so far NADA). If DEUS really has $15M lying around to repay Scream, why did they need Scream in the first place?

chuck_portis

Yeah. It's just brutal for Scream investors who had no relationship to DEUS project. Their funds are now locked in an unsecured loan from DEUS Finance.

The_Nutcrack

DEUS nuts

cutsickass

They did two Ask Me Anythings back to back recently, they called the event AMA DEUS, AMA DEUS. I'll see myself out...

_HandsomeJack_

From the [DEUS](https://rekt.news/deus-dao-rekt/) [DAO](https://rekt.news/deus-dao-rekt-2/]?

kytheon

I see a failed DEUS finance up to September. Reboot?

sad_dad_is_a_mad_lad

It's actually a somewhat promising project... didn't think it was large enough for Bloomberg coverage though. They have a big team and a lot going on. Was not invested thankfully (and still not), but I've been watching it. DEI is very small relative to UST, so I think it's possible it recovers, in which case, DEUS might do very well.

ersleid

Time to drop the DEUS

Bucksaway03

Wtf is DEUS

coinfeeds-bot

tldr; DEI, a hybrid algorithmic stablecoin from the DeFi protocol DEUS Finance, lost its dollar peg on Sunday. The DEUS finance team halted the redemption process to help stabilize the coin. It also announced to make the coin fully collateralized to reduce the risks of collapsing. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

CryptoMutantSelfie

Wow DEUS went x30 when Luna pumped in late February

snowfox2012

What are your thoughts on DEI and DEUS? They seem to be going strong

Accomplished_Mess116

You get synthetic assets are basically a combination of Traditional derivative assets and crypto assets. So far, I know DEUS launched a synthetic asset project on Polygon, if I'm not mistaken. And DVDX allows you to hold a basket of these synthetic assets, assuming you have options on which two assets to merge and then hold then as hybrid tokens.

bhootneeka69

I saw its potential at 7 and I invested in $DEUS instead while $DEUS is a solid project in my opinion.....I missed out big time.

StarfallV

Don't fall into this retard scam, DEUS is not at BSC yet, real DEUS tg is [t.me/deusfinance](https://t.me/deusfinance) not deusfinancetg.

StarfallV

Don't fall into this retard scam, DEUS is not at BSC yet, real DEUS tg is [t.me/deusfinance](https://t.me/deusfinance) not deusfinancetg.

bbuchan8

Scam. Website points to DEUS contracts which are actually ERC20 on the Ethereum network. These guys just impersonating them and pointing you to their fake BSc contract which is most likely a rug.

JFKMustang44

DYOR - DEUS Finance / Futures (IOU) but can buy COIN today. Need to buy/have DEUS coin and swap for wCOIN.

jfucella

New to the board. Anyone with an opinion on DEUS finance? Interest use case

jacubwastaken

Yep 👍 No problem. The others I'm into are Orion Protocol (very promising I think), Revv and DEUS.

MephistoNoir

On coinmarketcap it says DEUS is $13,881,428.99 usd market cap fully diluted. And went up 408.19% in 2 months.

noxion

This is actually a real gem. DEUS is on a bonding curve, they have their own AMM to swap on their site a la Nexus Mutual, already on L2 ($STAKE/xDai), expanding to AVAX and Binance Chain. Adding 25,000 stocks, futures, and a more. A beast of a project, it definitely won't be at $20m for much longer.