Reddit Posts
Someone swapped what had been $131,350 in USDR for $0 in USDC
Never Panic Sell, Dude Loses $107K
Trader swaps 131k stablecoins for $0 during USDR depeg
Someone swapped what had been $131,350 in USDR for $0 in USDC
How a bot stole 107K user funds during DEPEG of stable coin REAL USD
Someone swapped what had been $131,350 in USDR for $0 in USDC
Someone swapped what had been $131,350 in USDR for $0 in USDC
Number 1 platform for the Tokenization narrative [ChainLINK]
Yield Generating Stablecoin USDR Loses Peg, Plummets to $0.50
USDR stablecoin depegs to $0.53, but team vows to provide solutions
Tangible’s USDR Stablecoin Crashes To $0.51
Real USD (USDR) stablecoin depegs and price crashes by 50%
Polygon Based, Real Estate-Backed Stablecoin Real USD (USDR) Has Just Depeged to .60, Dropping 40% in Minutes
The new generation of stablecoins: analysis of the recent experiments
Trading futures is almost identical to online gamblingz
I think major companies would prefer stablecoins over Bitcoin as form of payment
Just cause there are scheme projects doesn’t make the crypto a scheme itself…
I hate the fact that USDT dominates the market
A daily reminder to keep some stablecoins in case of a dip.
Whenever there’s a bull run, stock up on stablecoins in anticipation of a dip.
My market dip strategy is one word: stablecoins.
How will major companies be able to trust Tether as a form of payment? We barley trust them now
How will major companies be able to trust Tether as a form of payment? We barley trust them now
Mentions
There was a person talking about how they didn't need the stablecoin part of it, and I agree. I was interested in USDR and I just wanted to be paid out as a digital landlord. I didn't *really* care what the value of USDR was, except logically I would like the thing I'm being paid in not to go down too much. They said they were moving to 'Baskets' (commence crypto basket-weaving jokes) that would basically do what people wanted, just pay out the rent payments to the holders. I've no idea if that's just a huge scam overall. Maybe I'm dumb for being remotely interested, but it seemed reasonable that people paying rent could give some sort of return.
Subject USDR-- Who in their right mind would think something as volatile as real estate (esp when commercial real estate is struggling world-wide) would be a “safe” backing for a stable coin? Longer term real estate is generally safe, and always bounces back after crashes... backing a stable coin with it tho?? Only if the papers say the coin is expected to fluctuate between 1.00 and 0.10 at any given time
Someone sold their entire portfolio of over 130,000 USDR for 0 USDC w a moment of panic.
Here are the top news in Crypto for the past 24 hours: 🌕 Genesis crypto broker ceases trading, halts withdrawals following a court-approved $175M settlement with bankrupt platform FTX. 🌕 MetaMask integrates Stripe for US users, enabling fiat transactions via the mobile app, browser extension, and MetaMask Portfolio through Link. 🌕 CFTC sues Voyager Digital and ex-CEO Stephen Ehrlich, alleging fraud and registration failures, seeking restitution, and imposing penalties. 🌕 Trezor unveils Trezor Safe 3 wallet, Trezor Keep Metal private key storage, and a limited Bitcoin-only wallet for its 10th anniversary. 🌕 ARK Invest files an updated prospectus for its spot bitcoin ETF, indicating ongoing discussions and clarifications with the SEC. 🌕 CoinList launches staking fund for U.S. accredited investors, supporting Ethereum and Near initially, with plans to add more chains. 🌕 Mastercard concludes CBDC pilot with Reserve Bank of Australia, exploring CBDC use and purchasing Ethereum-based NFTs with locked CBDCs. 🌕 Account Labs raises $7.7M to develop UniPass, a smart wallet using Google accounts for Web3 access, and plans Southeast Asia adoption. 🌕 LayerZero integrates with OpBNB, enabling BNB Chain apps to expand and explore over 40 chains. 🌕 Trader mistakenly swapped $131,350 in USDR for $0 in USDC on OceanSwap, amidst a crash where USDR, partially real-estate-backed, lost its peg.
tldr; Someone appears to have swapped $131,350 worth of USDR for $0 in USDC, possibly due to a "fat finger" trade. The trade occurred as the stablecoin USDR depegged and lost almost 50% of its value. The user may have panic sold during the depegging, resulting in the mistake. USDR's collapse was caused by a rush of redemptions, eroding its collateral and leaving illiquid assets behind. The price of USDR has since rebounded slightly but remains low. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
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Why anyone would keep their funds in USDR is beyond me.
Well there's one way. USDR price could actually go to zero. That way the trade was actually fair...
USDR you mean? Be glad your fat fingered typing didn't lose you ~$130k
tldr; During a crisis with the real-estate-backed stablecoin USDR, a trader swapped 131,350 USDR for 0 USDC, resulting in a complete loss. The swap occurred on the BNB Chain through decentralized exchange OpenOcean when USDR depegged from par value by nearly 50% due to a liquidity crunch. A maximal extractable value (MEV) bot took advantage of the discrepancy and made $107,002 in profits through an arbitrage trade. This incident highlights the risks and potential losses associated with trading stablecoins during periods of poor liquidity. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
tldr; Someone appears to have swapped $131,350 worth of USDR for $0 in USDC, possibly due to a "fat finger" trade. The trade occurred as the stablecoin USDR depegged and lost almost 50% of its value. The user may have panic sold during the depegging, resulting in the mistake. USDR's collapse was caused by a rush of redemptions, eroding its collateral and leaving illiquid assets behind. The price of USDR has since rebounded slightly but remains low. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Sounded like they were going to sell whatever crypto assets they had, not much. Then they were going to tokenize the properties and try to sell them as 'basket' tokens, not much different than USDR, then trade them for USDR. Then if that doesn't fill the market they'll give their Tangible NFTs that are locked. Source: I wandered into their discord.
I was not aware that USDR was collateralized by USDR. Not a great strategy.
save the time and fork it, create USDR classic, USDRC
tldr; USDR, a stablecoin issued by Tangible, lost its peg to the US dollar and dropped in value by 50% within hours. Stablecoins are designed to maintain price parity with stable assets, but when they lose their peg, it is usually due to instability in the asset reserves or failure to satisfy redemption requests. USDR's reserve composition includes tokenized real estate, and the company plans to replenish its reserves to make users whole. Most popular stablecoins are backed by cash and short-term US debt. Tangible still holds enough reserves to back the USDR tokens in circulation, but it has seen a major drop in reserves. The US House Financial Services Committee has passed legislation requiring stablecoin issuers to back their tokens with cash, cash equivalents, and Treasury bills. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
USDR is backed by real estate, and is designed to generate yield for its holders. USDR—a “rebasing” stablecoin issued by asset tokenization protocol Tangible—traded for $0.996 at 7:53 am ET on Wednesday before dropping to just $0.50 by noon.
Another massive depeg of another stablecoin, (which was offering 20% APR, sounds familar?) USDR. I'm starting to get scared of these things.
Don’t forget the USDR 62,810 in collateralception going on too
Real USD (USDR) depegged to $0.6 It's so real that it's backed by nothing. Just like the real USD 😂
Are we getting another "steady lads, deploying capital"? Or maybe a USDR 2.0?
tldr; USDR stablecoin, backed by real estate and cryptocurrencies, lost its peg to the US dollar due to a rush of redemptions that drained liquid assets from its treasury. The coin's price dropped to $0.53 but recovered slightly. The project team assures that the real estate and digital assets backing USDR still exist and will be used to support redemptions. Despite the loss, the project's assets are still worth more than the entire market cap of the coin. Stablecoins can sometimes lose their peg under extreme market conditions. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
glad I didn't even know about USDR, hope not too many got burnt
Real USD (USDR) depegged to $0.67 If anyone though a stablecoin called Real USD gonna be stable, they probably bought Safemoon too
USDR depegged to $0.67 I remember seeing this shilled all across Twitter. Stablecoin backed by Real Estate? That's probably the dumbest shit crypto produced in 2023. First, RE is very illiquid. Second, they could lie about buying the RE. Even if they really bought the RE with part of your money, they get the RE and you get a useless token.
>I'd strongly urge people to not try to arb this one, because there's a very real possibility it never repegs. So, something I noticed was that there is an ArbBot already at work. As DAI trickles in as payments, it's able to drain that value because the USDR Reserves are still honoring DAI:USDR 1:1. [https://polygonscan.com/tx/0x77606e816d32dde17f8bed0aae7805b6fa6b776e65ba841da9f7c5426a86252c](https://polygonscan.com/tx/0x77606e816d32dde17f8bed0aae7805b6fa6b776e65ba841da9f7c5426a86252c) Example of it waiting until $100 of DAI was in the reserves, it borrows $50 from Balancer in a flash loan, Buys 100 USDR for 50 DAI, trades that 100 USDR to 100 DAI at the reserves 1:1.
USDR. Haven't even heard of it, looks like it's a stablecoin in the Polygon (Matic) chain.
USDR socialized the money.
USDR decided to commit hari kari today, [https://www.coingecko.com/en/coins/real-usd](https://www.coingecko.com/en/coins/real-usd)
Another stablecoin has lost its peg. This is Polygon's USDR and as a Matic owner I don't like this at all.
USDR is like inverse Nigerian Prince.
Also they had USDR as per of reserves for USDR. That’s one hell of a rug pull loop
In fact, that was some “real” crash we’ve seen for USDR
>Issued by TangibleDAO, the stablecoin listed as USDR, had a **market cap of about $45 million** before its price began spiraling on Wednesday. Just another small cap project failing - nothing that doesn't happen daily in this space.
Why did the other stable coins refuse to go to the USDR depeg party? They were afraid the party might be unstable
tldr; Real USD (USDR), a stablecoin backed by real estate assets, has depegged, causing its price to plummet by 50%. The stablecoin, listed as USDR, had a market cap of about $45 million before its price began spiraling. It appears that USDR lost its peg due to a rush of redemptions, eroding its collateral of illiquid assets like real estate and liquid assets like DAI. The stablecoin is now undercollateralized, except when considering its own native token. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
This is the reason you don’t invest money into project which starts with names real, safe or other bullshit. There is currently 0 DAI in the backings and only 7M immediate exist liquidity available for 67M USDR. Lol who would have thought, I’m not surprised at all.
Yeah, weird, I tried out a small amount of USDR and now it's offering pDAI or promisary DAI...okay.
USDR, a "stablecoin", has now depegged by over 30%
Tangible has been one of the biggest, most developed RWA protocols offerings out there. They have tokenized real estate, gold bars, wines, and luxury watches. To support their RWA store, they use Pearl exchange, the main liquidity hub for RWA assets on Polygon. Pearl has just launched $CAVIAR, an automated ve(3,3) that collects bribes in stablecoins, automatically votes for pools, and has no lockup times. You can get around 230% APY on USDR (stablecoin) rewards by buying and staking your CAVIAR on [www.tangible.store/caviar](https://www.tangible.store/caviar?referrer=0x4939998fD996b0b3bAA394d20EB723363F38e208)
Correction: USDR uses DAI as backing, and earns yield through real-estate (which I found quite interesting). Other yield-earning stablecoins include USD+ and CASH. Just make sure to do research on where the yield comes from and be aware of the fees in buying/selling them.
Oh thank you so much! Thats really interesting and will definitely try out some of the other ones on pancakeswap etc. I will try to experiment with USDR as well! thank you again!
Sure, I can try. Some of the pools you are currently in have similar pools which offer higher APY. BUSD-USDT on Pancakeswap yields around 13% right now. FRAX-USDC on Uniswap Arbitrum is at 130%, though thats just because the pool is small. Bridges are a nice and safe way to earn, just make sure they are trusted because you do NOT want an Allbridge incident to occur. If you can catch them, some platforms offer large rewards for a short period of time. Curve on Avalanche had their 3CRV stablecoin pool earning triple-digit APY for a week or something. Personally, I used to yield-farm the heck out of stablecoins that earn yield, like USDR. You could mint it with USDC and then get 40% APY for a relatively safe investment. I know some other ones, but I don't really trust them to put money into them. I know there are some looping protocols that allow you to borrow like 5x and farm with that. Don't know how safe or sustainable those are. As always, higher yield is possible but only through higher risk.
actual staking, nowhere. but I provide liquidity through frxETH/ETH on Canto, and lent a bit of my ETH so I could also provide liquidity for USDR/USDC on Velodrome and a few more smaller pools.
There is, and decentralized crypto like btc is the way.... if the masses are not educated they will go along with CBDC , which will be called USDR and will be centralized and tied to your social credit score and instant fines like in China currently, but only worse because they will be using a new AI algo.