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Cryptopolitan
2022-05-16 15:31:29

DeFi lender incurs $35 million loss after pricing depegged stablecoins at $1

DeFi lender incurs $35 million loss after pricing depegged stablecoins at $1

Scream, a Fantom-based Defi lending protocol, has sustained $35 million in bad debt after neglecting to change the prices of two stablecoins that dropped their US dollar peg – Fantom USD (fUSD) and DEI. The stablecoins were listed for $1 on the Scream protocol, while in fact, they were trading far below a dollar price....

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