Tangible Faces Crisis as USDR Stablecoin Crashes: What’s Next?

• Tangible experienced a significant crisis as its native yield stablecoin, Real USD (USDR), suffered a sharp depegging.
• Panic selling of the stablecoin caused a 46.07% price drop in just 24 hours.
• Tangible announced that its future will not include Real USD (USDR).

Tangible, an ecosystem for tokenized real-world assets, suffered from the crash of its stablecoin, Real USD (USDR). The stablecoin is a native yield stablecoin backed by real estate, but Tangible shared that there has been “an accelerated drawdown in the market cap, combined with the lack of DAI for redemptions; panic selling ensued, causing a depeg.”

An update on $USDR

Over a short period of time, all of the liquid $DAI from the $USDR treasury was redeemed.

This lead to an accelerated drawdown in the market cap.

Combined with the lack of DAI for redemptions, panic selling ensued, causing a depeg.

We’re working on…

— Tangible (@tangibleDAO) October 11, 2023

The price of USDR at the time of writing was $0.5238, according to CoinMarketCap, a 46.07% decrease in the last twenty-four hours. Tangible shared that this was a liquidity issue; the real estate and digital assets backing the stablecoin…

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