RWA Protocol Tangible: Panic selling caused by the short-term redemption of DAI and the real estate liquidation timeline has led to a serious decoupling of USDR

ChainCatcher news, the USDR issuer and RWA protocol TangibleDAO officially stated that the panic selling caused by the short-term redemption of DAI and the real estate liquidation timeline has led to a severe de-pegging of USDR. According to Coingecko data, on October 11, the real estate-backed, dollar-pegged stablecoin USDR (Real USD) has severely de-pegged, dropping to a low of $0.5, and the current USDR price has rebounded to $0.67.

TangibleDAO also stated that to quickly restore the stablecoin price and user trust, a series of plans will be launched, including: the protocol-owned liquidity (POL) has been withdrawn from Pearl, USDR has been burned (the protocol cannot redeem it on its own), and as much as possible will be liquidated from the insurance fund. Existing liquid assets in the market and locked token positions will be sold. The remaining stablecoins from the POL and insurance fund sales will be provided to customers through the redemption process described below; a tokenized real estate pool will be launched, and after deployment, it will open for USDR redemption. TangibleDAO emphasized that once the above redemption process is completed, USDR will be deprecated.