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The stablecoin USDR, which is backed by real estate, is seriously unanchored: it fell nearly 49% in 24 hours, temporarily trading at $0.51.
2023-10-11 15:32:47
Odaily News CoinGecko data shows that USDR (Real USD) has been seriously unanchored, temporarily trading at $0.51, with a 24-hour drop of 48.8%. In August last year, TangibleDAO stated that it had issued USDR, a stable currency backed by physical real estate and anchored to the US dollar, on the Polygon network. Its white paper shows that USDR can be converted into DAI at 1:1 at any time. USDR will issue tokens through over-collateralized real estate and distribute the proceeds to holders to offset the depreciation of its linked currency and achieve tokenization of real estate.