The equilibrium of the Curve 3Pool, designed to maintain a balanced distribution of USDT, USDC, and DAI stablecoins at 33.33% each, is facing significant disruption.
USDT has surged past 75% dominance within the pool, causing it to de-peg and decline to $0.997.
This initiation of the imbalance can be attributed to CZSamSun, a whale address that borrowed a substantial 31.5 million USDT and exchanged it for Circle USDC, exacerbating the situation.
Traders actively selling USDT for DAI or USDC have contributed to the overwhelming presence of USDT within the Curve 3Pool.
This initiation of the imbalance can be attributed to CZSamSun, a whale address that borrowed a substantial 31.5 million USDT and exchanged it for Circle USDC, exacerbating the situation.
Traders actively selling USDT for DAI or USDC have contributed to the overwhelming presence of USDT within the Curve 3Pool.
“Markets are edgy in these days, so it’s easy for attackers to capitalize on this general sentiment. But at Tether we’re ready as always. Let them come. We’re ready to redeem any amount.” - said Tether’s chief technical officer Paolo Ardoino.
