$STABLZ CHECK IN. It is clear there's been some concern about USDC and the current market situation today.
11 Mar 2023, 22:17
📣 $STABLZ CHECK IN
It is clear there’s been some concern about USDC and the current market situation today. However stability is in the name and as always, $STABLZ is here to provide just that.
Today our depeg protection successfully detected that there was a mismatch between the approximate $1 expected value for USDC and DAI, and notified us promptly. Nonetheless, the depeg was not enough for our threshold to shut down pools.
This is great news as it means that our system reacted promptly and is working consistently/efficiently. If it had reached the proper depeg threshold, it would have likely shutdown pools and withdrawn all deposits as non-depegged assets to ensure the safety of our users.
We hope this brings some reassurance to our users and as always…
Stay Safe
Stay $STABLZ.
#JoinTheDefiEvolution
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