Concerns arise regarding the depegging of USDB on Blast_L2, with reports indicating a decline in its value. Users are observed converting USDB to ETH, impacting the stability of the currency. Strategies to mitigate losses involve converting USDB to DAI, albeit with a time delay.
BTC.D is falling while you're busy looking at BTC.
USDB (Blast USD) seems to be falling. Edit: my sense is that this is because people on Blast are converting USDB to ETH and the way to arb it is to withdraw USDB and convert it to DAI but that hurts points and takes 14 days. ht @CirrusNFT & @uncrncap https://t.co/goygbE3krI
NEWS: USDB on @Blast_L2 seems to be depegging (h/t @CirrusNFT) https://t.co/mfxgCkfWte
USDB (Blast USD) seems to be falling. ht @CirrusNFT https://t.co/GYBnwaBTpj
In a bit of a worrying move, USDB (Blast USD) is falling. ht @CirrusNFT https://t.co/QS4c6G60GZ
One thing I have been wondering about re @Blast_L2 is the USDB deposits So back in the day when you deposited let's say $ 2,000 USDB and 1 ETH was $ 2,000 at the time, for the points it auto-converted it to ETH (without actually converting it) so $ 2,000 USDC deposited = 1 ETH…