I know once CDC announced earned cuts mostly to their stablecoins it was a nightmare and basically most people went from getting 12% apy down to 1%-5% apy on their stablecoins depending on how much they had.
I remember seeing a lot of people suggest the next best stablecoin to invest in was the UST because of anchor and 19.5% apy. I know a lot of people that ended up switching over to this since it seemed the new best thing. Not even 2 weeks later this disaster happens and a stablecoin drops 30% with fears it won't be able to re-peg back to $1.
It must suck getting screwed over by cdc then going to anchor only to get screwed again 2 weeks later. My condolences ???? to you all. I know I almost was going to move my stablecoin stack over but knew 19.5% was not sustainable for long if everywhere was slashing rates so decided against it and just went to voyager and kept it in USDC. I didn't expect udt to go the way it did, let alone this quickly
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