Depegging debacle: Is DEI, hybrid algorithmic stablecoin, following UST’s footsteps

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Following the decimation of Terra’s UST and a temporal depegging of Tether’s USDT, Deus Finance (DEI) is the latest to suffer the same fate.Currently valued at over $50 million by market capitalization, DEI is a hybrid algorithmic stablecoin from DEUS Finance, a DeFi Protocol.

DEUS Finance uses two tokens called DEUS and DEI. The former is the project’s native governance token, and the latter is its dollar-pegged stablecoin.

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