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Users flock to Curve due to lack of stablecoin liquidity in major DEX

Argentina, Entre Ríos, Verna
Published 2 years ago
ID #1247
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Users flock to Curve due to lack of stablecoin liquidity in major DEX
Argentina, Entre Ríos, Verna,
Published 2 years ago

X-Node Details

In a tweet posted by user @cryptotutor on Friday, a screenshot appears to show a 27% spread between the Magic Internet Money (MIM) and USD Coin (USDC) stablecoin trading pair on the decentralized exchange, or DEX, Uniswap (UNI). Both have a theoretical 1-to-1 peg to the US dollar.

"Magic Internet Money" trolled the user by attempting to redeem approximately $1 million worth of MIM, but received a quote of only 728,600 USDC. Others quickly took to social media to complain as well. 

In another screenshot, user @DeFiDownsin allegedly received a quote to trade 984,000 in MIM for just 4,173 in USDT on SushiSwap (SUSHI).



Users DEX

stablecoin DEX

liquidity DEX

stablecoin Users 

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    mary
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    X-NODE Location

    Argentina, Entre Ríos, Verna
    Entre Rios Ros Maria 384