MainStreet defends MSUSD backing after price drop
MSUSD stablecoin lost its dollar peg and traded near $0.378 amid concerns over proof-of-reserve. Morpho’s msY/USDC lending market reached 100% utilization, highlighting liquidity stress.
MainStreet is defending the backing of its MSUSD stablecoin after the token lost its dollar peg. MSUSD was trading near $0.378 amid concerns over proof-of-reserve. Morpho’s msY/USDC lending market reached 100% utilization, highlighting liquidity stress.