Users flock to Curve amid lack of stablecoin liquidity on major DEXs -Breaking
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A screenshot of a tweet by @cryptotutor on Friday shows a 27% spread between stablecoin magic internet money (MIM), and ().USDC) trading pair on decentralized exchange, or DEX, (UNI). They both have a theoretical peg at 1:1 with the U.S. dollar.
Cryptotutor joked that “Magic Internet Money” was a way to make $1 million worth of MIM swaps. However, he received only 728.6k USDC as an offer. Other users took to social media quickly to voice their dismay. User @DeFiDownsin was allegedly offered $984k of MIM in exchange for only 4,173 USDT at SushiSwap.SUSHI).
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