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Deus Finance’s dollar-pegged stablecoin DEI falls below 60 cents -Breaking

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Deus Finance’s dollar-pegged stablecoin DEI falls below 60 cents

You can find the following: Market continues to grieve over its lossesOn the (LUNAUST, LUNA and DEI debacle. DEI is a stablecoin that was used to collateralize third-party instruments based on the Fantom.FTMDecentralized finance protocol (DeFi), which is based on decentralized finance protocols (DeUS Finance), failed to keep its dollar peg and fell below $0.60 cents Monday.

The DEI price fell to $0.52 and its market capitalization dropped from nearly $100 million down to $52 million. However, despite the depegging of its stablecoin, DEUS Finance’s governance token, DEUS, went up from $163.40 to $327.28, before falling to $255.36.

CoinGecko DEI price chart