USDD has changed from an algorithmic stablcoin to a hybrid one
USDD's collateral ratio is currently 225%. USDD's collateral ratio will not fall below 130%. USDD becomes the decentralized stablcoin with the highest collateral ratio. Launched initially as an algorithmic stablecoin, USDD has seamlessly evolved into a stable token with excessive collateral, according to the project's blog.
Technical analysis: more than $92 million was stolen from Mirror Protocol based on Terra Classic
A member of Terra Classic community discovered an exploit in the Terra Classic-based Mirror Protocol's DeFi code that allowed an unknown attacker to withdraw about $90 million. The attack took place in October 2021, but due to the specifics of Mirror Protocol and Terra Classic, it only became known last week. And over the weekend, May 28 and 29, Mirror Protocol lost another $2 million in cryptocurrency. According to information of protocol developers, last attack was connected with vulnerabilities in Mirror Protocol oracle which were exploited by unknown hacker.
In 2021, 12% of Americans own cryptocurrencies
The U.S. Federal Reserve (Fed) released its annual report, which analyzed the financial preferences of American residents. The document notes that Americans are more likely to use cryptocurrency as an investment tool rather than to make payments.