Warning: A Stablecoin Has Lost Its Peg to the Dollar – Here’s What You Need to Know

According to DEX Screener data, YU, the stablecoin of Yala, in which Polychain invested, lost its stable price as of 05:14 CET ￰0￱ YU price fell to $0.2074 before rising to $0.923 and is currently trading at $0.70. The YU/USDC pool on Ethereum on Uniswap has only 1,450 USDC in ￰1￱ Yala team stated in a statement that the protocol had recently been subjected to an attempted ￰2￱ company announced that it had identified the issue in collaboration with its security partner, SlowMist, and that necessary fixes were ￰3￱ showing the decline in the price of YU, which should be fixed at $1. Related News: Experienced Expert Reveals: “The Market is Underestimating It, But a Major Bitcoin Announcement from the US Could Be Coming” The following statements were made by Yala: “As part of system improvements, the Convert and Bridge functions will be temporarily ￰4￱ this period, maintenance is being performed to ensure the protocol's full ￰5￱ other protocol functions are unaffected and user assets are ￰6￱ priority is to make the system more robust and increase ￰7￱ will share additional updates once maintenance is complete.” *This is not investment ￰8￱ Reading: Warning: A Stablecoin Has Lost Its Peg to the Dollar – Here’s What You Need to Know