Decision is due to concerns over stablecoin's dependency on Morpho Blue
The methodology applied in this rating is based on analysis of DeFi protocol risks, including lending design, collateral quality and governance dynamics.This change primarily stems from concerns over the heavy reliance on the external protocol Morpho Blue, where over 50% of USDA’s collateral is deposited.
Morpho, a relatively new and less battle-tested money market, introduces a potential single point of failure. The downgrade also follows a similar incident involving the Euler hack in March 2023, where Angle's reserves were compromised, underscoring the risks of external dependency. During that incident, $17.6 million of Angle’s USDC reserves were affected due to the hack on Euler.Dan is a news editor and writer with 12 years of experience in finance and emerging technologies, with a strong focus on crypto.
MEET48 is about to Launch the First No-Click Idol Training & Management Game on TON, Coin Idols, Closely Integrated with its Idol Culture
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Exponential.fi Wants to Make It Easier to Invest in DeFiSam is CoinDesk's deputy managing editor for tech and protocols. He reports on decentralized technology, infrastructure and governance. He owns ETH and BTC.
Read more »
IRS Commissioner Danny Werfel warns Chicagoans about ‘the exponential growth of tax scams’“You can go on Youtube to learn how to fold a fitted sheet, but going on Youtube to figure out what tax credit you’re eligible for is a huge mistake, and it’s getting people in tr…
Read more »
Tesla stock extends selloff as UBS downgrades to Sell on valuation concernsTesla stock extends selloff as UBS downgrades to Sell on valuation concerns
Read more »
Amazon Shoppers Saw “Exponential' Growth From a $13 Oil That Left Their Hair 'Silky'Amazon Prime Day 2024 is packed with skin care and hair health beauty deals, but the deep discount on Viva Naturals Coconut Oil for Hair and Skin is one of the best. Shop the game-changing Prime Day beauty deal while it’s 48 percent off for two days only.
Read more »
Just 39 Random Things That'll Bring You An Exponential Amount Of JoyThis is your official sign to treat yourself. You deserve it. 😌✨
Read more »
Bill Ackman's top stock UMG crashes 26% after results, Citi downgradesBill Ackman's top stock UMG crashes 26% after results, Citi downgrades
Read more »