Will USDN and Waves be next to collapse?

This algo stable has a very similar mechanism to Terra. There are reports on Reddit that they are blocking withdrawals from the waves chain right now. USDN has lost peg. Waves is a Russian chain so there is added geopolitical problems. The only reason I see right now that it hasn’t collapsed is that it doesn’t have as wide of a distribution as UST so they are able to block withdrawals from waves chain and isolate the problem. It looks like they are in full panic mode though and trying to get liquidity with insane APR’s. But trust in algo stables is completely gone at this point. Who is going to supply the capital they need?

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11 thoughts on “Will USDN and Waves be next to collapse?”

  1. With current market conditions, you are looking at any project being left for dead. If there is enough fear and frenzy, then investors can sell off

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  2. my withdrawal is on hold for the last 2 days.

    If I cant get my money out i’m probably screwed. If I get it out i’m never putting money in an exchange again.

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