A stablecoin called Real USD (USDR), which is built on the Polygon (MATIC) layer-2 scaling solution and backed by real estate assets, has experienced a significant loss in value after detaching from the US dollar. The decentralized autonomous organization (DAO) behind USDR, Tangible, has acknowledged the setback and outlined a plan to assist affected investors. The depegging occurred when the treasury of Tangible was depleted of Dai (DAI), a stablecoin that formed part of its reserves. This led to a rapid decline in the market cap of USDR, causing panic selling and a depeg. Tangible intends to focus on building deep liquidity and expanding the ecosystem for tokenized real-world assets (RWAs), as there is a clear demand for the efficient delivery of off-chain yield to on-chain users. However, Tangible has decided that USDR will be deprecated once the redemption process is complete, as there were vulnerabilities in the design that made it susceptible to attack. The organization believes it can protect its users at its current size, but scaling further may have posed challenges. A full post-mortem will be shared in due course.

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Information	Details
Geography	Global
Countries
Sentiment	negative
Relevance Score	1
People	None
Companies	Real USD, Tangible, MATIC, Dai, Polygon
Currencies	Dai
Securities	None