278.6K @connectwithtola On October 26, 2024, $CHI stablecoin (Chi USD), issued by Essence Finance on the Scroll ecosystem, crashed by 98%.
The collapse happened after more than $20M in collateral was withdrawn from the protocol, triggering panic across the market and leading massive sell-offs.
Do you know about other stablecoins that have depegged in the past?
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86.3K @zlexdl 💹 Chi (#気)
5aUemPEExdpnRYwrHTsALeQgDFda63dAP5bNnSdgbonk
🔥From 30.4K To 2.5M. Gain: 82.3x
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https://t.co/ONCk7VWxvr https://t.co/vDApXsf840
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