uxdprotocol

ChainCatcher news, according to the official Twitter of UXD Protocol, the total amount of funds affected by the Mango attack incident for the Solana ecosystem algorithmic stablecoin protocol UXD Protocol is $19,986,134.9037.UXD Protocol stated: "Our insurance fund is sufficient to cover the losses. UXD is fully secured, and once Mango Markets recovers from the exploit, users will be able to redeem. The total amount of the insurance fund is $53,527,304.7757. UXD Protocol has suspended UXD minting to minimize risk. Once we confirm that the issues with Mango Markets are resolved, the minting function will be re-enabled. Meanwhile, users can exchange UXD for USDC on Jupiter Exchange. There is enough liquidity for UXD holders to redeem USDC at par value." (source link)

Chain Catcher news, the new public chain Sei focused on DeFi announced today that the Solana ecosystem algorithmic stablecoin UXD Protocol is launching UXD on the new public chain Sei.Sei stated that the integration of the UXD stablecoin, as a fundamental component of DeFi, will provide Sei users with a permissionless, decentralized, and stable unit of account. Additionally, UXD is the first Cosmos-native stablecoin deployed on Sei. (Source link)