Algorithmic stablecoin from DEUS Finance loses dollar peg, plunging 30%
DEI, a hybrid algorithmic stablecoin from the DeFi protocol DEUS Finance, lost its dollar peg on Sunday, according to data from CoinMarketCap.
The DEI stablecoin currently trades at $0.66 after recovering from an all-time low of $0.55 recorded on May 16. According to the main announcement from the project team in the past 24 hours, Deus Finance is proposing a bond program to fix the exchange rate problem for DEI.