DeFiBearishcrypto.news · 5h ago7/10
💎
MainStreet defends MSUSD backing after 85% price drop
MainStreet's MSUSD stablecoin has collapsed to $0.378, losing its dollar peg amid a liquidity crisis on Morpho's msY/USDC market reaching 100% utilization. The incident raises serious questions about the backing and stability mechanisms of the protocol, forcing MainStreet to defend its reserve claims.
