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Boop.Fun leading the way with a new launchpad on Solana.
I just saw a notice in the group that @YeiFinance has temporarily suspended the operation of the protocol as a precautionary measure due to the current market conditions of fastUSD.
In fact, this suspension has long been signed. fastUSD has been highly dependent on Elixir's deUSD, and just a few days ago, Stream Finance disclosed a loss of $93 million in its fund assets, of which $68 million came from Elixir's exposure, directly leading to a liquidity crisis in deUSD and sdeUSD.
The underlying structure of high-yield stablecoins is often far more complex 😂 than it seems, and no one should take big money to play Defi anymore in the near future, right?
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