PANews reported on October 7th that USD.AI, a stablecoin protocol providing credit for AI, announced that it would increase the autoUSDai cap by $100 million at 0:00 AM Beijing time on October 9th to support the orderly liquidation of USDT0 positions in the Euler Frontier USDai market. USD.AI stated that this cap increase was a targeted stabilization measure, not a routine cap increase. Demand for USDai has already pushed the exchange rate to $1.06. Yesterday, Euler Finance suspended USDai lending on Plasma. The USDai market will begin partial repayments tomorrow, with LTVs beginning to decline on Wednesday. All open USDai borrowed positions must be repaid and closed promptly. All new USDC deposits will be directly transferred to autoUSDai on Arbitrum, where they will receive a 25x points multiplier for 30 days. Additionally, starting today, USD.AI will reduce the AlloGam multiplier for all non-aligned pools from 10x to 3x, protecting the USDai peg and rewarding those who help stabilize the system.PANews reported on October 7th that USD.AI, a stablecoin protocol providing credit for AI, announced that it would increase the autoUSDai cap by $100 million at 0:00 AM Beijing time on October 9th to support the orderly liquidation of USDT0 positions in the Euler Frontier USDai market. USD.AI stated that this cap increase was a targeted stabilization measure, not a routine cap increase. Demand for USDai has already pushed the exchange rate to $1.06. Yesterday, Euler Finance suspended USDai lending on Plasma. The USDai market will begin partial repayments tomorrow, with LTVs beginning to decline on Wednesday. All open USDai borrowed positions must be repaid and closed promptly. All new USDC deposits will be directly transferred to autoUSDai on Arbitrum, where they will receive a 25x points multiplier for 30 days. Additionally, starting today, USD.AI will reduce the AlloGam multiplier for all non-aligned pools from 10x to 3x, protecting the USDai peg and rewarding those who help stabilize the system.
USD.AI will increase the autoUSDai cap by $100 million to support USDai exchange rate stability
PANews reported on October 7th that USD.AI, a stablecoin protocol providing credit for AI, announced that it would increase the autoUSDai cap by $100 million at 0:00 AM Beijing time on October 9th to support the orderly liquidation of USDT0 positions in the Euler Frontier USDai market. USD.AI stated that this cap increase was a targeted stabilization measure, not a routine cap increase. Demand for USDai has already pushed the exchange rate to $1.06.
Yesterday, Euler Finance suspended USDai lending on Plasma. The USDai market will begin partial repayments tomorrow, with LTVs beginning to decline on Wednesday. All open USDai borrowed positions must be repaid and closed promptly. All new USDC deposits will be directly transferred to autoUSDai on Arbitrum, where they will receive a 25x points multiplier for 30 days. Additionally, starting today, USD.AI will reduce the AlloGam multiplier for all non-aligned pools from 10x to 3x, protecting the USDai peg and rewarding those who help stabilize the system.
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