Weekly Project Updates: Berachain Deposits Surpass $1.1 Billion, Movement Secures $100 Million in Series B Funding, Binance Lists AI-Driven Token, etc
1. Curve’s USD0/USD0++ Pool Experiences Imbalance: USD0++ Surpasses 90%, Triggering Large-Scale Exchanges link On Friday, the proportion of the USD0/USD0++ Pool on Curve, with a Total Value Locked (TVL) of $245 million, tilted severely. The price of the LP Token slumped to $0.9568, and the proportion of USD0++ (Staked USD0) soared to a staggering 90.8%. Users were swapping copious amounts of USD0++ worth less than a dollar for USD0 via Curve. This was presumably related to the latest announcement from Usual, which stated that in the event of early unstaking, USD0++ could be redeemed at a floor price of 0.87 USD0 or redeemed at a 1:1 ratio by burning a certain quantity of USUAL tokens. On Saturday, the Usual Protocol addressed users’ concerns regarding the floor price mechanism of USD0++. It claimed that this mechanism was designed to safeguard liquidity and apologized for the misunderstandings caused by improper communication. To allay users’ concerns, the protocol will roll out two ad...