Terra’s UST depeg first started on Curve Finance and soon became visible in the 3pool. UST defender failed to close the gap between UST and DAI/USDC/USDT (75%-25%) on May 8th, the gap has since widened to 99%-1% while UST price drops to sub $0.1.
Depeg contagion has spread over to a wider group of stablecoins, especially to USDT. The 3pool proportion gap for USDT/USDC/DAI widened to…
