The recent USDT depeg news is the umpteenth time users have had to worry about stablecoins in the past few years. Users have been cautious with stablecoins since the Luna – UST situation in May 2021. However, USDT’s recent depeg is nothing to be scared about as it was caused by a pool imbalance on Curve’s 3pool, which was corrected over the next few days. This is coming about two months after the USDC depeg that tanked crypto investors’ portfolios.
Amid the chaos, Uwerx has progressed without issues on presale as the new freelance platform continues to raise funds on its ICO; you should consider joining for some potential profit opportunities.
Curve DAO’s (CRV) Role In The Tether (USDT) Depeg
Curve DAO (CRV) is the governing protocol of the Curve Finance decentralized protocol, and it’s controlled with the CRV token. Curve is a DeFi protocol on Ethereum used for trading stablecoins. There are about 17 Curve pools of varying stablecoins, but the protocol has a 3pool that consists of a massive amount of USDT, USDC, and DAI, the three largest stablecoins in the market.
The pool consists of the three stablecoins in 33.3% volume each. The price of USDT fell by 0.3% following a huge trade on the network that caused the weightage of USDT to spike to 70% from the usual 33.3%.
Onchain data shows that the USDT depeg was because a whale address called CZSamSun borrowed 31 million USDT and swapped the funds for USDC leading to a slight drop in USDT dollar-pegged value. He then made deposits on Aave (AAVE) following the loan, and some minutes later, another address took advantage of the USDT/USDC price difference for a $50 million loan.
Curve DAO (CRV) has suffered from recent price trends, but the token is picking back up to reach about $1. However, we consider Uwerx a much stronger crypto asset to get in on, as the presale could lead to exciting price pumps.
Uwerx (WERX) Could Have Some Exciting Pumps Ahead
The price pump potential of new projects is so massive that they could turn little money put in their ICO into huge gains, and Uwerx could be the next biggest play from presale in the market. Uwerx is a new freelance platform currently in its ICO funding stage, allowing early buyers to get in at heavily discounted prices. The presale price has changed throughout the event, but it’s still a perfect range for entry at every price point.
Uwerx’s new platform is looking to remodel the freelance economy with its unique features. The new platform is launching on the Ethereum network, and it aims to incentivize users with its WERX tokens. The same native token serves as the utility and governance token, and being a decentralized platform, users can buy governance stakes with their WERX tokens.
Another exciting feature of Uwerx is its low 1% fees compared to 10% – 20% from other freelance sites. Uwerx presale has been vetted as secure after thorough audits from SolidProof and InterFi Network, and you should look to get in right away.
Presale: invest.uwerx.network
Telegram: https://t.me/uwerx_network
Twitter: https://twitter.com/uwerx_network
Website: https://www.uwerx.network
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