1BCH Newsfeed, 5 July 2022

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Creating a more complete SmartBCH DEX and DeFi experience together

2 years ago

Hi All, it's been a quiet past 1+ week for us with no material updates. We did have a short statement we would like to share below on sBUSD:

Based on recent sharing from certain third parties, we are concerned about sBUSD and its current depegging:

"According to these findings the address listed in the Whitepaper simpleledger:qzsusd887ends0k6khl0tdf7as0v032azvt4a9wlup has a total balance of 0 flexUSD at the time of writing and that at it's maximum around 14k worth of USD"

We are particularly concerned about the availability of readily available assets backing sBUSD. We are neither for or against the sBUSD ecosystem, nor are we commenting on its team, but we feel obliged to make this statement given that we had previously listed and had farms on sBUSD. As always, please always do your own research and proceed with caution during these volatile times. Thank you.

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