Jump to content

Recommended Posts

Posted

read and weep ????

 

The Meltdown of IRON

How Polygon’s first billion-dollar protocol unraveled.

https://irony-97882.medium.com/the-melting-of-iron-89469b01e083

 

The dust hasn’t even settled on the collapse of the IRON stable coin —$262 million in USDC collateral is still locked in a smart contract due to an embarrassing programming bug —but I already feel like writing about it. The whole thing is funny to me, because I got out relatively unscathed. At least for me it was educational, revelatory even.

 

The collapse of IRON was (as of this writing) not a rug pull. The developers seem to have been earnest in their attempt to create a new kind of stablecoin , one that was only partially collateralized by a “real” stablecoin. Like many financial collapse stories, this is a story of folly.

 

 

Posted

do we really need a separate topic for every single shítcoin going bust?

all people who invested in that shítcoin did their own research and accepted the risk ????

Posted
1 hour ago, fdsa said:

do we really need a separate topic for every single shítcoin going bust?

all people who invested in that shítcoin did their own research and accepted the risk ????

good point, we should have a thread dedicated to all those crypto collapses ????

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • Recently Browsing   0 members

    • No registered users viewing this page.


  • Topics

  • Latest posts...

    1. 1

      Europe Braces for Escalation: Germany Mobilizes NATO Troops Amid Putin's Nuclear Threats

    2. 227

      Why I left Thailand

    3. 2

      Ellen DeGeneres Relocates to the U.K. After Trump’s Election Win

    4. 2

      Ellen DeGeneres Relocates to the U.K. After Trump’s Election Win

    5. 8

      Putin has vanished

    6. 2

      Ellen DeGeneres Relocates to the U.K. After Trump’s Election Win

    7. 1

      Europe Braces for Escalation: Germany Mobilizes NATO Troops Amid Putin's Nuclear Threats

    8. 0

      Shocking Online Threats: Trans Woman Targets JK Rowling and Nancy Mace in Call to Violence

  • Popular in The Pub


×
×
  • Create New...