 | I'm sure everyone has heard about the Cashio crash by now. However for those who haven't, Cashio is/was a stablecoin on Solana and a hacker found an infinite mint glitch, crashing the price. Here is the price graph: The lesson from this story is that stable coins are not 100% safe. Sure, the best stable coins such as UST are very secure, but there is always the slight risk that something goes wrong. The reason I say this is because a lot of people espouse holding stable coins and staking them for their high APYs, with (some) people saying that it's risk-free. It's low risk, but not risk-free. [link] [comments] |
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