GrandPapillon Posted June 20, 2021 Share Posted June 20, 2021 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. Link to comment Share on other sites More sharing options...
fdsa Posted June 21, 2021 Share Posted June 21, 2021 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 ???? Link to comment Share on other sites More sharing options...
GrandPapillon Posted June 21, 2021 Author Share Posted June 21, 2021 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 ???? Link to comment Share on other sites More sharing options...
Recommended Posts
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 accountSign in
Already have an account? Sign in here.
Sign In Now