[Reserve Protocol] First RSR Re-collateralization Auction
Mar 21, 2023
Virtual Event
Collected by:
Minted over 2 years agoon
Gnosis
March 22nd, 2023 12:21 PM
On Friday March 10, 2023, Circle's stablecoin USDC depegged on news that it had a portion of its reserves deposited in the failed Silicon Valley Bank. Reserve's first RToken, eUSD, which was backed partially by USDC thus experienced its first collateral default. This POAP commemorates the noble RSR stakers whose valiant efforts helped re-collateralize eUSD in defence of its peg.
reserve.orgThis POAP was minted on Gnosis.
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