Recently, the deposit amount of FDUSD stablecoin in Binance‘s OMNI Launchpool has exceeded its stated circulating supply.
At first glance, the platform displayed a deposit amount of approximately $6.37 billion in FDUSD, generating interest because the market value of this stablecoin is typically around $3.9 billion.
Based on information from CoinGecko, the FDUSD stablecoin is produced on both the Ethereum and Binance Smart Chains. The current supplies for these two blockchains are $3.8 billion and $180 million respectively. Previously reported figures from Binance indicated a discrepancy of around $2.4 billion in the FDUSD stablecoin, sparking concerns about its backing and reliability, as well as raising questions regarding the fairness of the OMNI Launchpool’s operations.
Regarding the previous inconsistency, Binance explained that the earlier stated numbers were inaccurate as a result of a screen malfunction. They have now rectified the issue and accurately display $3.18 billion worth of FDUSD deposits in the Launchpool.
— Binance Customer Support (@BinanceHelpDesk) April 15, 2024
Based on recent reports, the value of the stablecoin dipped slightly to 98 cents before bouncing back and returning to its original price of $1. Last week, First Digital became the inaugural stablecoin on the new layer 1 blockchain, Sui.
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2024-04-15 23:29