USDR, a cryptocurrency backed by the combination of digital assets and real estate holdings, is issued by the Tangible protocol, a decentralized financial project aiming to tokenize real-world properties and other assets. The primary trading platform for USDR is the decentralized exchange Pearl (DEX), running on the Polygon network.
Despite experiencing a nearly 50% loss in value, the project’s developers remain committed to providing a “solution” to this issue, stating that it’s a temporary liquidity challenge that they intend to address. They explain, “This is a liquidity issue. Real estate and digital asset-backed USDR remains secure and will be used to support buybacks.”
Despite this setback for the project’s treasury, the official website of the application announced on October 12th at 02:57 that its assets are still valued higher than the entire market capitalization of the stablecoin.
A significant portion (14.74%) of USDR’s collateral assets consists of tangible tokens (TNGBL), a component of this currency’s native ecosystem. The research team claims that the remaining 85.26% is backed by real-world properties and an “insurance fund.”