As the market continues to mourn over losses on the Terra (LUNA) UST and LUNA debacle, DEI, a stablecoin used as a collateral mechanism for third-party instruments built on the Fantom (FTM)-based decentralized finance (DeFi) protocol DEUS Finance (DEUS), has failed to maintain its dollar peg, falling below $0.60 cents on Monday.
As the price of DEI hit an all-time low of $0.52, its market capitalization also followed, dropping from almost $100 million to around $52 million. However, despite the depegging of its stablecoin, DEUS Finance’s governance token, DEUS, went up from $163.40 to $327.28, before falling to $255.36.