Niner 🍡九儿🔶|Apr 08, 2026 11:04
I just saw someone say that USD1 has plummeted and they are afraid of copying CRV or something. I went to check what happened
The reason should be that the official has opened a pool, where depositing USD1 on Dolomite can earn WLFI official rewards (about 10% from WLFI tokens), basic lending interest, and oDOLO rewards. The total APR has now reached 35%, but this is not fixed, it is floating
Then some people speculate that this APR is abnormal in a bear market and are worried about replicating the CRV event
So let's talk about what a CRV event is again
In 2023, Curve was exploited by hackers for a re-entry vulnerability, repeatedly calling contracts to allow unlimited withdrawals, and then CRV plummeted. Many people were probably present at the time
What would happen if USD1 really copied the CRV event
1. The USD1 stored in the official pool may be drained and cannot be retrieved
2. USD1 unanchored: USD1 has BitGo custody and audit endorsement, so if it is really stolen, temporary unanchoring is still possible
3. APR reduction: If it is really stolen, WLFI will definitely fall, so APR cannot guarantee it
4. Chain liquidation
So what can we do if we're not worried about the USD1 replication CRV event
Only take Binance's USD1. If it really happens, that is, the WLFI price drops, APR decreases, USD1 briefly loses anchor, and there is a chance to return anchor, any DeFi is risky. If you are worried about the risk, you should monitor the utilization rate, borrower concentration, and official large-scale movements in real time. If there are problems, you should take timely action.
Share To
Timeline
HotFlash
APP
X
Telegram
CopyLink