USDR Tangible Real USD token
Overview
USDR Tangible Real USD is a yield-bearing stablecoin issued by Tangible DAO, fully collateralized by tokenized real estate assets (Tangible NFTs) and other reserves. It is minted by depositing stablecoins into the protocol, which then acquires real estate holdings to back the USDR supply. The token experienced a significant depeg event in October 2023 due to liquidity issues when redemption demands exceeded liquid assets.
Within the DeFi Intel graph, USDR Tangible Real USD connects to 2 tracked entities, most strongly to Tangible, Tangible.
Relations
Top connections in the DeFi Intel knowledge graph (confidence-weighted, 2 of 2 total).
| Relation | Connected entity | Confidence |
|---|---|---|
issued_by | Tangible | 90% |
regulated_by | Tangible | 85% |
Frequently asked questions
What is USDR Tangible Real USD?
USDR is a stablecoin backed by tokenized real estate (Tangible NFTs) and designed to generate yield from rental income and property appreciation. It aims to provide on-chain exposure to real-world assets while maintaining a stable value.
How does USDR maintain its peg to the US dollar?
USDR is overcollateralized by real estate assets held as Tangible NFTs. The peg is supported by a redemption mechanism where users can burn USDR for underlying collateral, though the illiquid nature of real estate makes rapid redemptions difficult, as seen in the 2023 depeg.
What caused USDR's depeg in 2023?
In October 2023 the liquid DAI in USDR's treasury was fully redeemed, leaving mostly illiquid real estate collateral. With no DAI left for redemptions, panic selling drove USDR to about $0.51. Tangible then wound the token down through a redemption process paying out stablecoins, real-estate baskets and locked TNGBL.
What is USDR Tangible Real USD connected to?
In the DeFi Intel knowledge graph, USDR Tangible Real USD is linked to 2 other tracked entities, most strongly to Tangible, Tangible.
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