Odaily Planet Daily News: An encryption analyst CM posted on the X platform stating that Binance’s USDe has again shown abnormal de-pegging, once dropping to around $0.92. Previously, the 1011 incident also involved USDe de-pegging, while on-chain prices never showed abnormality.
He said that USDe has relatively shallow order-book depth on CEX, and can also be used as collateral for opening contract positions, which is where the risk contagion from the 1011 incident began. After that, however, Binance has incorporated the actual redemption price of USDe into its price index rather than relying solely on order-book quotes, so in theory the 1011 scenario will not repeat.
He said that USDe has relatively shallow order-book depth on CEX, and can also be used as collateral for opening contract positions, which is where the risk contagion from the 1011 incident began. After that, however, Binance has incorporated the actual redemption price of USDe into its price index rather than relying solely on order-book quotes, so in theory the 1011 scenario will not repeat.