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  1. Home
  2. /Glossary
  3. /Depeg
Back to Glossary
defi

Depeg

When a stablecoin or pegged asset loses its target price.

Definition

When a stablecoin or pegged asset loses its target price. USDC briefly depegged in March 2023 when Silicon Valley Bank collapsed because Circle held reserves there. Terra's UST completely depegged in May 2022 and never recovered, wiping out billions. Even small depegs can cause panic and cascading liquidations.

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Related Terms

Peg

A fixed exchange rate between two assets.

Stablecoin

A cryptocurrency designed to maintain a stable value, usually pegged to the US dollar.

Algorithmic Stablecoin

A stablecoin that maintains its peg through algorithms and smart contracts rather than holding actual reserves.

1inch

A DEX aggregator that splits trades across multiple decentralized exchanges to find the best overall price.

Aave

One of the biggest lending and borrowing protocols in DeFi.

Across Protocol

A cross-chain bridge that uses an optimistic verification system and a network of relayers to move tokens between chains quickly.

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