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Joe Kid @0xjoekid on x 3752 followers
Created: 2025-07-08 11:16:25 UTC
What the heck is $USDf?
USDf is the synthetic stablecoin developed by @FalconStable and funded by @DWFLabs. It's a yield-bearing stablecoin (YBS) with impressive adoption and high APY.
But the deeper you look, the more questions arise.
The token can be minted using low-cap altcoins like $DOLO, including one with a market cap far smaller than the allowed mint limit. The list of reserves isn’t fully transparent.
Falcon’s strategies rely on off-chain custody, centralized exchanges, and mechanisms that resemble option bets. Some of these flows are hard to track.
After LlamaRisk’s report, $USDf lost its peg and still hasn’t recovered to a 1:1 ratio against USD.
DWF Labs has been involved in several controversial projects before. You can read more about that in the thread by @gmnay_ 👇
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Related Topics market cap dolo mint altcoins token adoption usdf $usdf