Quote from: Saint-loup on June 19, 2022, 09:50:14 PM

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iBTC is a token from the Synthetix protocol, what you've found shows people don't trust this protocol and this product especially. They are obviously trying to leave their funds from this asset, which causes this depegging, it could be the first signal of a crash like UST from Terra has encountered few weeks ago.

Quote

iBTC is an inverse synthetic Bitcoin token enabled by the Synthetix protocol. It inversely tracks the price of Bitcoin through price feeds supplied by Chainlink’s decentralized network of oracles. It can be traded without slippage for other assets native to the Synthetix protocol at Kwenta or Synthetix.Exchange.

https://coinmarketcap.com/fr/currencies/ibtc/

Yes I was thinking near that too, the DEXs couldn't maintain the pegging of 1 USDT/USDC = 1$ and that collapsed their logic & equations somehow
Yet, I'm not sure of this explaination, I will wait till the DeFi MOOC 2022 lectures start probably they will shade some light on that.
I learned about Synthetix and iBTC from the course
https://defi-learning.org/f21
lectures 7&9
All other courses I studied concentrated on Computer & Engineering areas (my field) this was the only one with financial details