Odaily Planet Daily News Tangible, a stablecoin protocol backed by real-world assets, said in a post on the X platform that it is still refining the workflow, with the goal of restoring the target collateral ratio (CR) of USDR to 100% and migrating customers from USDR to a fair alternative solution recognized by most users and the community. Previously, on October 12, in response to the USDR de-anchoring incident, Tangible issued an announcement on the X platform, and the follow-up action plan is: 1. The collateralization ratio of USDR is still 84% considering the value of $TNGBL and the insurance fund is zero, the protocol has withdrawn the liquidity (POL) owned by the protocol and burned USDR, and the protocol still holds about $2.4 million in stablecoins (DAI, USDC, USDT). 2. Launch of Baskets: The token will be launched soon and will play an important role in the exchange process, providing real estate asset backing. Users will be given the option to hold tokens, earn yields, or sell them. 3. USDR Exchange: Once the basket token is launched, users can exchange USDR and other assets.

On October 12, TangibleDAO announced an action plan for the USDR deanchoring problem. Recently, the rapid decline in market capitalization due to the large number of redemptions of liquid DAI in USDR treasury, coupled with the complex real estate liquidation process, has led to panic selling and de-anchoring in the market. TangibleDAO's action plan includes: 1. Support USDR with protocol-owned liquidity (POL) and insurance fund assets. Currently, USDR has a collateralization ratio of 84% and plans to continue to support redemptions through the protocol's own stablecoins (DAI, USDC, USDT). 2. Launch of Baskets, a pool of assets tokenized by real estate that will play a key role in the USDR redemption process. Users can choose to hold these real estate-backed tokens and collect proceeds through rebase, or sell them on Pearl. 3. Turn on the redemption feature and USDR will be fully convertible for stablecoins, Basket pool tokens, and locked TNGBL 3,3+ NFTs. TangibleDAO stressed that it will no longer include Real USD in the future, and promised that USDR will be deprecated once the aforementioned redemption process is completed.

According to data from the official website of Odaily Planet Daily, there are still 11.87 million DAI reserves in the USDR treasury of Tangible stablecoin in the early morning of the 11th; In the past 24 hours, users redeemed tens of millions of USDR and exchanged them for more liquid assets such as DAI and TNGBL for selling, resulting in the price of TNGBL falling to 3.3 USDT, and finally shrinking with some reserve assets, USDR once de-anchored to $0.5. At present, the circulation of USDR is 45.21 million, and the reserve is mainly composed of illiquid assets and illiquid assets, namely: real real estate (US$3,581, accounting for 61.2%), TNGBL (US$10.26 million, accounting for 17.5%), PEARL liquidity LP (US$8.49 million, accounting for 14.5%) and insurance funds (US$6.26 million, accounting for 10.7%). It is understood that USDR is a physical real estate-backed stablecoin issued by Tangible, anchored to the US dollar. Its white paper shows that USDR can be converted to DAI at any time at a 1:1 rate, and USDR will issue tokens by over-collateralizing real estate and distributing the proceeds to holders, thereby offsetting the depreciation of its pegged currency and enabling real estate tokenization.