RAAC responds to pmUSD redemption dispute, stating collateral assets are intact and funds will be injected to restore liquidity

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Wu Shuo learned that the RWA tokenization protocol RAAC responded to recent questions surrounding pmUSD, stating that some opinions suggest pmUSD redemption corresponds to legal rights to mineral resources rather than US dollars or physical gold, which has triggered market panic and caused short-term imbalance in the Curve pool and price deviations, but does not affect the collateral assets and the protocol’s ability to pay. The current collateral remains intact, the protocol maintains solvency, and liquidity will be restored through capital injection. RAAC stated that the collateral assets for pmUSD are legal rights (perfected title) to mineral resources, not physical gold, and in case of default, recovery can be achieved through the disposal of these rights; the related assets are provided by the publicly listed company I-ON Digital.

Curve founder Michael Egorov said that RWA assets generally face issues where on-chain data poorly reflects off-chain conditions, with structural limitations in information transparency, and mentioned that risk assessment agency LlamaRisk may provide relevant analysis in the future. The situation is still developing.

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