Blockaid Alert: MIM on Arbitrum temporarily de-pegged due to liquidity imbalance, 0.91-0.92. Another reminder that the word "stability" for on-chain stablecoins depends on the depth of the pool.

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Blockaid issued a community alert stating that the stablecoin Magic Internet Money (MIM) experienced a de-pegging event on the Arbitrum network, with prices in executable trade paths dropping to the $0.91 to $0.92 range. Blockaid indicated that this deviation was mainly caused by insufficient liquidity pool depth and liquidity imbalance on Arbitrum.
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