Stablecoin Real USD (USDR) has depegged, meaning it no longer has a one-to-one correspondence with the U.S. dollar.
USDR, which is backed by illiquid real estate holdings, dropped to nearly $0.51 after the treasury ran out of its supplies of DAI tokens meant to help secure the peg.
The Polygon-based stablecoin comes from Tangible DAO, which published data showing that the treasury was emptied out.
The only funds left in the treasury are a $6.2 million insurance fund. In comparison, USDR has a circulation of 45 million coins, which would amount to $45 million if there was a peg.
The treasury would also have the backing of native Tangible token, TNGBL, but that token is down 45% to $3.82 in the past 24 hours.
USDR currently sits at $0.611356, down nearly 39%, over the past 24 hours, according to CoinGecko data.