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<p>The <strong>cryptocurrency </strong>depreciated in less than a day. Probably what happened is related to the flaws in the project <strong>token omics</strong>.</p>



<p>Billionaire <strong>Mark Cuban</strong> suffered a loss due to the collapse of the <strong>Titan token</strong> from $ 60 to $ 0 in less than a day.</p>



<p> The owner of the <strong>Dallas Mavericks NBA basketball club</strong>, which was one of the <strong>altcoin </strong>liquidity providers, tweeted that he suffered along with the others.</p>


<blockquote class="twitter-tweet">
<p lang="en" dir="ltr">ok I need the story here</p>
<p>— Mânkey Râthschild (@MonkeyCharts) <a href="https://twitter.com/MonkeyCharts/status/1405305625517740033?ref_src=twsrc%5Etfw">June 16, 2021</a></p></blockquote>
<p> <script async="" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>



<p>“I suffered like the others. The craziest thing is that I came out deciding that they were increasing the amount of funds under management enough. And then bam, Cuban wrote. Until he explained in more detail what happened and his losses.</p>



<p><strong>Cuban </strong><a href="https://blogmaverick.com/2021/06/13/the-brilliance-of-yield-farming-liquidity-providing-and-valuing-crypto-projects/" target="_blank" rel="noreferrer noopener">wrote about the Titan token on ;his blog on June 13th</a>. The billionaire revealed that he is providing liquidity for the <strong>QuickSwap</strong> decentralized exchange.</p>



<p> <strong>Cuban </strong>warned that he could <strong>withdraw </strong>his funds at any time and noted the high risks of this way of earning.</p>



<p><strong>Titan </strong>is the <strong>token </strong>of the Iron Finance project. It was used to provide value for the <strong>IRON stablecoin</strong>. Users could deposit 25% in Titan and 75% in USDC to issue new <strong>IRONs</strong>.</p>



<p>Because of yesterday&#8217;s sharp pullback in the value of <strong>Titan </strong>from $ 65 to $ 60, <a href="https://www.coindesk.com/iron-finance-defi-titan-iron-price-drop" target="_blank" rel="noreferrer noopener">large players began to sell their coins, which had an additional impact on their price, Fred <strong>Shebesta</strong></a>, founder of Finder and investor of Iron Finance , explained to <strong>CoinDesk</strong>.</p>



<p>After the <strong>IRON </strong>rate untied from $ 1 (IRON is a <strong>stablecoin</strong>, its price should always be approximately equal to $ 1), the system mechanism began to additionally issue <strong>Titan tokens </strong>and withdraw liquidity in order to stabilize it. </p>



<p>Because of this, it became possible to conduct arbitrage, and users began to sell altcoins even more actively. This led to its depreciation. Now the project offers to return to users the remaining collateral in <strong>USDC stablecoins</strong>.</p>



<p><strong>Shebesta </strong>argues that the crash was not related to hacks or vulnerabilities. In his opinion, this happened due to the <strong>token omics</strong> of the project.</p>



<p></p>

Billionaire Mark Cuban loss on the collapse of the Titan to 0
