Dydx USDC depeg [ IMPORTANT ] i will pay 100$ USDC for help

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1

Good day,
I don’t understand one thing about dydx.

Everything is shown in USD on dydx.
But is it real USD or is that USDC that have been converted to USD

I need this information urgently as I have to do my tax return soon.
I just don’t know if I can use the USD values ​​on dydx directly to calculate, or if I have to see the USD as USDC first and then have to change it to real USD

So:
What happens if the USDC falls from 1$ to 0.5$ ?

Example 1: ( dydx shows me USD / 1 USD = 2 USDC )
Portfolio Value = 1.000$ so this will be 2.000USDC
Position Size = 3.000$ so this will be 6.000USDC
Fee = 100$ so this will be 200USDC
Unrealized P&L = 6.000$ so this will be 12.000USDC
Realized P&L = 150$ so this will be 300USDC

Example 2: ( dydx shows me USDC as USD value / 1 USD = 1 USDC = 0,5 USD )
Portfolio Value = 1.000$ so this will be 1.000USDC ( 500$ )
Position Size = 3.000$ so this will be 3.000USDC ( 1.500$ )
Fee = 100$ so this will be 100USDC ( 50$ )
Unrealized P&L = 6.000$ so this will be 6.000USDC ( 3.000$ )
Realized P&L = 150$ so this will be 150USDC ( 75$ )

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2

In my experience it’s USD being shown (ie 1 usdc = 1 usd). If I don’t trade my portfolio value doesn’t fluctuate, that’s enough to tell you it’s not usdc. Please don’t offer to pay, that can lead to scams.

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3

For me it was like this:
In March when USDC fell 5%, my portfolio value was also 5% lower.

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4

1usd is same as 1usdc

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5

Let’s say 1USDC is worth 0.5USD.

I deposit 10,000USDC and my Portfolio Value shows me 5,000USD.
Now I open a Position with the 5,000USD and pay a Fee of 100USD.
After 6 months, Unrealized Profit is 10,000USD.
And now i close my Position.

Will my Portfolio Value be 9,900USD?
( Because the 10,000USD Profit is 10,000USDC and this is 5,000USD )

Or will my Portfolio Value be 14,900USD?
( Because the 10,000USD Profit is only the USD value from USDC )

Or will my Portfolio Value be 14,900USD?
( Because the 10,000USD Profit is real USD )

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6

I’ve never seen such a dead community like here.
21 hours for a simple Question…

Thanks for nothing.

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7

Most of the activity is in the discord, here its more for general governance. FWIW I found an article explaining that 1USDC=USD here, hope it helps:

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8

Nice question!

So as I get it, while the value in USDC may remain constant, the equivalent value in USD may fluctuate if there’s a USDC depeg from USD.
However, the fundamental mechanisms of dydx remain intact to ensure market stability.

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