How Billionaire Mark Cuban Got Rugged In Iron Finance Crash

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Mark Cuban has been publicly bullish on Ethereum and DeFi. The billionaire has gone all-in on this sector. He believes dApps have great potential to build a new financial system. However, some protocols carry higher risk, sometimes that leads to a higher reward or a bigger loss, as Cuban himself just discovered.

The billionaire got into a protocol called Iron Finance (TITAN), an algorithmic stablecoin project. After a couple of days live, the protocol’s native token TITAN crashed to 0, as the team reported via their Twitter handle.

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Cuban wrote about TITAN in a blog post titled “The Brilliance of Yield Farming, Liquidity Providing, and Valuing Crypto Projects”, published on June 13, 2021. There in he claims to be the only liquidity provider for the trading pair DAI/TITAN on QuickSwap with an initial $75,000 investment.

Data from DappRadar indicates that Iron Finance has lost more than 60% of its users in the past week alone and, at the time of writing, the…

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