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PiggyBank's LAB Hedge Fails, Cutting USDC Vault NAV by 15%

PiggyBank, a Solana-based DeFi yield protocol, has revealed that a basis-trading position in the LAB token went badly wrong, shaving an estimated 15% off the net asset value of its USDC vault. The protocol disclosed the...

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Older archive item. Useful for background and entity history, but not a fresh market-moving signal.

PiggyBank's LAB Hedge Fails, Cutting USDC Vault NAV by 15%
PiggyBank, a Solana-based DeFi yield protocol, has revealed that a basis-trading position in the LAB token went badly wrong, shaving an estimated 15% off the net asset value of its USDC vault. The protocol disclosed the loss on June 6 after closing the hedge because funding costs had made... Read the full story at The Defiant

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USD Coin is showing up inside the Stablecoins theme, so this story is worth tracking for follow-through rather than treating it as a one-off headline.

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