USD.AI will increase the autoUSDai cap by $100 million to support USDai exchange rate stability

CoinFeed reported on October 7th that USD.AI, a stablecoin protocol providing credit for AI, announced that it would increase the autoUSDai cap by $100 million at 0:00 AM Beijing time on October 9th to support the orderly liquidation of USDT0 positions in the Euler Frontier USDai market. USD.AI stated that this cap increase was a targeted stabilization measure, not a routine cap increase. Demand for USDai has already pushed the exchange rate to $1.06.