Ripio, a crypto platform in Argentina, has acknowledged an error tied to wARS token conversions inside its app. The admission came from the company’s chief executive officer after users complained that the in-app conversion rate was about 0.95 Argentine pesos per token, below the expected 1:1 peg level. Later, some users said the conversion rate had returned to parity.
wARS is a wrapped token pegged to the Argentine peso. The dispute centered on pricing deviations in Ripio’s internal conversion process rather than the token’s stated peg itself. Based on the information provided, the issue was limited to the exchange rate shown within the platform, and no additional details were disclosed about the cause of the error or how long the pricing discrepancy lasted.
ChainCatcher reported that the chief executive officer of Argentine crypto platform Ripio publicly acknowledged an error in the platform’s wARS token conversion process.
Users had earlier complained that the in-app conversion price was about 0.95 Argentine pesos per token, below the 1:1 parity level. Some users later said the conversion rate had returned to parity.
wARS is a wrapped token pegged to the Argentine peso. The dispute focused on a pricing deviation in the platform’s internal conversion mechanism.
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