26) Anyway, we just voted to keep FTT as it is now.
We would be happy to vote for a reasonable alteration--a moderate decrease in collateral weight, or 20% cap on a single coin!
But the 'partial' option here is massively under-specified (as is the voting process for 3 options).
Conversation
I think the problem here is perception. You control a massive amount of a single coin. Enough the you can borrow all of the liquidity on cream and sell it all short. For people who finally “have a say” I think it’s natural to be against being controlled by whales.
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Basically this.
FTT is basically value created out of thin air and the fact that the creator of that scam value can use it as collateral to take out real loans is insanity.
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No but it's a bit curious that the oldest spot market on your exchange still doesn't have an instrument to do so.
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BRB Sam, creating vaporware erc20 where i control 99.9999% of the supply.
Gonna pump it in a couple trades to 500mil mcap.
What, wait? You don't want to short it? Weird.
Which one of these is not like the other.
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Okay , tell me why this isn’t wrong in one tweet. If it’s obvious you shouldn’t have to “explain” it.
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The 'real' demand for FTT is behind the scenes OTC through Alameda desks apparently. Just take his word for it.
Wen FTT-PERP?
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Okay again I’m a reasonable guy. Educate me in not a thread. Why is this guy that’s spitting basic facts wrong?
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twitter.com/SBF_Alameda/st
also -- I *do* think that decreasing collat a bit on FTT for CREAM is reasonable!
also he shouldn't need FTT-PERP to short. As discussed -- there's plenty to borrow in CREAM!
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