1) FTT has more liquidity than half that list (check coingecko.com/en/coins/ftx-t vs the others)
2) FTT is one of only 3 coins on that list whose highest "volume" market isn't fake. it's still lower volume/mkt-cap than average but not as much as that implies
Conversation
Is it really difficult to keep it 'stable' when the MMs stabilizing the price are run by you, you have deep pockets, and a vested interest in keeping that price stable, and also happen to control basically the entire float?
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This is the entire issue I have with FTT being accepted as collateral. I dgaf if you short YFI or UNI or LINK if you use real money to do so.
I do have an issue that you convinced your buddy Jeff to list your monopoly money so you can take out massive loans.
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EXACTLY. If you actually have the courage of your convictions then cover your FTT backed shorts and back them w ETH. After all, your initial defense was hedging a down market. Collateralizing shorts w your own funny money takes zero courage (balls).
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I think you probably haven't thought through that statement very well.
What would be the implications of FTT going down a lot?
It'd be really bad for us.
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U whale and to be clear I respect that. In the interest of respect let’s agree not to lie or bs each other. Tell me in one tweet how FTT matters to my CREAM, MTA, CRV, or any other bag. Y is ur ability to short everything using collateral you created from thin air good for me?
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if you're not using CREAM then it doesn't matter for you
if you *are* using CREAM then it's presumably to get interest for lending things out (which only happens if we or someone else borrows), or to borrow assets (this lets you borrow FTT)
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It’s late and I’m old, but I ask again how is your ability to short $75M using collateral you solely control (CREATED) “good for me” or anyone that isn’t invested w you? Let’s agree you’re good @ what u do, tell me how u shorting my bag w ur magic FTT money somehow helps me.
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shorting on CREAM requires paying interest to the lenders, so they make money from it, which presumably makes them happy or else they wouldn't be lending on CREAM
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Or if they're lending to borrow, then its' symmetric--each person's loan is the price they pay for getting to borrow, and wouldn't work if no one could borrow it
Your stance is “they’re lending” and it is 100% valid, be honest tho, no one expects to lend to a whale that crates his own liquidity. Ur explanation is nice, but circular, you’ve yet to defend shorting normie bags. Tell me how your shorts “help” me or anyone. (read normies)