I discussed my views on algorithmic stable coins on with last month. Listen to what I had to say about coins like UST and the warnings I gave...
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The problem with these systems is they all rely on new money in which is fine if supported by revenue generation external to the protocol. Meta-fin does this by protocol owned assets AND commisionable3rd party actions
How big was your grin when you hit that "tweet" button on this "I told you so" post? 🙃
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its also unwise to successfully peg to the USD without using the USD.. This is what brings the 'they' after you. Our stable will be pegged to 1% of Solana, with a raft of utility that triggers, when under peg. What utility? property Bonds.. Alongside, a few other innovations
I use to ask myself the question: What would Keanu Reeves do? Now it's what would Vinny Lingham do. I should of listened...sitting in a dca bag of just that I can't really deploy...maybe that's a gift until the peg gets back.
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