DeFiChain

Due to an error with the @CoinMarketCap API, all DeFiChain Vaults have automatically been halted for now, ensuring the safety of your loans.

@julianhosp: Thanks everyone for participating here for almost 2 hours, looking forward to further discussions in the next days, and the next Twitter Spaces on Thursday. Poke holes in every idea, and then let's decide on Thursday.

@julianhosp: In 2-3 days after everyone has thought about the solution and no big issues with it come up, we can do another Twitter Space and decide to do an emergency DFIP, and all masternodes can approve/reject. If it's a no, it won't be implemented, if it's a yes, it will.

@julianhosp: It seems that most people feel comfortable with the following dUSD arbitrage solution: - be able to pay the dUSD loan back with DFI and - be able to use dUSD as collateral at $0.99 value poke holes into this idea: why would it not work?

@lordmarkcrypto: Totally agree - we should not overthink it, give it a couple of days to think about it, but we need to move fast, problems in the future can also be tackled in the future, and for now we then have a working decentralized assets feature.

@julianhosp: I would vote for that as well, it is a low-risk solution for now.

@maurice_jerome_: What I currently like the best is the pay back dUSD loan with DFI idea. It is the fastest and allows for more time to then think about long term solutions.

Developer @prasannavl: to zoom out a bit, implementing itself takes time, even just for testing. So if we have a good solution, I would decide asap, else we really lose a lot of time. Please keep that in mind as you all decide on how to move forward.

@julianhosp: Options to go forward: 1) Another Twitter Spaces later this week to discuss how to go forward 2) Immediate decision by the community, call for emergency DFIP 3) Wait until January, February, no haste Voice your sentiment - opinions?

@julianhosp: So one part to make sure dTokens are not treated as securities, is having the arbitrage issue solved on the blockchain, instead of externally.

@julianhosp: I love your feedback. From a business perspective, in my opinion this should definitely be solved asap. From a legal perspective, there are 3 points that endanger dTokens to be treated as a security: - centralized issuance - backed by a security - price tracking

@gor_amin: When it comes to voting, I would like if it would be split up in: a quick fix, and a long term solution. Secondly, should arbitrage be a feature of DeFiChain? Personally, I would like to have it more externally.

@benra88 from @defichainac: from a marketing perspective, currently the feature is hard to "sell" and do marketing for, because the premiums are just too high. So I agree that we should have an "emergency" DFIP, to solve this issue asap.

@julianhosp: I don't want to leave this Twitter Space just with idea sharing, so please: Discuss every idea, every argument you might have on the channels, on Telegram, Reddit, etc. At some point, we need to decide: do we call for an emergency DFIP or not, for how long, etc.

@julianhosp: additionally, if you allow putting dUSD into the vaults at 99 cents, I don't see a probability of dUSD being below 99 cents or higher than 1.01 USD. Could be interesting.

@BalthasarBecker: At this point, you can buy dUSD at a discount with your DFI, and do arbitrage the other way around.

@julianhosp: the funding rate also wouldn't solve it, because it is only on the loan. A solution to that problem would be, a premium to pay back the loan that is independent, which I mentioned previously.

@Santiago__Sa: I see the same issue - what would the disadvantages of a negative funding rate be, except of the longer time it takes?

@maurice_jerome_: Idea number 5 is great, because it will solve the premium immediately. The problem is, if dUSD would be traded at a discount. It wouldn't solve the problem if dUSD were traded at a discount instead of a premium.