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Crypto needs decentralized stablecoins. Consider the options space: 1. Fiat stablecoins are not decentralized 2. Leverage based models don’t scale, and eventually just wrap USDC $UST ‘s grew because its sovereignty is the only sensible model to scale decentralized money ✨

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LifeDeFiAlpha

@LifeDeFiAlpha

Mar 22

Completely agree about the need of decentralized stable coins. The concern is behind the reason for UST's growth. Did it happen because of people's need of decentralized stable coins or Anchors juicy APY (given about 70% of UST is locked there)?

Do Kwon

@stablekwon

Replying to

@LifeDeFiAlpha

Funny story - when anchor launched people said 19% is too low to compete with 100% apr stable pools Yields will return.

11:16 PM · Mar 22, 2022Twitter for iPhone

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and

Love anchor!!

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and

Yeah this was comedy. “Why would anyone besides an idiot not be farming beaver coin on bnb for 10000% instead”

Rekt Pirate

@RoyalPirate33

Mar 22

Farming for beaver you say

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and

This was true 😂

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and

Strange how nobody talked about the 3 digit net apr to borrow money like this

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Can only happen in defi —meanwhile people are earning 0.01% in their Chase savings account The change to dynamic rate would be a great step towards sustainability and filtering out the yield chasers. Only true lunatics will stay and be rewarded!