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The author's main point is that since the token is collaterized by ether, the value of the coin depends on ETH rising in value. The token's creators attempt to
by isubkhankulov 9y ago
The author's main point is that since the token is collaterized by ether, the value of the coin depends on ETH rising in value.
The token's creators attempt to solve this by over collateralizing 50% which he considers foolish because it just adds leverage to the system so when losses occur, they are exaggerated.
- orthecreedence 9y agoSure, but they are planning on adding other assets as collateral. ETH is just the first version, the proof of concept. I think the author knows this, though, and chooses to dismiss the project anyway.