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It looks like an algorithmic stablecoin pegged to the price of Bitcoin instead of USD like most others. Those are interesting because the economics are set up
by ChrisClark 6y ago
It looks like an algorithmic stablecoin pegged to the price of Bitcoin instead of USD like most others.
Those are interesting because the economics are set up to turn greed into a stable value. If the price of the token gets too high or too low, people can make money bringing it back to the peg.
- gruez 6y agoSo some sort of bitcoin ETF with authorized participants[1]? That still doesn't explain why you'd use it rather than holding bitcoin directly. [1] https://www.investopedia.com/terms/a/authorizedparticipant.asp https://www.investopedia.com/terms/a/authorizedparticipant.a...