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> If Tether is worth $1.02 then you can mint a new tether by depositing on Bitfinex and selling that Tether for a 2% premium. Sure, but what if Tether is at $0
by alasdair_ 6y ago
> If Tether is worth $1.02 then you can mint a new tether by depositing on Bitfinex and selling that Tether for a 2% premium.
Sure, but what if Tether is at $0.98 - how do you get dollars back?
- vmception 6y agoIf you have a bitfinex account you can redeem the tethers for dollars at a 1:1 rate still and this would burn the tether reducing the supply. Not all countries like US can get an account there or use fiat so I wouldnt know if the redemption mechanism is currently working or not