4 ms·
> As a result, SafeDollar’s price—which was supposed to always be equal to $1 since it’s a stablecoin—has plummeted to zero, according to the protocol’s own web
by runbathtime 5y ago
> As a result, SafeDollar’s price—which was supposed to always be equal to $1 since it’s a stablecoin—has plummeted to zero, according to the protocol’s own website.
Any defi project can all themselves a stablecoin. It is false advertising to say that you will maintain the peg to a dollar if you cannot meet that promise.
If you are just experimenting or trying to get something for nothing (synthetics- created out of thin air 'backing' your stablecoin), then don't make claims that it will be a dollar.
Also, selling unregistered securities is illegal. Operating a money exchange business is a crime without license.