3 ms·
I don't know, but I'll sell you a synthetic asset that mimics epoxy brands, tracking their prices using an oracle[0]. Instead of buying, say, a tube of JB Weld,
by rspeele 5y ago
I don't know, but I'll sell you a synthetic asset that mimics epoxy brands, tracking their prices using an oracle[0]. Instead of buying, say, a tube of JB Weld, you can buy 2 $JBW[1] and take out an overcollateralized loan to get the cash to buy your 1 tube of actual epoxy. Because cryptos go up, your $JBW collateral will probably have doubled in value by the time you need to pay back the loan, making the purchase completely free. This technique can be used to end poverty worldwide.
[0] website
[1] $JBW tokens are not redeemable for epoxy. However, I pinky promise that every time you buy one, I buy a tube of actual epoxy and throw it in the garbage, creating value that your token represents.