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“ETH will be added over the next hours to ensure wETH is backed 1:1,” Are they just going to create 320M USD out of thin air?
by mathieubordere 5y ago
“ETH will be added over the next hours to ensure wETH is backed 1:1,”
Are they just going to create 320M USD out of thin air?
- tomcam 5y agoI can’t imagine a more important question to ask. That jumped right out of me too.
- pawelduda 5y agoETH cannot be minted "out of thin air" so I guess this will go from reserves?
- user-the-name 5y agoReserves of 320M just sitting there?
- pawelduda 5y agohttps://news.ycombinator.com/item?id=30196343 https://news.ycombinator.com/item?id=30196343
- angio 5y agoThey're going to buy 320M USD worth of ETH and use it to replenish the reserves. Solana has big VC backing it so it shouldn't be an issue to find that money.
- baobabKoodaa 5y agoThat's 320M USD. It might be an issue.