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Most of the smart contract system has been based on the assumption that contract termination/violation is not possible. This effectively ignores counter party
by lumost 5y ago
Most of the smart contract system has been based on the assumption that contract termination/violation is not possible. This effectively ignores counter party risk.
If the luna coin collapses UST will start exponentially inflating the supply of luna. If UST users are trying to get out, then the price may go to zero. You can't correct the stable coin by printing coins with zero value.
- gruez 5y ago> Most of the smart contract system has been based on the assumption that contract termination/violation is not possible. This effectively ignores counter party risk. I mean, maintaining the peg is based on that assumption, but I doubt "price of luna going to zero" is a scenario that serious analysts skipped over. Therefore, the failure to account for that scenario is still on them.
- lumost 5y agofair, but then what is the smart contract really doing?