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Synthetic stablecoins using economic games implemented in smart-contracts to achieve pegging are not magically 1:1 with the pegged asset (even a representative
by nathias 4y ago
Synthetic stablecoins using economic games implemented in smart-contracts to achieve pegging are not magically 1:1 with the pegged asset (even a representative currency would break this ratio sometimes), they are a set of mechanisms to bring the currency towards this goal ratio. The problem isn't that UST is below peg, the problem is if it can't return above or at peg, this is the point where most synthstables fail, where they fall into a negative loop and just slowly die. However there are at least some that have not failed this, but have not been tested at these scales. Either way UST turns, we will know more about how we can make stable coins.
Synthetic stablecoins are the most important technology of our time and a very large step for our species to organize ourselves.
- lilyball 4y ago> Synthetic stablecoins are the most important technology of our time and a very large step for our species to organize ourselves. What do you mean by this?
- nathias 4y agoI mean the industrial model of the State and the organization of labor it provides that is being deteriorated by globalization will change significantly. Things change when people get the same tools the corporations have been playing around with for decades. Bad future: State owned CBDCs with types for different 'kinds' of people creating a society even more neofeudal Good future: Decentralized DAPPs organizing workers with shared interests regardless of their location and social capital