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It doesnt work. If you invest 1$, you will pay fees and gas for it. If you try to redeem you will pay fees and gas for another two coins. (Even if they are peg
by rsecora 4y ago
It doesnt work.
If you invest 1$, you will pay fees and gas for it. If you try to redeem you will pay fees and gas for another two coins. (Even if they are pegged)
If you redeem those tho coins you pay fees.
Furthermore USDC aren't $s (and are backed by a company that is loosing value) and deus aren't dollars.
Only the issuer and exchanges gain via fees and emissions.
Now conversion without fees or gas is 0.5 to 1.
- bogomipz 4y agoThanks for the break down. How is this "meant" to be attractive exactly then? What is the value proposition they are intending here? Why would someone ever buy something a stable coin that they could only ever redeem a maximum of 80% of what they paid for it?