4 ms·
I don't think you understand how USDC's redempetion works. It's not a website accessible by anyone open for redemptions 24/7. Read on that first before discussi
by Jommi 4y ago
I don't think you understand how USDC's redempetion works. It's not a website accessible by anyone open for redemptions 24/7. Read on that first before discussing this topic please.
- lottin 4y agoAnd this matters why? Being an economist, I think I know how a currency peg works, but if you think I'm wrong feel free to explain it to me.
- Jommi 4y ago: D Being an economist does not mean you automatically know how Circle (a payments company based in the US) issues the ERC-20 token that is called "USDC", or how the redemptions for that work. You can read about it here: https://www.circle.com/en/usdc https://www.circle.com/en/usdc and here https://www.centre.io/usdc https://www.centre.io/usdc You can see centralized and decentralized exchanges with USDC liquidity here: https://www.coingecko.com/en/coins/usd-coin#markets https://www.coingecko.com/en/coins/usd-coin#markets
- lottin 4y agoThis is like suggesting that a mechanic should read some car's owner's manual in order to learn how internal combustion engines work. Look, don't try derail the conversation. Your claim is that in the event that the issuer of USDC would fail to redeem the tokens, you could still redeem them elsewhere. Explain how that would work.
- Jommi 4y agoOkay I think I see what you're saying better now - you're talking about the long term if such thing happens while I was purely thinking "in the moment". Sorry for the tone, internet discussion can sometimes spin off quite fast just because its a pseudonymous environment. Have a great day!