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Why couldn't you just sell tokens 1 for $1 and have their price pegged to USD? No PoW priming required. If stakers required rewards, you could just redeem 1 tok
by oh_sigh 3y ago
Why couldn't you just sell tokens 1 for $1 and have their price pegged to USD? No PoW priming required. If stakers required rewards, you could just redeem 1 token for 99c and use the excess for rewards.
- mindcandy 3y agoHow can anyone and everyone prove that the tokens were actually properly paid for? Prove there were no secret smokey-room collusion deals. Prove there were no unpaid tokens minted. Prove that international government/criminal organizations didn’t blackmail a few extra tokens into existence. You aren’t actually wrong. Tether operates the way you describe: Based on proof of Trust Me Bro :P You can build derivative products backed by Tether. But, that’s a shaky foundation on which to build a new world financial system. You’d have to hope to spin up products that earn enough trust on their own to detach their valuation from Tether before Tether collapses.