4 ms·
An unusual property of this mechanism of creating a stablecoin is that the bank no longer holds the funds that back the stablecoin. There's no possibility of th
by _jsmh 1y ago
An unusual property of this mechanism of creating a stablecoin is that the bank no longer holds the funds that back the stablecoin. There's no possibility of the bank locking up the funds of a company that issued a stablecoin.
It's the burn and mint used in Luna Classic, now in physical form.
- grafmax 1y agoI understand the conversion from dollars to coin. What about coin to dollars? There’s a floor but no ceiling, so I don’t see how this is a real peg.