piqi

6 ms·

1. 31.▲
   by piqi 4y ago

   > Tether is supposedly... > Tether minting seems... > The story goes... This is all very hand-wavey. Never concrete statements. The minting happens at the portal (eg Binance). There's no sense for an exchange to mint a liabili
2. 32.▲
   by piqi 4y ago

   It's not necessarily up to the individual. It's the centralized exchange's decision to offer it. I could be wrong, but I think the exchange needs to work with a US-based bank to process USDC redemptions/withdrawals. I kn
3. 33.▲
   by piqi 4y ago

   Terra was an algorithmic stablecoin (ie not really a stablecoin). It can't be compared to Tether. There were fundamental flaws with how Terra worked. A reductive way to describe it is, Terra was backed by Luna. Luna's price was de
4. 34.▲
   by piqi 4y ago

   Tether is typically used on non-US centralized exchanges, where they don't have access to USDC. People could still use USDC on-chain. According to https://ultrasound.money/ , on the Ethereum network, there's $39.27
5. 35.▲
   by piqi 4y ago

   This is expected. Tether is pegged to $1, BTC is not. In short, higher crypto prices means more tether. Perpetual futures contracts are also a big part of the market. They are the most common derivatives on crypto assets. It isn't alwa