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RE: Another Stablecoin Bites The Dust?

in LeoFinance • 2 years ago

It's made up of 10% DEUS tokens and 90% of it is invested into other stablecoins. That's a pretty dangerous thing when you think about it.

Pretty stupid to be fair.
Whatever about trusting your own ideas to maintain a stable peg but if your backed by other dodgy stable coins assets then things are not looking good for your future.

Just saying stable coin doesn't make a con stable.
We say the same about HBD but at the same time it could drop to 50c in the wrong market conditions. We just trust that it wont happen and the other factors pegging it hold up.

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2 years ago in LeoFinance by
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         2 years ago 

        I agree you're pretty much putting your stablecoin to rely on what another is programmed to do. If too many of these so called stablecoins do that and the main one fails it's going to cause a massive domino effect.

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