Why Frax and Curve Are Inevitable w/DeFi Cheetah - Flywheel #40
Flywheel DeFi
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Is Ponzi a Ponzi?
I would say if you put Ponzi in a more general sense, USD is also a Ponzi. We now have freely print USD and then the US government keep issue bonds and churgeries without guaranteeing that those would be repaid. However, they need to issue new debt. So this is something that how the system works. But in so far as people believe it, it is here. I think the model could be different. That's why I think initially the only thing I thought quite crazy was the APR because sometimes as we have been device space for long enough, we will know that some APR doesn't make sense.
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