Stéphane Ouellette on the Crypto Crash, and What Next
Macro Hive Conversations With Bilal Hafeez
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Algarythmic Stable Coin
An algarythmic stable coin, or tether, allows you to redeem it at a discount. But the way that this had been architected wasyou need a bank account. And unless you had a very small amount of market maker's an plagin directly, it's hard to imagine how you could link a bank account into a smart contract. The group settled on the idea that they were going to have this dynamic where you could buy us t i and then exchange it for a certain amount of luna,. which would be at par, and then you could sell the luna. It didn't take long to say there's no way to arbitrage this safely.
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