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What Is the Role of the Bitcoin Stabilization Fund?
Tracy: I found this move really weird, as either you're sort of fully backed stable coin r traditional reserves, or you're an algarythmic stable coin. The whole problem they were trying to solve was that they wanted to get away from the traditional financial system without having to build the reserves. So basically, when luna, or the terra eco system, first got started, there was some funds that were set aside for the company itself. And at the peak, they were burning maybe about seven million a day, a dollar's worth a day of their yield reserve. But essentially, if everyone is chasing for it at once, that starts to get depleted and strain your