Https://Twitter.Com/Theblock__/Status/1496153322084093961?S=21

That's unfortunate. That makes it less transparent. It is almost like a fiatcoin but with off chain crypto reserves. I hope they will just do it onchain with some kinds of liquidity AMOs or things like that. Maybe we can help them build those out.

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22.02.2022

DS Автор вопроса

Sam Kazemian ¤⛓️¤
That's unfortunate. That makes it less transparent...

Agreed. I wonder if this is more of a reputational thing; look how far USDT has gone without being fully transparent. lol

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22.02.2022

Sam Kazemian ¤⛓️¤

DS
Agreed. I wonder if this is more of a reputational...

tbh it might just be a software thing. It is hard to design the AMO style contracts because it requires finding how the contract will hold the BTC/collateral. Does it load it as liquidity into some other DEX? does it have a redeem function? etc etc. All those design decisions require a lot of planning. It's hard to build those kinds of AMOs. Much easier to just hold the BTC in an EOA from the foundation wallet. But I think it could be interesting to talk to the Terra guys and see if we can help out. It's cool to see them adopt this stability mechanism.

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22.02.2022

DS Автор вопроса

Sam Kazemian ¤⛓️¤
tbh it might just be a software thing. It is hard ...

You've shown once again what a nice guy you are. And that makes sense regarding the complexity of doing this. My assumption would have been that they're just doing this to shore up against criticism and keep the wheels turning, but maybe you are correct. If that is the case though you think they could/would have outlined a path toward full transparency.

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22.02.2022

merx Leikar

Sam Kazemian ¤⛓️¤
That's unfortunate. That makes it less transparent...

thats why this is still a total joke as is UST, its just a newer version of USDT in effect being led by a bunch of shady jokers just like Bitfinex

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22.02.2022

Sam Kazemian ¤⛓️¤

DS
You've shown once again what a nice guy you are. A...

Sounds like they are calling their AMOs "AMRs." It is only 1 letter difference haha so let's see if the functionality of AMRs are as close to AMOs as it is the name. https://twitter.com/jumpcryptohq/status/1496184264530042885?s=21

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22.02.2022

DS Автор вопроса

Sam Kazemian ¤⛓️¤
Sounds like they are calling their AMOs "AMRs." It...

The AMR is just some backstop though, and it's very very fractional. Let's hope the market doesn't lump UST in with FRAX now, as these seem wildly different.

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22.02.2022

Seba TLDR

lots of details such as vesting time, price per luna, amount of btc available and bought price, wether it was a single payment, that only a blockchain can provide trustlessly

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22.02.2022

4 years locked. veMAXI (as a millionaire)

Seba TLDR
lots of details such as vesting time, price per lu...

do they list the wallet address for the $1b bitcoin ?

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22.02.2022