How can a stabale coin like USDN went to

Question

Waves Official 🌊

W Allan .

How can a stabale coin like USDN went to

$0.69 and now $0.86 I thought its 1:1 value of US dollar?

#cryptocurrency #de-fi #english #waves

0

06.04.2022

3 ответов

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[Waves Ducks] Nikita

Hey Walter! There was the massive FUD campaign going on around. Now, it is in the process of stabilizing, and I’m sure it will find the balance around 1:1 ratio eventually

0

06.04.2022

major_paranoia

It is backed by waves not dollar. You need to swap usdn to waves via a neutrino protocol. But the neutrino protocol was changed a couple of weeks ago so you can swap only the limited amount of crypto in one day. So it is hard to stabilise the ratio with swaps. There were a vote to increase these limits and this change passed. It should be easier for whales to arbitrage but it won't happen in one day.

0

06.04.2022

JFS · Accepted Answer

JFS

Because of FUD, some people panic and sell at a loss, but USDN is guaranteed by contract and by backing rate also to be worth 1USD, that is why this situation is great opportunity to make quick money via arbitrage

0

06.04.2022

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How can a stabale coin like USDN went to

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