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Frax Finance Frax Finance
cryptocactus 🌵-

Anyone know where I can see how much Terra is

backed by and what it's backed by?

#cryptocurrency #english #frax
0

9 ответов

15 просмотров
Michael-

Assuming you are referring to UST; it's not backed by anything.

0
08.05.2022
cryptocactus 🌵- Автор вопроса
Michael
Assuming you are referring to UST; it's not backed...

Yes, UST. I thought the Luna Foundation Guard was buying BTC to back it?

0
08.05.2022
Herbdragon 🌿-
cryptocactus 🌵
Yes, UST. I thought the Luna Foundation Guard was ...

Its a backstop, not backed by it. Theres a difference

0
08.05.2022
ftv-TX
Michael
Assuming you are referring to UST; it's not backed...

It’s backed by $3 billion in BTC and an arb mechanism similar to Frax’s.

0
08.05.2022
cryptocactus 🌵- Автор вопроса
Herbdragon 🌿
Its a backstop, not backed by it. Theres a differe...

I see. I heard the backstop goes into play if UST goes to 0.98 right?

0
08.05.2022
cryptocactus 🌵- Автор вопроса
ftv TX
It’s backed by $3 billion in BTC and an arb mechan...

Interesting, do you know where can I see that? Is there something like a dashboard similar to FRAX's?

0
08.05.2022
Herbdragon 🌿-
cryptocactus 🌵
I see. I heard the backstop goes into play if UST ...

Yeah that is the idea. But the reserve isnt implemented yet so at this point its just a multisig wallet. Believe thats also why they choose to attack the peg this weekend just before 4pool incentives and the working redemption btc mechanism

0
08.05.2022
Herbdragon 🌿-
cryptocactus 🌵
Interesting, do you know where can I see that? Is ...

https://twitter.com/lfg_org/status/1512678523546345474?s=21&t=o2D55BogkumsCVuAzUjknQ

0
08.05.2022
Nafez-

If you don´t count LUNA, backing of UST is 9% in BTC and AVAX

0
09.05.2022

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