What is the difference between dUSD vs UST?

Question

DeFiChain - International

TeslaBull

What is the difference between dUSD vs UST?

#blockchain #cryptocurrency #defichain #english

0

10.05.2022

17 ответов

3 просмотра

DcShel Shelton

Michael
The nature is not the same. In DeFiChain ecosystem...

But it seems they also allow users to mint LUNA with UST, UST is then burned to decrease supply, but also this inflates the supply of Luna driving down its price/value causing more selling pressure on Luna, thus lowering price further, causing more lowering of value of UST and on and on it goes. Death spiral situation. Defichain has no way to mint DFI now so that cannot happen. I can see some advantage to using futures to mint DFI for dUSD on a weekly more limited basis with a some range under to push it back up some, but we don't want to get where we can create even more devaluation of DFI even if our dUSD slips down a little due to people exiting the system in a panic. Over a few days it will likely recover . dUSD is oracle minted, but not pegged. It's easier but not necessary for our dUSD to stay at $1 since it's only an internal to Defichain coin. We do have dUSDT and dUSDC on-chain for those who want a pegged coin for stability reasons.

0

10.05.2022

Gilenzo

DcShel Shelton
But it seems they also allow users to mint LUNA w...

what is the difference between dUSDC ansd DUSD?

0

10.05.2022

Pho

Gilenzo
what is the difference between dUSDC ansd DUSD?

dUSD is a stablecoin on the defichain that can be created through Vaults. dUSDC is a wrapped token which is backed 1to1 with USDC which is backed 1to1 with USD

0

10.05.2022

Pho

the peg to real USDC or the peg to real USD :D

0

10.05.2022

Gilenzo

Pho
the peg to real USDC or the peg to real USD :D

yes, but in the defichain ecosystem what guarantees the fact that 1 dISDC is always worth 1 Usdc and therefore 1 $?

0

10.05.2022

Pho

Gilenzo
yes, but in the defichain ecosystem what guarantee...

we can only guarantee that 1dUSDC is 1USDC (https://blog.defichain.com/how-crypto-assets-are-guaranteed-on-defichain/), if 1USDC is also 1USD has to be guaranteed by the issuer of USDC (coinbase)

0

10.05.2022

Gilenzo

Pho
we can only guarantee that 1dUSDC is 1USDC (https:...

Ok thanks

0

10.05.2022

Peter | Venus2Close

Pho
we can only guarantee that 1dUSDC is 1USDC (https:...

If 1USDC is not 1USD, crypto gets rekt.

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10.05.2022

Pho

Peter | Venus2Close
If 1USDC is not 1USD, crypto gets rekt.

we have been living with USDT for years 😅

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10.05.2022

Peter | Venus2Close

Pho
we have been living with USDT for years 😅

Liek this: https://twitter.com/degenspartan/status/1523936256904024065?s=21&t=3DvJHz1qG-cHd6Al_kYseA Peeps changing their stables to fiat and exits.

0

10.05.2022

TeslaBull Автор вопроса

Pho
we can only guarantee that 1dUSDC is 1USDC (https:...

I just read this article stating that can send BTC into light wallet and it will get wrapped as dBTC. The real BTC will be send to one designated BTC address until u withdraw from light wallet into cake defi. Is this still applicable? I tot now we all have to swap BTC into DFI before withdraw to light wallet?

0

11.05.2022

Dave 💥🇦🇺

TeslaBull
I just read this article stating that can send BTC...

Yes you can send BTC from cake 🍰 Cake wraps it so you get dBTC that you can send on the DeFiChain network

0

11.05.2022

James

Dave 💥🇦🇺
Yes you can send BTC from cake 🍰 Cake wraps it so...

Yes sure you can 💯

0

11.05.2022

TeslaBull Автор вопроса

Dave 💥🇦🇺
Yes you can send BTC from cake 🍰 Cake wraps it so...

I need to select DFI network when i do so?

0

11.05.2022

James

Perfect

0

11.05.2022

TeslaBull Автор вопроса

TeslaBull
I just read this article stating that can send BTC...

Btw, who control the designated addresses and how do we ensure the quantity of BTC in the address equals to the quantity of dBTC in DEX? Will there be any chances anyone take away BTC from the designated address, leaving the quantity of real BTC less than dBTC?

0

11.05.2022

Michael · Accepted Answer

Michael

The nature is not the same. In DeFiChain ecosystem, DUSD the stablecoin is back up by your own collateral. For terra's UST, it's on algorithmic stablecoin, off its peg by the most ever as its backbone, the LUNA token, In other words, it depends on an internal algorithm that manages its supply and demand to maintain its peg.

0

10.05.2022

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