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So... it appears no matter the current price of UST,

Nexo appears to just treat it as $1.

Is this correct? I mean... it sucks that I got no arbitrage out of this... but at least I didn't lose too much either. But it still sucks.

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No, what do you mean?

PaulyD- Автор вопроса

So, when I sold some BTC this morning for UST to capitalise on the low price of UST while it was rising, I anticipated I'd make 4 or 5% more when I sold back the UST to get BTC (seeing as BTC didn't move much today). However, when I look at the price of BTC at the time (about 31k) my transaction purchased at 33k - as though UST was $1.

PaulyD
So, when I sold some BTC this morning for UST to c...

BTC v UST higher price the BTC v other stable coins reflecting UST being sub $1

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