What was USDX backed by?

Question

Kava Official

Mark

What was USDX backed by?

#blockchain #cryptocurrency #english #kava

0

12.05.2022

5 ответов

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K3

there are many people who dont seem to understand how usdx works, then they panic sell thinking that it is like ust. meanwhile it is more profitable to wait to see how low peg goes before jumping into buying it. all collateral used to mint usdx is waiting for the right discount to get the usdx from the market. Including me.

0

12.05.2022

Mark Автор вопроса

K3
there are many people who dont seem to understand ...

This isnt that complicated. If it USDX lost its peg but more than a few percent then its clearly not durable enough in its current incarnation. All the excuses in the world dont matter cause its not stable when it needs it the most

0

12.05.2022

K3

those who buy it instead of minting should understand the risk involved. if somebody just skips doing research to understand the mechanics and buys into usdx to get a few tokens more instead of minting then I understand how current condition might become as a shock. otherwise it is just matter of making decision for how many % you want to target to get profit from current condition.

0

12.05.2022

Mark Автор вопроса

K3
those who buy it instead of minting should underst...

I understand what you mean about lower risk if you have minted it and i agree with you. However, i dont think its reasonable to assume that the average user will read all docs and understand the mechanics. You could take that arguement further and do some sketchy shit and say it was in the docs and the user should have read them. That type of thought process screams "please regulate me". The simplest solution would have been to allow for USDX to be used in farming but not allow for swaps

0

12.05.2022

K3 · Accepted Answer

K3

it is backed by all assets used to mint it. last time checked it was over 200million cryptos to backup 130million usdx. No need to worry unless the ratio goes down

0

12.05.2022

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What was USDX backed by?

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