So now kava platform lost like 10m aprx Am i right?

Question

Kava Official

Jaya Prakash

So now kava platform lost like 10m aprx Am i right?

#blockchain #cryptocurrency #english #kava

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14.05.2022

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CryptoDaz (Darren) · Accepted Answer

Not necessarily no, it depends on how much USDX was paid for the UST auctioned off and also if the UST went through the Kava Auction system or were sold via OTC in some way As an example I will make up some figures which might be a lonmg way from the real numbers Say we had 13m UST minted and 11m USDX borrowed and the prices when the UST was auctioned later were say $0.45 for UST and $0.60 for USDX Then buyer(s) would be bidding to purchase 13m x $0.45 = $5.85m So perhaps to make a profit they paid $5m (a 15% discount off market price) Now if they paid in USDX they would have had to provide 8.33m USDX If these figures were correct then 11m - 8.33m = 2.67m shortfall I assume these 8.33m USDX then get burned

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So now kava platform lost like 10m aprx Am i right?

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