value in the liquidation process? (I mean you mint usdx with bnb, liiquidation at $300, in this bnb=300 usdx or bnb=400 usdx?)
Yes, USDX is always fixed to $1in Kava's internal system (Mint and Auctions). To answer your question, it's bnb = $300.
I'm wondering why isdx is so below par...
When UST fell in value, arbitrage opportunites existed driving down the USDX price, this has since been removed but bad publicity around stablecoins in the wake of the Luna/UST collapse has made may user nervous combined by a lot of inaccurate information based on the wrong assumption that USDX is an algorithm based stablecoin rather than collateral backed
I'm not sure this is correct If the debt is in USDX and asset is say BTC, there is nothing that prevents a user bidding any amount they choose If BTC was worth $30,000 and USDX $0.50 and the debt was 20,000 USDX then if USDX was fixed at $1.00 in the auction process then bidders are choosing how little BTC they are willing to take for a bid of 20,000 USDX if you treated USDX at $1.00 then full market value would be 0.666 BTC ($20k) for 20k USDX, but if a user an buy USDX for $0.50 then it would only cost then $10k to buy $20k of BTC. There is no system limit to prevent another bidder out bidding them and saying I only want 0.6 BTC for 20,000 USDX and still make a profit
Обсуждают сегодня