?
We were not very scared at DUSD 1.15+, I’m going to try not to be scared for the other way.
Not about fear. Just about a question. It was said there would be buy backs to maintain above 0.95, so I’m asking if that is still going on or has been stopped.
If that is how the stablecoin would work, maybe it is not so decentralized.
I am not aware of that, but other users have mentioned it. I highly doubt it is legit tho. Where did you get this information from?
From Ju lian and U yzn they announced it on Twitter. That they would buy DUSD every time it dropped below a certain point. So was wanting to know if they where still doing this or if it was a one time thing before.
Good point. Can we prove they're making good on that bold claim?
Got it, I don’t have Twitter so I never see these 😂 They might be saying that because they believe it’s a little opportunity. But I don’t think they meant that they would buy it back enough to prop it up, that would make our stablecoin CUSD for Centralized USD. They also can’t do that all of the time, they probably don’t have that much money
Yes, DUSD is below 95¢ but I don’t think they meant to prop it up as I said [Actually, let me not get too far ahead of myself. Let me go and try to find the tweet, but if you can find it and post it that would help a lot]
Any idea where you can find that tweet? I’m scrolling back and still at 2 weeks
I think a smart thing would have been for them to delete a tweet like that by now haha. But yeah it’s not 95¢ it’s 85¢ so I can understand if people want to ask about it. And I understand they don’t have to, I just wanted to know if they still where as that information would be of interest for me.
Would of been around mid May probably, when we dropped to 91¢ before it went back up.
I believe it is in one of a discussion held by cake defi in tweeter space.. after the luna news.. julian did mentioned that..
I looked between 11/5 and 19/5 on tweets and didn’t find it…
In any case, I highly doubt that Julian and U-Zyn meant to prop it up.
They may have said it in the regard that you might say it, such as: “I’ll buy DUSD below 95¢! (so that when it goes up I can make 5¢)”
On the topic of centralization, we have 7 proposals being voted on to help reduce the DUSD discount:
Yes, I remember this now, but just something to note, that they are not doing it as a method to stabilise the system as a provided solution. Julian and U-Zyn are not privately propping up the entire defichain through personal means. They are just discussion what’s happening in the market, what’s happening in defichain, and what they are doing - based on public information and analysts - that could benefit them in terms of arbitraging or just making use of the DEX and being transparent about their actions so if other people want to follow, then can. Julian did the same thing in Jan, when he bought dBTC. Basically laid out his strategy on why he was doing it, how it may benefit him, and how it could also impact price/stability/confidence in the DEX.
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