Why is the burnbot rate going down for dusd?

Question

DeFiChain - International

Markus Lanz

Why is the burnbot rate going down for dusd?

#blockchain #cryptocurrency #defichain #english

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31.01.2023

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DanieL BaptistA · Accepted Answer

Hi! The burn bot rate is not going down. It's actually accelerating. The small decrease in price was verified due to massive transactions from heavy users that swapped hundred thousands $ of dusd worth for DFI, causing DUSD to decrease slowly. This is actually good, since such users signal a DFI bullish outlook, while paying, since the peg was not yet achieved, the 30% stab fee, which translates into an additional massive burn of algo DUSD. The burn bot is still fully loaded and has now way less algo DUSD to burn, which in conjuction with the DFI pump, allows it to burn now about 13% more DUSD than before, according some tweets with data from Daniel Zirkel. This will allow a faster track for the peg, the previous value will be reached again fast if it wasn't already. The peg is in reach :)

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Why is the burnbot rate going down for dusd?

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