Post by @stani • Hey
Remember all the FUD past months from other stablecoin teams about gho and its peg. Well things are moving towards right direction :)
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The fundamental problem with decentralized stables is they’re bootstrapped and used as exit liquidity by projects and founders, either in the form of additional LP spread on the collateral or pure sales into the market. Sometimes this can be malicious, other times it’s simply because there’s no real demand for this group of stables beyond a base of x. Everything greater than x is risk adjusted premium for the full spectrum of smart contract to exit liquidity to simple market demand. 98c isn’t FUD worthy imo. And I think projects expend too many resources trying to hold “peg” in a manner anything other than a loss leader product to attract deposits…
it is good
gho gho gho!!!