And to be fair, the 14% yield on Nexo is a promotion. It will be lowered in march (so, in 3 weeks only).
Old post but unless we see a governance proposal I am assuming it is going to stay the same.
The only thing to watch out for are the reserves which will probably run out in 2 weeks, last time this happened @stablekwon injected another $200m into the protocol.
so probably can be sustained.
They told me 20% in the email.
That’s what you will be voting on as per the last cancelled proposal
"For”: Use fixed speed vesting
“Against”: Use vesting with fixed unlock time (initial proposal)
“Abstain”: Reject both options in favor of a yet to be proposed mechanism
Correct, but I focus on the normal rate, which is 14%
To get 20% you need to accumulate several “bonuses” like holding a lot of Nexo tokens and getting the reward in Nexo tokens. I never do such since I want UST to be agnostic to the fluctuations. Lend only UST, earn only UST, you get 14%
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Sorry to be off-topic, but… not that off.
I looked at UST more carefully since I knew very little about it, and understood it was a pure algorithmic stablecoin. Not collateralized like VAI or hybrid, but simply algorithmic.
So far i’ve seen all algo stablecoins like bDollar or BasisCash fall to their doom, because the model were wrong: while it’s easy to force overpeg to go back to 1:1 by minting extra tokens, raising it up needs hard incencitives (which a platform usually has not) or blind faith from investors, which also rarely have.
By hard I mean real value assets, not platform tokens or more algo-dollars minted out of thin air.
Question: why would UST work better than BasisCash?
Ok it’s far bigger, has its own blockchain etc… but the model is the same.
I never heard about basis cash… however note that UST is stabilized by Luna tokens… if ust looses 1$ you can burn ust and get Luna at 1$/ust
if UST raises above 1$ you can burn luna and get UST at rate 1$… this arbitrage helps to keep the peg… also projects as white “whale whale protocol” are intended to protect the peg… i think Ust will success and will be top1 stablecoins since it works fine , terra blockchain is fast and cheap , good projects developing there , etc… we will see
For me, this is the weak point, as BasisCash worked the same, with BasisBond in the role of Luna (or bBond for bDollar).
You can burn ust to get Luna. But what if nobody wants Luna? If UST holders simply want their money back and confidence is lost so none want UST or Luna anymore?
This is what happened to Algo-dollars in early 2021. So after having understood this, I’ll stay on my VAI, which has a weak peg but at least is backed by something. The Terra/Luna ecosystem is self-referencing, self-backed to my eyes.
For fun, look at the zombie algo-pegged tokens of bDollar, all have lost 98-99% of their value.
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ok… you could be right… but dont forget that with the big May shortfall in venus , tokens staked here in venus are not safe … if everybody wants to withdraw it wont be possible for everybody
and if that happens vai wouldnt have any collateral so would cost 0
I think the eco system for UST is a lot bigger and it has more apps. Like Anchor and Mirror.
Terra is massive and we saw a massive test last week on the peg due to the fraud in frog nation
Collateralised stable coins might be better but look at what is backing DAI, mainly USDC which can be frozen at anytime.
From what I can tell the shortfall is in ETH and BTC, those that get out last in these coins would be screwed.
The main risk for UST in the near term is the depletion of the interest reserves, keeping the 20% yield going will create a bid for UST if this stops then we could see a death spiral due to redemptions.
Yes, pretty much like a Ponzi. I know it’s a generic name now, but here it looks really close in concept, with value created by hope of more value.
I admit the Mirror ecosystem is pretty big and the failed stablecoins like BDO had virtually none, only some short term hype.
Still, I’ll stay on VAI and hard-backed coins, but no UST. I don’t want to be part of it when it drops from 1 to 0.5 intraday like BDO. And if it never happens, well, no offense.
Pretty much the whole of crypto then lol.
Yeah you killed me, that’s true for Bitcoin for example, right.
Here I was talking about one lone (yet, big) platform printing dollars out of thin air. I’m not convinced enough to invest in, so I switch back to regular stables like USDC. And VAI, but I’ve already lots of VAI.
Collateralized, VAI cannot go that below 1 and will recover at some point (fee or chain of liquidations). UST can arithmetically go to zero (big sells and none want to buy UST nor Luna).
I would suggest doing some more digging, ETH is also being used as collateral only 16% but still not nothing.
A V2 model is coming for Anchor, they are going to add more assets, Sol and Atom have been confirmed.
Terra uses UST as a marketing engine.
Maybe Tether as well UST and USDT lol
Well you got some action on Binance.
Seems pretty confused
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I was writing “I wanted volume, so I got” and you posted just before. 
Obvious Iceberg orders. An insider about the fee?
Looks more like wash trading than anything else. 1m in volume yet the order book looks the same
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Good point, how can one buy 1M of VAI on such a tight market and make zero impact?
The Rugpull of eco-defi with 350K had an impact in the 5% or something.
No volume happened on Pancake swap etc, there was no big order at the 1.080 level on Binance.
7,125.8 & 7,853.5 do not look like random order sizes.
The question is what is the intention behind this strategy as the price hasn’t moved? That’s more than I can afford in trading fees!
Hi guys , do you have any new info about the VIP of stability fee? It is taking sooooo long and no official announcment yet