/biz/ - Business & Finance

>>49403001
>RAI
Useless 2020 shitcoin scam. Kill yourself shill

FLX is not needed
RAI may be a food stablecoin, but FLX has no intrinsic value. Governance is a meme

>>49403010
>2020

Wasn't released until 2021 anon.

>Useless
Probably the only other stablecoin besides DAI and USDC that has the right to exist.

>>49403001
Good thread.
>>49403023
What about BUSD? Paxos seems more trustworthy than Centre in my opinion.

>>49403022
It does though. Cash flows are delivered to holders. If RAI takes off, which it should, FLX holders will be making bank.

There is a fee people pay who are borrowing RAI against their ETH. That 2% a year fee goes to the protocol. The protocol then auctions off the earned RAI in exchange for FLX. The FLX recieved by the protocol is half burned and half of the FLX gets distributed to stakers. FLX has been getting burnt at a high rate since the price is low, this is beneficial in the future since it means less FLX will be circulating.

In addition to all of this, you can currently get paid around 75% APR for single sided FLX staking, in non inflationary rewards. Basically anytime a fork of RAI launches, they will give FLX holders some piece of the pie.

>>49403001
Just don't like (un)governance token in general. Like RAI and think it's necessary when DAI is doing its woke diversification and USDC/USDT being cracked down. Hold a small 30 stack staking on h2o but don't feel like committing too much into FLX

>>49403033
I think BUSD is basically Paxos, which if I remember correctly, is basically like Circle's USDC, but more cash on hand. Circle has a lot of cash, but it is mainly in short term treasury bills. This is ok, as the are short term, but it is in theory possible for them to be temporarily insolvent if everyone tried to withdraw in like less than 3 months.

Both of them have a similar risk profile probably.

RAI is the best tho cause its ETH only

>>49403097
IMO ungovernance will be the future. Seems like more and more crypto thought leaders think governance was a mistake and it should be minimized.

The FLX token accrues value through RAI. More RAI adoption = more revenue for the protocol = more money to stakers.

>FLX
Centralized scam

Unironically slide this thread retard

>>49403023
>please save my dumped bags I promise experimental stablecoins and muh ungovernance matter in a market where DeFi is losing relevance because it's not the meme buzzword of the year
>please save my dumped bags please please normies please care about decentralization when better and more convenient solutions like USDC and BUSD exist please buy my bags bros

kill yourself

RAI and FLX are good steps in the right direction.

The entire point of crypto was to replace the fiat currency system due to its inherent centralization. Instead of a centralized entity saying "let there be money", we have an open and distributed network of peers saying "let there be money" - in such a way that no individual can own or control the entire system.

And yet, I keep seeing centralized kike projects owned and controlled by private for-profit companies that promise the moon to any sucker willing to throw money at them, claiming that their totally groundbreaking, absolutely unbreakable, 100% guaranteed trustworthy solution will solve all the problems that all the other projects before them failed to solve.

>Oy what's that, you've found that the system has problems? If things aren't running 100% smoothly you might lose all your money? Don't worry! That's just growing pains! The perfect solution is coming soon! <JEW> company will always be around to fix any issues, and you'll get all the profits you deserve just by sitting there doing nothing! Look! Other goys are giving us their money and number is going up again! That must mean that everything is fine!

Here's a quick litmus test to determine if a crypto project is worth anything: is it owned or controlled by a centralized company? Does its network rely on a small group of nodes that only a select few can run? If that company and/or group went bust tomorrow, would it still keep working, or even existing?
If the answer to any one of those questions was no, then that project is absolutely worthless.

Stablecoins, in that regard, are one of the worst offenders, and the furthest things from the original goals of freedom and decentralization. They are just another financial product, sold by yet another for-profit company that's aiming to earn a profit off of (you).

Cryptocurrencies - REAL cryptocurrencies - are supposed to create a new form of sound money: backed by the will of the people who use it.

>>49403001
I don't care what that faggot Vitalik says, his unsustainable crypto will be dead in 2 years.

>>49403214
DeFi is the entire point of crypto. Unironically always has been, always will be. The metaverse scams and such will all die off.

>>49403253
Based. Too many things this past cycle were just scams doing bullshit to rope in normie money. There are only a handful of projects in this space that I think have any merit at all whatsoever. The rest is pure vaporware.

>>49403214
oh no no no RAI bros

>>49403403
The only thing dying off is the FLX chart who has been continually dumping since its ATH of $900, faggot. You've been going at it for a few months repeating the same irrelevant drivel:

https://archived.moe/biz/thread/45981857/
https://archived.moe/biz/thread/46037752/
https://archived.moe/biz/thread/46139550/ (144mil FDV at the time of this thread, now barely 55mil and decreasing)
https://archived.moe/biz/thread/46686778/

And two threads you made two days apart from each other without even trying to bother:

https://archived.moe/biz/thread/48718732/
https://archived.moe/biz/thread/48803854/

DeFi is only a fancy term to describe shitcoin gambling and ponzi schemes. It was fun two years ago during the summer and it helped make me money thanks to shitcoins and experimental farms (elaborate ponzis) but in the end, it's completely useless. The narrative has shifted away from DeFi, all of the whales and lobbies pushing for dumped their bags and exited. A few victims got caught in the bloodbath, midwits like you trying desperately to make /biz/ buy your bags and it failed. Two months from now when FLX is at $5 maybe you'll finally capitulate nigger

>>49403438
Filter, sage and ignore all RAI/FLX threads

>>49403624
This. Also someone who worked on the project is racist.

>>49403900
based and redpilled.
also nice digits

>>49403010
>>49403022
>>49403129
>>49403214
>>49403438
>>49403624
>>49403900
>>49403934
your paid FUD won't bring the price below $40

>>49403624
Kek, price bad, but project good. FLX/RAI is one of the few projects that is actually buildin something different. RAI should be the same MC as DAI if not more, but too many brainlet couldn't appreciate the beauty of simplicity and don't understand why my stable coin is not muh 1USD. Reflexer's only flaw is probably that they overestimated the IQ if the entire market.

>>49403253
Are you a bot? I've seen this pasta in every stablecoin thread