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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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49629946 No.49629946 [Reply] [Original]

Could tron be the next LUNA?

>> No.49629977
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49629977

Man shit very well could be. This is exactly why I'm switching to USDC on Polygon. Thank you Polygon for saving my ass. Can't trust any of these bitches, the house of cards is crumbling down oh god.

>> No.49630811

bump
Potentially huge profit margins from shorting trx if this is the case.

>> No.49630850

What the fuck is the point of tethered currencies? Just hold USD if you want aomething that maintains value against USD

>> No.49630887

If any degen wanted to take a risk they could take a big USDD loan, hope it crashes then repay when its like -50% in value.

>> No.49630892

>>49630850
easier to trade in and out of cryptocurrencies

>> No.49630916

I saw a tweet that showed that Justin Sun was converting a bunch of his coin into USDC from USDD. I will see if I can find the tweet with the proof.

>> No.49631033
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49631033

>>49630916
Big if true. Zero faith in his own stablecoin?

>> No.49631094

>>49631033

He tweeted that he's going to deploy $2 Bil to fight the shorters but so did Kwon and Kwon was also selling into Tether and other stables instead of trying to prop up his coin.

>> No.49631116

>>49631094
Kwon didn't do shit lol.

>> No.49631117
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49631117

>>49629946
Where can I short USDD?

>> No.49631130

From the whitepaper
>When USDD's price < 1 USD, users and arbitrageurs could swap 1 USDD to 1 USD
worth of TRX in the protocol.
>When USDD's price > 1 USD, users and arbitrageurs could swap 1 USD worth of TRX to
1 USDD in the protocol
So TRX/USDD is the exact same mechanism as Terra/Luna.

>> No.49631140

>>49631116

Well he claimed he was deploying funds while actually selling off his funds into other stables and running off with the money. Sun could be doing the same.

>> No.49631335

Isnt it destined to fail if you have to inject funds to defend a peg? Didnt soros teach us that that shit dont work in the 90s when he raped Sweden and England(?).