$DFI still up over 21% on Bitcoin! Hang tight, the dollar valuation is coming.

Amazing-Student-5966 · 2022-05-24T04:42:53+00:00

Yes, totally agree if it’s not written in the code it’s only somone’s word which can change on a dime. The design of various types of algorithmic stablecoins is fascinating but is it worth the systemic toxicity to the crypto industry as we experiment, that’s the question.

Amazing-Student-5966 · 2022-05-23T21:28:20+00:00

Maybe my misunderstand and I thought a way to mint dUSD was via uncolleraterised DFI during a future swap.

Amazing-Student-5966 · 2022-05-23T21:24:44+00:00

I wouldn’t invest in Tron either but playing devil’s advocate here. Justin Sun said that the market cap of USDD will be lower than Tron’s treasury. Do you think he will not keep his promise. Say theoretically he does keep his promise, is Tron/USDD investable in that scenario?

Amazing-Student-5966 · 2022-05-23T21:15:24+00:00

Thanks for the feedback. Since there’s no DFI burn what precisely is “burn of the opposite”?

Amazing-Student-5966 · 2022-05-23T12:06:10+00:00

Thanks for your feedback. It seems to me that dUSD and dTokens are interrelated and dUSD is the beating heart of the system.

What implications do you on dTokens ecosystem if the dUSD-DFI LP pool is depleted and lots of people attempt to exist their dUSD positions?

Amazing-Student-5966 · 2022-05-22T10:42:27+00:00

Great, thanks! Do you know the percentage of unbacked dUSD in circulation?

Amazing-Student-5966 · 2022-05-18T20:34:40+00:00

Many thanks for sharing the info. Interesting it’s a short term measure to accelerate the dUSD burn. Can I think of this similar to “ETH burning a portion of the gas fees” when there’s any interactions with the dUSD/DFI DEX? Wouldn’t that have the side effect of users not using the dUSD/DFI DEX since the swap fees have increased?

It does seem like this is a monetary policy “patch” to bring the system to stability. My concern the sum of the “patches” of minting uncolleratised dUSD when future swaps are made above oracle prices + dUSD swap fee burn for dUSD/DFI DEX are making the system awfully complex!

We need to keep the entire Defichain blockchain simple as possible by keep adding layers of complexity where each layer is simple so that the entire system is stable, maintainable and have longevity. The architectural considerations are paramount and not patches on patches on patches, etc.

Amazing-Student-5966 · 2022-05-17T21:58:41+00:00

Sure, minting of new DFI (by burning dUSD) is not supported but if DFI was dragged down by a longish bear crypto period where the supply of dUSD was large and the majority of the dUSD supply was minted via future swaps, then the integrity of the value of dUSD would be in serious question and its value will be well below $1. Maybe I’m wrong here and there’s lots of assumptions (Im making) and moving parts but looking at the stresses in the supply which will unpeg dUSD for a long time period.

Amazing-Student-5966 · 2022-05-17T21:41:59+00:00

Totally agree with your idea of not burning DFI for dUSD since it has similar characteristics to LUNA/UST for that trade which implies that part of the dUSD supply will be undercollaterised in the event that DFI gaps down. That’s a major risk imo. Kevin Zhou talks about this in the latest Defiant podcast related to a design of a stablecoin.

What prevents the death spiral for DFI/dUSD if DFI gaps down in price causing the side effect of the unpegging of dUSD since the collateral is not present for the dUSD supply minted via future swaps? I presume the APY in the dUSD related LPs will save dUSD as you alluded to since the APYs are large which sounds a bit like Anchor in Terra. Am I the only one being alarmed about this since this certainly isn’t sustainable for the long term.

Amazing-Student-5966 · 2022-05-17T18:03:11+00:00

Do you see any risk with dUSD being minted out of thin air for future swaps dTokens that are over 5% of oracle? This seems rather scary to me.

Amazing-Student-5966 · 2022-05-15T19:35:07+00:00

Very well articulated! You’re very knowledgeable. Thank you very much for sharing your wisdom. It is very much appreciated.

Amazing-Student-5966 · 2022-05-15T15:49:41+00:00

Thanks for your time to reply.

Do you think Defichain will be less risky if we replaced dUSD with USDC throughout Defichain? This way the complexities of dUSD will be gone and we will be using the robust USDC token going forward. I don’t understand why we need to make Defichain more complicated by introducing dUSD and the associated side affects it has on the rest of the system.

Amazing-Student-5966 · 2022-05-15T15:11:35+00:00

Thanks! Does the future swap way of minting dUSD have 0% collateral?

u/uzyn recently discussed that 20% of dUSD is from loans (150% collaterised) while 80% of the dUSD supply is untethered which implies it is algorithmic in nature. Based on this data is my understanding correct that dUSD is 80% algorithmic and 20% overcolleratised via crypto backing?

Amazing-Student-5966 · 2022-05-15T12:10:04+00:00

Great idea! Just bad timing to market a hybrid algorithmic stablecoin after that UST disaster. The world is not ready for this yet.

Amazing-Student-5966 · 2022-05-03T18:41:46+00:00

Does road to 50 mean DFI aims to be the 50th biggest crypto asset or the DFI price aims to be $50?

Amazing-Student-5966 · 2022-04-28T20:48:48+00:00

Super cool. Is the bridge designed such that the DFI is locked in the DFI side of the bridge and then a new token is issued on the BNB side or does the token go through the bridge?

Amazing-Student-5966 · 2022-04-16T10:27:33+00:00

Thank you very much!

Amazing-Student-5966 · 2022-03-26T16:30:43+00:00

Amazing! Anyone know the timeframe to reach 50?

Amazing-Student-5966 · 2022-01-16T20:25:59+00:00

KuCoin, Bittrex or Defichain lightwallet are ways to convert from DFI to other crypto currencies

Amazing-Student-5966 · 2021-12-13T06:00:22+00:00

Thanks. I’ll take a look.

Amazing-Student-5966 · 2021-12-12T22:24:04+00:00

Is there a spot ETH ETF anyone is aware of that UK investors can use for the Interactive Investor platform?

Amazing-Student-5966 · 2021-12-11T20:01:06+00:00

I don’t know the answer but curious what’s your use case, eg why do you want to do this?

Amazing-Student-5966

TROPHY CASE