News for hackers. Stuff that matters.

A comment on Bitcoin’s reliance on stablecoins harks back to the Wild West of finance. Parent comment

Re:Bitcoin’s reliance on stablecoins harks back to the Wild ... by cdiddy2 on Saturday June 05, 2021 @09:13AM (#27404699)
The last section, "Dai from PSM-USDC-A", is also USDC in the peg stability module.
[ Parent | on HN ]
Re:Bitcoin’s reliance on stablecoins harks back to the Wild ... by letier on Saturday June 05, 2021 @04:37PM (#27408281)
Technically still not 60%, but thank you for pointing this out! I was not aware of this.

If i interpret this correctly, this could lead to a very high spike in interest for dai lenders on other collateral currencies, in case the usdc collateral goes bad.

[ Parent | on HN ]