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A comment on UST Stablecoin Loses Dollar Peg. Parent comment

Re:UST Stablecoin Loses Dollar Peg by giantg2 on Monday May 09, 2022 @10:27PM (#31322701)
How do you feel about StableGains, the ycombinator backed one?
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Re:UST Stablecoin Loses Dollar Peg by sicromoft on Monday May 09, 2022 @10:56PM (#31322904)
StableGains is just a thin layer on top of Anchor. See https://blog.stablegains.com/stablegains-earns-you-yield-by-...
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Re:UST Stablecoin Loses Dollar Peg by bb88 on Monday May 09, 2022 @11:22PM (#31323065)
I'm not OP, but the money has to come from somewhere, because people want dollars, not some $shitcoin which may drop 90% in value overnight.

A credit card typically maybe has 15-19% interest. So I'd be surprised if the average credit card gets 10% profit per year from interest payments minus defaults. But somehow you're going to get a guaranteed 15% rate from algorithms? Smart contracts?

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Re:UST Stablecoin Loses Dollar Peg by charcircuit on Tuesday May 10, 2022 @01:57AM (#31323938)
It's not a guaranteed 15%.
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