Another stablecoin loses peg – DEI team working to restore the peg

Re:Another stablecoin loses peg – DEI team working to restor... by djbusby on Tuesday May 17, 2022 @09:21AM (#31410153)

What!? how is there a TOS on a coin? Maybe TOS on a gateway site?

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Re:Another stablecoin loses peg – DEI team working to restor... by FabHK on Tuesday May 17, 2022 @10:04AM (#31410837)

There are

1. purely algorithmic stable coins (on-chain), such as UST. Voodoo, if you ask me. Can be decentralised.

2. (over)collateralised stable coins (on-chain), such as DAI (not DEI, which is at issue here). Collateralised by other crypto, smart contracts, and what have you. Can still be decentralised.

3. collateralised stable coins (off-chain), such as USDC or (allegedly) USDT. Those are collateralised by good old USD (or treasuries or commercial paper). Those need a central authority that holds on to the USD (or whatever form the collateral takes). So, makes sense that they have TOS.

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Re:Another stablecoin loses peg – DEI team working to restor... by E4YomzYIN5YEBKe on Tuesday May 17, 2022 @09:58AM (#31410729)

A coin is code and the code for pretty much every stable coin allow the creator to prevent coins from being sent to/from blacklisted addresses.

Tether freezes $150 million in USDT https://cointelegraph.com/news/tether-freezes-150-million-in...

Circle Confirms Freezing $100K in USDC at Law Enforcement's Request https://www.coindesk.com/markets/2020/07/08/circle-confirms-...

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Re:Another stablecoin loses peg – DEI team working to restor... by aabhay on Tuesday May 17, 2022 @09:58AM (#31410736)

stable coins with redemption must be centralized at the point of fiat exchange.

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