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A comment on Tether Required Recapitalization in May 2022. Parent comment

Re:Tether Required Recapitalization in May 2022 by zionic on Friday May 20, 2022 @01:33PM (#31450390)
On the other hand DAI fluctuates between 0.999 and 1.001 all the time. Is it not "stable".

I am no fan of tether, but small fluctuations like this have always been normal for "stable coins".

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Re:Tether Required Recapitalization in May 2022 by rglullis on Friday May 20, 2022 @03:29PM (#31451553)
DAI has been designed to be soft-pegged. It is meant to fluctuate around the $1 mark, but it never guarantees any kind of parity.
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Re:Tether Required Recapitalization in May 2022 by retcon on Friday May 20, 2022 @02:52PM (#31451155)
This is why in regulated markets you can inspect the ticker: to provide a audit record for proof that nobody is funding themselves or the asset by arbitrage.
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Re:Tether Required Recapitalization in May 2022 by SilasX on Friday May 20, 2022 @01:58PM (#31450622)
That’s the point. Dai goes below and above $1. Tether has stuck below $1. That’s an important difference.

Longer comment: https://news.ycombinator.com/item?id=31449400

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Re:Tether Required Recapitalization in May 2022 by retcon on Friday May 20, 2022 @02:53PM (#31451181)
This might be fine in a open regulated market. See my above comment.
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