TerraUSD crash led to vanished savings, shattered dreams

Re:TerraUSD crash led to vanished savings, shattered dreams by adrr on Tuesday June 21, 2022 @10:09PM (#31831307)

I always wondered if the USD based stablecoins just hold each other's coins in lieu of cash. It's like an infinite money glitch if it's circular.

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Re:TerraUSD crash led to vanished savings, shattered dreams by randomhodler84 on Wednesday June 22, 2022 @02:47AM (#31832770)

This is what is happening to an extent, however the reserve requirements do not allow undercollaterization so you can’t print more value than you put in. A large slice of DAI is USDC.

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Re:TerraUSD crash led to vanished savings, shattered dreams by Nick87633 on Wednesday June 22, 2022 @12:12AM (#31831945)

Or like governments issuing bonds in foreign denominations.

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