Reddit Posts
DeFi platform DEUS faces $6 Mln exploit, DEI depegs
DEI Stablecoin Hacked, BSC and Arbitrum Lose over $6.3M
Are regulated stablecoins the future of payments?
I recall a few weeks ago when DEI depeged, with large amounts deposited as collateral on Screamdotsh which had hardcoded 1$ value for all stables. Would you say AAVE is facing similar complications because of Harmony?
Un-harmonious misfortune and the Fate of AAVE
I recall a few weeks ago when DEI depeged, with large amounts deposited as collateral on Screamdotsh which had hardcoded 1$ value for all stables. Would you say AAVE is facing simmilar complications bcs of Harmony ?
USDT, BUSD, USDC - Which stablecoin do you prefer?
DEI, another stable coin, is trading at $0.60.
Algorithmic Stablecoins—Just the beginning?
Another stablecoin loses peg - DEI team working to restore the peg
Warning: Another stablecoin loses peg - DEI team working to restore the peg
Fantom Stablecoin DEI Becomes Latest to Lose Dollar Peg
Fantom Stablecoin DEI Becomes Latest to Lose Dollar Peg
Mentions
Indeed, sir. And all them Trans librarians are making the kids gay. DEI! CRT! BLM!
I thought gender was fluid? /s 🤔 You can be whatever you want. Is the author a biologist? Edit: CumRocketInYou coin just hired a DEI officer! 👮♂️ /jk
Right about what in particular? Advocating to increase awareness about bitcoin and how it works is equivalent to DEI or similar topics like affirmative action and racism? Or that I think people need my advocacy? Or this post is similar to a republican vs democrat debate? Let me know which one so I can clarify it for folks.
"Advocate" is an worn-out word that is overused by graduates of DEI programs in flake-left universities. Live your life and let bitcoin take care of itself. Nobody wants or needs your "advocacy."
For sure. No politician will run on austerity so we are heading for disaster. Even when they do imagine the fights over what gets cut. Do you get rid of DEI funding initiatives or boarder patrol. Do you stop the Earned Income Tax Credit or Social Security?
Fuck Vanguard. Regarded woke ESG / DEI stormtroopers
You'd have to have blinders on to not see what's going on. Media companies all side with democrats. Social media all side with democrats. Don't believe me? Look up how each major tech company donates on a company and individual employee level. They're mostly in the 90%+ range towards democrats, with some closer to 100%. I don't think Sam is a leftist, at least not to the degree he pretended, but he knew which side to donate to -- he even says in an interview that it's all a sham (DEI, green agenda, etc) but he played to get into good graces. It wouldn't make any sense for him to donate to republicans as he was only doing it to avoid scrutiny and making enemies. If he catered to republicans, he would invite the same level of lawsuits from the fed that Musk is facing.
Yes, they'll control it. They are using other people money to buy Bitcoin for themselves, while their investors get paper tokens that settle in fiat. They are the fiat banking cartel and they're not gonna net BTC roll over them. Its how they got control over all major companies, because their ETFs own these companies now, and now suddenly they are turning against people with censorship, hegemony, DEI. They own media companies and political supply chains too, All's these nerdy libertarian idealists have no concept of the power a weaponized mob and how they determine currency. If the banking cartel piles zombie money into it they'll determine it's worth. If they want to hostile fork BTC into a new version that gives them more control, nothing can stop them since they can use their zombie army of ETF holders to trade in the BTC and they won't care. They can also manage the value in fiat so it goes up and wrecks the old one.
Let’s face it, the US empire has passed its zenith, and like an aging hooker needs a face lift, tummy tuck and boob job to raise those sagging teats. Debt is rising rapidly to record heights while octogenarians debate tranny bathrooms and DEI. BTC is a safety valve for those who read history. Anchors aweigh my dudes.
People who know they only have a job because of DEI are bitter and downvoting facts. It sucks to be incompetent and knowing it.
Closer eye? I've seen closer look before, but do they have a DEI hire writing chyrons now?
Just like XRP holders I’ll never understand the race to supreme control. CBDC DID DEI they are all authoritarian control privacy stripping. But Joel Katz says it’s good so everyone rides his dick. I’ll never understand
What are you going on about? I called YOU a communist because you just told us all that you're pro high taxes, more regulations, big centralised government, DEI and affirmative action (which is basically equality of outcome where results are pre determined based on gender or race identity. The antithesis of meritocracy in other words). You should just move to Venezuela or North Korea and find out where your warped ideology actually leads in the long run.
Well, according to his website, he has no policies outside of cryptocurrency so I guess you got me on that. He does seem to say “fight Washington corruption”, whatever that means. Since he’s officially running as a Republican, I can assume he follows the Republican platform. So I disagree with him on taxes, federal and state government size, regulation of corporations, labor unions, gun rights, pornography, drug legalization, abortion, separation of church and state, laissez-faire economics, government austerity, government welfare spending, education, privatize healthcare, climate change and environmental regulation, affirmative action, DEI, capital punishment, immigration, LGBTQ support, etc. Should I go on?
Their power comes from controlling the proxy voting rights of the shares they manage. Fortunately, Bitcoin doesn't have a board of directors than can be voted out if they don't implement DEI policies.
In a non hierarchy based system how do you enforce your taxes to pay for a given individual's disability? Do you just rely on the good will of others? Hate to break it to you but libright would be the most decentralized you can get. Can't enforce DEI policies without someone to enforce quotas, as another example
They don’t buy apple shares to support DEI initiatives either. A lot of companies still don’t understand that most shareholders just want to make money.
>How many airline companies and airplane manufacturers are there? And how many of them are required to follow the FAA's DEI policy, which has nothing to do with safety? It has to do with safety and equality in the workplace, which affects the work force in the companies themselves as well as the clients who interact with those companies. That's why they are required to follow those policies.
How many airline companies and airplane manufacturers are there? And how many of them are required to follow the FAA's DEI policy, which has nothing to do with safety?
I guess you're ok with hundreds of thousands of illegals coming into our country. I guess you're ok with the Biden administration banning Christian families from adopting children because they're "unsafe" for gender dysphoric children. I guess you're ok with reverse racism thru DEI. Or having the entire world laughing at us because we have a senile old man for president that falls at every public speech he gives. I don't "love" Trump, but he's better than the alternative.
They are captured by DEI anti-white racist agenda over there. Identities and physical characteristics over merit.
Vanguard also heavily promotes all of the ESG and DEI woke bullsh&t as well...screw'em.
He is a mime and and a mute. DEI in action, you might say.
I understand for sure. My original response was probably unnecessary. I was on other subreddits at the time about DEI topics which reminded me how evil I was as a white male. It put me in a mood I suppose. My apologies.
The problem for me is that most companies suck. Such as reddit. Assholes have power and want to control and censor others. So we have to replace most companies to actually have freedom, which includes companies like Visa or MasterCard obviously. So far Elon's X has been much better for me than before. Much more free, and the most annoying people have self-isolated themselves away into their fediverse gooner caves. X is not perfect but I'm not going to hate it if he replaces more companies that suck. Like most domain registrars also suck. Please give me an option that won't censor me just because I don't like the current cancerous DEI agendas and think they are a net negative to everyone in the long run.
most bitcoiners don't care about a lambo. Only outward appearance of being wealthy is not having to report to HR for DEI calsses.
Tl;dr - guy whose job no longer exists if crypto succeeds claims crypto has no place in the monetary scene. Same reason you’ll never hear a DEI official claim that diversity has been achieved.
Is there anything politicians won't blame on climate change? I mean... "climate change" is the term now, but wasn't it "global warming" before? And didn't Gretta tell us that we'd be under water in 2023? I still have the tweet saved. I'm an environmentalist who cares about nature. I subscribe to The Nature Conservancy and I'm a member of the Cascadia Wildlands environmental group. I'm surprised ANYONE thinks that a banker, a corporation, or a government, give a shit about the environment ("climate"). It's a tool they use like the ESG, and the DEI, to "force behaviors" as Larry Fink stated. Stop conflating the economy with the environment and racial diversity. That's socialism, not free markets.
Even 2 minutes of quick research on their own website will show you that the WEF were talking up an ESG narrative (essentially a social credit score for corporation's) 4 years ago. Blackrock, Vanguard and State Street then spent the last few years pushing ESG at the board level at companys like Disney and Anheuser Busch through DEI. It's really not that difficult, and not everything sinister should be dismissed as a conspiracy theory. Seeking Return on ESG - weforum.org https://www3.weforum.org/docs/WEF_ESG_Report_digital_pages.pdf
Sure, but equality of opportunity is heavily skewed to begin with. How do you make opportunity equal? I think the thought is, you do it by forcing equity on a few generations (at the possible expense of meritocracy) until their children and grandchildren are brought to a level playing field socioeconomically, then remove the DEI constraints. It sucks for the best and brightest in those generations, but I don't see a simpler way.
It makes sense for it to work like that. ETF buyers bought a derivative, not part ownership of a company. I've voted before. Voting is usually about board members or selecting an outside auditor corp. It's a list of names all of whom are a recommended FOR vote anyhow. Sometimes it's about issuing more shares to raise money. I've never seen vote options for anything ESG or DEI. Maybe because I don't buy into woke companies.
Because its a predatory social credit score for corporations, which means they can't get funding from the likes of Blackrock unless they aggressively push DEI and climate nonsense 24/7. Why do you think the likes of Disney and Budlight seem to be pushing the suicide button over consumer opinion? Just look at who the major shareholders are on their boards.
Plenty of rich business people are lefties. Plenty of limousine liberals. Have you heard of California and New York? Many live there. Manhattan is full of rich businessmen and they vote 80+% left. He supported Hillary. He has been an ESG nut. Hes used his investors assets to bully companies into DEI efforts. You may not like it, but those are things lefties do. He's not an AOC lefty, but he's a lefty. Going back to congress "investigating" him, it's a political hit job. Plain and simple. It has nothing to do with crypto. And nothing will come of it. I'm defending the lefty for crying out loud.
Often yes. Just like companies that prioritize DEI over hiring the best people also perform poorly.
Research ESG, DEI and Bolshevik destruction and subsequent takeover of "western" civilization itself. This is what Blackrock does, aided by their lobbyists and subserviant, pole-smoking minions in "governments", using credit and liquidity as a weapon. How do you like your trillionaire Bolsheviks now, idiots? Anyone thinking Blackrock is good for Bitcoin long term is a bona fide reptilian fucking retard.
You mean the WEF and big banks? They don’t push ESG and DEI for the good of humanity or pursuit of liberty.
All we need to do is look at who is proposing and backing this initial bill. There are a few things going on: 1. They are manufacturing fear over something which isn't, and can't without Congressional approval, happen. The Fed has stated several times that any CBDC would need to originate with Congress creating that mandate. So this bill is 100% performative because that which is established by law can be removed or modified by another one. It is like proposing a bill that you cannot eat a live human baby on the Congressional floor. It hasn't, and won't, happen. 2. They are fear mongering to cultivate a new front of their culture war. Is it really any surprise that Republicans are behind this effort? Their entire platform is defined by what they are afraid of. They are playing the old political game of dividing and conquering. They've been trying it with crypto for a while now, and surely they are going to trot out their old reliable "$thing is the mark of the beast!" and slap it on this idea of CBDC (which only they can authorize in the US) soon. They need to make it a wedge issue, which is really weird because Democratic politicians generally aren't in favor of crypto to begin with. They are trying to create a line in order for contrarians to get on the opposite side like they do with everything from human rights to beer, fried chicken, and department stores. This is the part losing their collective SHIT over "tranny milk" and "tranny semen in Bud light" and Chik-fil-A having a DEI officer all of the sudden... from 2021. That last bit is exactly telling of what they are trying to do here; whip shit up that doesn't exist. They know they can point to something which hasn't been and isn't a problem and scare people with an imaginary hellscape because *their base are gullible.* 3. Their rich owners understand that a CBDC poses an existential threat to their parasitic lifestyles and wealth hoarding. A lot of their money can instantly disappear and become untraceable by implementing a network of nested shell companies tied together with self-originating loans that will never be paid back and thus interest and tax free. This isn't conspiracy; this is fact. This is how the rich store and keep wealth. This is why so many are, on paper, cash poor and asset rich. They use the best tricks their money can buy from politicians to hide their money, convert it into some other asset, then originate loans against their assets to get cash tax free. This is why so many of them will have residences in tax-free states or why basically every shell company is created in DE or an overseas tax haven. You don't have to pay a repatriation tax if you receive loans from an entity from overseas. Even if that entity is you. CBDC make it impossible to hide this chain of custody. So if the government, for example, ever falls out of the ultra rich's regulatory capture, it would be able to go after every single dollar they've been hiding and not paying taxes on. I'm not an advocate for CBDC. They aren't a reality and won't be in the US. The fact that so many people here think FedNow is a CBDC just shows how fucking stupid half this sub is and why you people constantly fall for scams and shit. Don't let Republicans fucking rug pull you because they scratch some weird ass itch you have. They are parasites, too.
tldr; DEI stablecoin issuer Deus DAO confirmed it receieed $1.07 million from an hacker who exploited its BSC Chain. DEI stablecoin issuer Deus DAO confirmed it receieed $1.07 million from an hacker who exploited its BSC Chain. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
tldr; DeUS Finance has lost over $6 million due to a security breach on its stablecoin DEI. The hacker exploited a vulnerability in the BNB Smart Chain (BSC) on May 5. A bot initiated the hack, which led to a loss of more than $1.3 million. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
"Deus DAO's DEI stablecoin was exploited for more than $6 million on May 6. One of the exploiters has returned $1.07 million." DAO offer is 20% bounty for returned funds as "white hat" program.
Never heard of DEI either. DAI yes but not DEI
Hackers gonna hack. Am I the only one who's never heard of DEI? Jeez, where does all that money come from, I wouldn't touch this with a stick
They probably want coinbase to push ESG DEI stuff and coinbase just wants to be moderate. So they are harassing them.
Coinbase tries to be neutral as possible. They will just continuously bully Coinbase til they have to ESG and DEI scores like all the other companies are bullied into. Then they'll leave them alone.
Edit to address downvotes: DEI is considered a woke objective, whether you are left or right. There is an official Office of DEI in the US DOD. To argue that all 7 branches that adhere to DEI aren’t woke to some degree is incorrect. But by all means, down vote away. 🤙🏻
Spoken like a true elitist liberal. What are you going to use for a citation? NY times? CNN? Washington Post? If you're in upper management at a DEI corporation, you're already wasting everyone's time that works there.
I'll keep your post in mind when the Senate rushes through a 1700 page bill with 12 hours notice, and Democrats + RINOs push it over the 60 vote margin as with the fake ass inflationary "Infrastructure" bill. It will gut crypto, usher in more monetary surveillance than ever (YOU will report all $600 transactions while the rich continue to offshore their riches), and reward banks for abandoning good financial prudence in favor of DEI programs. As long as we're at each other's throats over Abortion, the Border, Gun Control, etc, the elite will continue to destroy the current and future prosperity of tens of millions of us who would otherwise land solidly in the upper-middle class but instead will be trapped in rental homes, childless, until well into our forties. Makes me sick to my stomach.
Under Ocrimelord all the fine $ from DOJ and SEC was routed (unconstitutionally mind you) to race based DEI OGA'S crap (AFTER THE BIG GUY GOT HIS CUT OF COURSE) No doubt that is back in now...
tldr; DEI, a stablecoin used as a collateral mechanism for third-party instruments built on the Fantom-based decentralized finance (DeFi) protocol DEUS Finance (DEUS), has failed to maintain its dollar peg, falling below $0.60 cents on Monday. DeUS Finance’s governance token, DEUS, went up from $163.40 to *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
Any borrowing market is exploitable this way if they are hardcoding prices and not using good oracle price feeds. This is the same thing that happened to Scream on Fantom when DEI stablecoin depegged.
I'm sorry for the people being laid off but I'm not sorry for companies whose values I see as distasteful for losing money. I see it as a natural consequence of bad business decisions and/or being on the wrong side of history. A lot of people will say that Kraken has incredible customer support and maybe they did. But maybe it's bad business to do this all in house. Meanwhile Kraken forced anonymous Glassdoor reviews to be identified, and Jesse doesn't believe in DEI and acted in his own words like a dictator. Whatever your politics you have to agree that libertarianism isn't the only representation of cryptocurrency and an apolitical approach would not only be more successful but less vomit inducing than libertarianism. And how can you claim free speech and libertarianism but force anonymous Glassdoor reviewers to be identified through court order? Maybe they did breach contract but so does any complaining former employee. My prediction is that companies that don't grow with the times will not be successful no matter how many enthusiasts like their approach. If Kraken dies because it's too old fashioned in the way they handle customer service or too libertarian it will be a predictable result. If you want mainstream acceptance of crypto you will have to move beyond its libertarian roots (if it even had any).
That’s why it’s hard to take ESG and DEI initiatives seriously because we are the ones profiting. If I work at an investment manager and we make millions and billions a year, we are the ones profiting and someone else is losing out. You went to bet there was no human suffering out there across the thousands of holdings and investments we made money on? There definitely was. Makes me realize there is a big dark side to this all the time.
There have been a ton of cases where bad debt is caused because actual prices didn’t match the oracle. Or even worse, Scream had 1$ hardcoded when DEI stablecoin depegged on Fantom. That’s a risk we all need to be aware of. Oracles are hard. Bridged assets bear quite some additional risk. The chainlink oracle was probably still the safest choice. Anything else would have been unreliable even under normal conditions.
Damn bro that is harder to stomach than my story. Atleast you found safety from DEI. We will come back stronger!
Bruh. I was a genius during the bull run (like us all). I even took profits! And then I put them all in stable coins - UST and DEI. UST started crashing, but I thought it would recover - it didn't. When DEI crashed, I immediately sold all of it, learning from my UST mistake - and now it's back at peg. 🤷🏽♂️🤷🏽♂️🤷🏽♂️
Two months into this and loans are still not paid. Scream users assets are still held hostage. The post mortem report is crazy, DEI is dead. \-- "This is a solid team. This post make wild assumptions without explanations other than links posted here and there without detailed explanations as to whats in them or how this connects to the logic of the argument, classic fud." FUD was the truth and you were wrong. What happened at scream is not good for crypto, It is criminality, that compares to that of wall street. No one should support anything like this.
I took profits - almost 100%. Put all profits in high-yield "stablecoins". (UST, DEI) Lost all my profits.
Indeed! Lost all my crypto profits with UST and DEI.
ROFL anyone remember all the fanboys saying how DEI has all kinds of collateral and mechanisms for restoring the peg, like the ingenious Stability fee, even though people are constantly issuing themselves new tokens?
tldr; DEI, a stablecoin used as a collateral mechanism for third-party instruments built on the Fantom-based decentralized finance (DeFi) protocol DEUS Finance (DEUS), has failed to maintain its dollar peg, falling below $0.60 cents on Monday. DeUS Finance’s governance token, DEUS, went up from $163.40 to *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
Better get some sleep bro... Picture is of aave protocol, where you see how much 1DAI !!! (Not DAI) is staked as collaterall A week ago 1DAI=DAI .. well not anymore.. they have a lot of worthless depeged 1DAI (that was recieved as a normaly pegged DAI making them illiquid / broke) which basicly means..they dont have OUR money anymore that we staked/lend them (witch should be zero risk) DEI is from a previous simmilar event..
Its DEI not DAI Big difference
I want to DCA into TriCrypto so bad, but after losing all of my crytpo profits in UST and DEI, I'm too afraid to touch DeFi with my principal.
Well, it is not the first. Kava did the same thing with UST. Kava hardcoded UST peg to $1 during the Terra fiasco. Traders took advantage and offloaded a load of assets off Kava for cheap. Kava fiasco happened before DEI's depeg. Why don't people learn from others' mistakes?
Putin will be back the gold standard RUSIA TERZIA ROMAE DEI GRATIA ☦️🏛🏛🏛🇷🇺☝️
It's all really confusing to me... You would think leaders would want to promote a work environment where everyone feels respected. Yet here we see many leaders on the crypto field taking a hardline that seems neither here nor there. I recently read that diversity equity and inclusion is a growth strategy rather than just some fad. Companies that can recruit from a bigger pool will have and edge in the long run. As the more talent develops from people with different backgrounds I can see those people gravitating to companies that incorporate DEI principals.
This was tweeted by their CEO earlier today as part of a thread FYI: > 5/ What are they upset about? > * DEI (Silicon Valley's version) > * *pronouns, whether someone can identify as a different race and be allowed to use the N-word* > * whether differences in human sex exist at all > * being respected and unoffended > * being "harmed" by "violent" words FWP Source: https://twitter.com/jespow/status/1536978826344792064?s=21&t=McO8mPVVs_07e9WcUli8Zw Weird wording.
Powell Tweeted: >5/ What are they upset about? * DEI (Silicon Valley's version) * pronouns, whether someone can identify as a different race and be allowed to use the N-word * whether differences in human sex exist at all * being respected and unoffended * being "harmed" by "violent" words FWP Sounds like that workplace is a political warzone lol
Where does he say "words can't be racist?" I read the article. I read all 11 of his twitter comments. It's not in there. Did you just intuit this from something you read or does he actually say that somewhere? Unless you're thinking of this? This is a summary of things people are upset about. Not necessarily what he thinks. Considering he seems to disagree with people being able to choose their own gender I'm pretty sure he doesn't think you can choose your race and then use the N word because you are a white guy that identifies as black or something lol. 5/ What are they upset about? \* DEI (Silicon Valley's version) \* pronouns, whether someone can identify as a different race and be allowed to use the N-word \* whether differences in human sex exist at all \* being respected and unoffended \* being "harmed" by "violent" words
I can see that he is. I don’t know much about him. But I guess the social justice, stakeholder capitalism crew is doing the same thing he is. The difference is that it is a 10,000/1 ratio. In my industry it is ESG, DEI etc 100% of the time. And god (or unknowable greater force) forbid if you give even a hint of something less than full allegiance.
https://twitter.com/jespow/status/1536978826344792064?t=FSKPLOz6_nrqCz9aZ6H9GQ&s=19 5/ What are they upset about? * DEI (Silicon Valley's version) * pronouns, whether someone can identify as a different race and be allowed to use the N-word * whether differences in human sex exist at all * being respected and unoffended * being "harmed" by "violent" words FWP
Heres the tweet for you 5/ What are they upset about? \* DEI (Silicon Valley's version) \* pronouns, whether someone can identify as a different race and be allowed to use the N-word \* whether differences in human sex exist at all \* being respected and unoffended \* being "harmed" by "violent" words
I don't think USDD is as widespread as UST was that time ago. There was even another stablecoin DEI that also depegged after UST but didn't have any noticeable effect in the market.
Man, I lost all my profits in the UST and DEI crashes, or I would have gone MENTAL buying BTC right now. Bought a little bit.
I had thought UST would regain peg, so didn't pull out funds - it crashed and died. I thought DEI would also die, so sold at $0.45 - now it's at $0.8, and might soon regain peg. 🤡🤡🤡
I lost money in UST and DEI. Now holding BUSD as my only stable. TBH, I’m not 100% sure it will survive, but I trust CZ.
I had insane unrealized losses in UST and DEI - two “stables”. Realized them yesterday and trying to move on.
You mean DEI crashing isnt going to bring the whole market to 0?! /s
Stablecoin DEI has lost its peg of $1 for the second time within a month. The stablecoin is trading at $0.419118 with a 24-hour trading volume of $1,468,752, data from CoinMarketCap showed. DEI is a complex algorithmic fractional-reserve cross-chain stablecoin with a native bridge connecting all chains within the DEUS ecosystem. The stablecoin DEI is not listed on any centralised exchanges. The cryptocurrency can only be traded on decentralised exchanges like Uniswap (V2), QuickSwap, OpenOcean, Solidly, and Beethoven X. Moreover, the trading volume of the cryptocurrency is also extremely low, as compared to the trading volume of other stablecoins like USDT Tether, USDC, DAI, or BinanceUSD. Also, unlike the Luna Foundation Guard, DEUS Finance, the organization that mints the stablecoin DEI, does not have enormous holdings of other cryptocurrency tokens.
*UST and DEI flashbacks* God, I hope not!
Sold some BTC 😔 to recoup UST/DEI losses. Expect a pump.
I had made decent profits with BTC and LRC over the last year. All of them gone in UST and DEI collapse. Back to the beginning.
Why the F does DEI keep going down when the market is pumping 😫
>Confidently wrong - that’s what you are. Ok. I've got few words describing what you are but I'll keep it to myself. >UST was NOT a collateralized coin, it was an algorithmic coin. LUNA was NOT used as a collateral for it, but burned or minted to keep the peg. UST and luna were just good example i provided so maybe even most stubborn mined could grasp the idea of what us wrong with calling something backed when it isn't. Collateralized is not backed either due to natural volatility of the asset and general definition. >Algo stables are known to have a death spiral vulnerability. IRON and FRAX and DEI are other examples of algo stables. >DAI and MIM are examples of overcollateralized stables. Nicely unnecessary lecture but at least you make an effort. >USDC and BUSD are collateralized stables with collateral being actual dollars. Not fully, not proven and that makes it unbacked. >Go read a bit before you go around acting like a smartass. I'm much smarter than you. Go buy some Luna.
Confidently wrong - that’s what you are. UST was NOT a collateralized coin, it was an algorithmic coin. LUNA was NOT used as a collateral for it, but burned or minted to keep rhe peg. Algo stables are known to have a death spiral vulnerability. IRON and FRAX and DEI are other examples of algo stables. DAI and MIM are examples of overcollateralized stables. USDC and BUSD are collateralized stables with collateral being actual dollars. Go read a bit before you ho around acting like a smartass.
Yes, I did say that. But I also hold some BTC at $20k avg. And some BUSD - enough to keep DCAing till the end of the year. DEI is still around $0.7 and I might get some relief from the airdrop for UST holders. Keeping my fingers crossed!
This guy said before: "Had kept most of my stables ready for the bear market - mostly in UST and DEI. Now those funds are losing value at a crazy pace and I honestly don’t know what to do" Yeah I understand why he is negative...
[https://i.imgur.com/av2qkTX.jpeg](https://i.imgur.com/av2qkTX.jpeg) DEUS requested the parameters. They offered to buy Scream at a price they knew the devs would jump on. So much so that Scream burned their bridges with Beefy and Yearn, who insisted Scream do not implement DEI, fully anticipating this vulnerability. Scream devs blinded by greed and a big payout. Put their user funds at risk and got burned big time. The insolvency of DEUS has now spilled over to Scream.
Well, while we're on this subject : Some insider info: DEI is transitioning from Algo coin to USDC - FRAX - DAI backed stable coin. Currently worth 60c and soon to be pegged. Great #arbitrage opportunity.
Did you know? There had been 21 stablecoins that failed up to now. The first one is NuBits, which went to shit in 2016. UST is the 20th on the list. The most recent one that lost its peg is DEI, which is now at $0.61 just few days ago. Next? My bet: USDD - whenever you see Justin Sun just click next.
tldr; DEI, a stablecoin used as a collateral mechanism for third-party instruments built on the Fantom-based decentralized finance (DeFi) protocol DEUS Finance (DEUS), has failed to maintain its dollar peg, falling below $0.60 cents on Monday. DeUS Finance’s governance token, DEUS, went up from $163.40 to *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
My biggest crypto losses are in stables. UST and DEI. FML.
DEI is not a stablecoin imo- USDC is
Whole market has gotten slapped hard It’s DEI btw. Save a click
The coin is DEI if you don’t want to click (or have been under a rock for the last few days)
Bullish for DEI. Buying more.