Reddit Posts
It's January 1st, 2023 and you decided to put 100 $ in the Top 10 Cryptos and 20$ in the late 50 Cryptos of the top 100, How would your investment be right now? And What would make the best return?
Eight of the top 10 stablecoins by market cap lost their $1 peg today, with Tether and Binance USD being the only two that held their peg during this turmoil
Change My Mind: Basically every "stablecoin" is a scam or ponzi
Balancer New Proposal To User Treasure Assets to Yield Farm
89,413% APR on FEI Stablecoin? Sounds like you can...
Just realized that stablecoins could become the Trojan Horse for crypto
Ethereum DeFi platform CREAM Finance hacked again
Cryptomiso's Representation of Selected Crypto Commits on GitHub (Past 3, 6, 9, 12 Months)
IOTX, TERRA, TRIBE, Orion launch on Coinbase
➡️ How to Classify Stablecoins (2021) | Econteric.com
$FEI Stablecoin.. What Went Wrong? An Economics Explanation
What's your favorite/highest ROI coins for yield farming that you feel will also have strong price appreciation?
🚀✨New crypto to make new millionaires✨🚀 🚀✨Take advantage of initial liquidity, Come live this dream✨🚀 New coin/token (solid fundamentals)
🚀✨New crypto to make new millionaires✨🚀 🚀✨Take advantage of initial liquidity, Come live this dream✨🚀
🚀✨New crypto to make new millionaires✨🚀 🚀✨Take advantage of initial liquidity, Come live this dream✨🚀
🚀✨New crypto to make new millionaires✨🚀 🚀✨Take advantage of initial liquidity, Come live this dream✨🚀
🚀✨New crypto to make new millionaires✨🚀 🚀✨Take advantage of initial liquidity, Come live this dream✨🚀 New coin/token (solid fundamentals)
🚀✨New crypto to make new millionaires✨🚀 🚀✨Take advantage of initial liquidity, Come live this dream✨🚀
Bankless ROLLUP: 2nd Week of April (Coinbase IPO, FEI Protocol, DeFi Shopify, ETH 2 Merge, BTC ETFs)
Bankless ROLLUP: 2nd Week of April (Coinbase IPO, FEI Protocol, DeFi Shopify, ETH 2 Merge, BTC ETFs)
UNILORD [PEER] protocol is far more better then FEI PROTOCOL and can do 100x in few month
Algorithmic Stablecoin FEI Crashes 50% as Devs Scramble for a Fix
FEI Labs has raised 639K Ethereum from over 17,000 contributors. Stable FEI turns unstable as the Genesis event ends. FEI users face unintended consequences and penalties.
FEI Labs has raised 639K Ethereum from over 17,000 contributors. Stable FEI turns unstable as the Genesis event ends. FEI users face unintended consequences and penalties.
FEI Turns Unstable as Genesis Event Ends Raising 639k ETH - CoinQuora
FEI Protocol - Backed by Coinbase, Andreessen Horowitz, and Variant - Genesis Period in 8 days
Mentions
Rate my risky portfolio: 40% Tether, 30% DAI, 20% BUSD, 10% FEI
Rode Ichi from $10k to $130k down to $5k. Got liquidated for 8 eth in the process because i had a loan out. And another loan for 10 eth that got hacked in the FEI/Rari hack.
Nice job. A year or so ago FEI was at 0.7 that was an easy 40%+ play. DAI looking stronger than ever.
I know a guy who has quite a bit in FEI usd. He was telling me how insane the APY is. I would not touch that shit
tldr; Fei Protocol, which raised $1.3 billion in Ether to build its FEI stablecoin, has shut down due to "challenging technical, financial, and future regulatory risks." The team behind the project is still valued at $47 million through its stablecoin. Fei Protocol merged with Rari Capital in December 2021 in the biggest DAO-on-DAO merger. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
The Rari, Tribe, and FEI project. What a shit show that turned out to be. I didn’t lose any money, but many weren’t so lucky and some got rekt
tldr; Babylon Finance will shut down its services for the DeFi asset management protocol on November 15. Founder Ramon Recuero revealed the news on Twitter in the late hours of Wednesday. The platform's total value locked (TVL) dropped from $30 million to $4 million as a result of the Rari/FEI hack. The BABL token was trading at US$ 0.4031 at press time. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
Are you actually interested in going through the redemption process or do you just have a bunch of stables you wanna go to USD asap on? 1. Tether doesn't redeem for small scale clients as far as I'm aware, they're main issuers are Bitfinex and FTX who then disseminate it through the rest of the market. I think they've got like a 100k minimum for redemption and potentially KYC so only whales/exchanges actually go through the process. 2. Any exchange with a direct Circle hookup should be able to do it, CB is probably best as they're pretty well connected to each other. 3. BUSD is Binance's backed coin. I've gotta imagine either Binance or Binance US can do a direct cashout if you want. Other stables are often connected to exchanges/centralized entities (USDP, GUSD) who should be legally liable to country compatible residents to redeem, DeFi projects with smart contract redemption to unlock collateral (FRAX, FEI, DAI, MIM), or are non-fiat based wrappers like BitGo for WBTC.
Will the same thing eventually happen to other algorithmic stables like FEI and FRAX?
Just like there will always be a market for bitcoin, eth, etc. And if you don't believe me then consider the opposite with shorting. If it it's destined to go to zero it would it be possible to short it to infinite profit. Shorting creates demand at some price point. Also consider that some amount is locked staking and in locked LPs. Whether its is worth $1M or $0.00001 someone will be willing to buy it (or short it), and as long as it's not too volatile the peg works, and volatility will eventually come down due to the cap and exchange friction. ​ Check out what happened to FEI when it launched, it had the same doomsday memes going on and now has been working fine for months.
Post is by: mybed54 and the url/text [ ](https://goo.gl/GP6ppk)is: /r/CryptoCurrency/comments/um3wg3/change_my_mind_basically_every_stablecoin_is_a/ Idk why there are a wave of projects trying to make a "stablecoin." We only need ONE stablecoin and I think it should be **USDC**. A bunch of these projects that tried to make their own stablecoins just ended up being scams / ponzis : Haven (xUSD), Fei Protocol (FEI), and lately Terra (UST). Most of these stablecoins promise to be tied to some bullshit peg with such low liquidity that whenever a crash like today happens they just fail. And to make it worse they drag the rest of the industry with them. LUNA foundation is now selling hundreds of millions of dollars to save their ponzi which is going to die anyways. Who knows what regulations the governments are going to now put to "protect people" from crypto. Can someone explain why there needs to be 100 stablecoins? *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/CryptoCurrency) if you have any questions or concerns.*
$FEI got exploited as well, 70 mil $ in user funds vacuumed out.
> I am fully aware (or atleast I feel I am )of the risks involved with ust terra If Luna collapses and UST depegs the only thing holding it up will be the BTC reserves, which amount to ~10% now and eventually will be about 65% of the value of UST. Just about every undercollateralized stablecoin has collapsed, just look at previous ones like Iron/Titan , FEI, SDO... etc. If UST loses it's peg and drops from $1 to $0.65 ( for example ) how attractive would that 20% interest really be? You'd have lost 15% of the dollar value if the collapse happened after a year of holding... Maybe UST/Luna will be the one undercollateralized stablecoin to survive... but the fact that interest is being subsidized by issuance rather than earned in a sustainable way makes it seem pretty high risk in my opinion. If the creators really believed in their design it wouldn't need to buy BTC with VC money to support itself. When people talk about sustainability it isn't about the current rate of interest, it's about the entire money flow of the system. Where is money coming in from to pay the interest? Luna is being burnt to create more UST, but where did Luna come from? At the initial token distribution only 4% was allocated to genesis liquidity, the fraction available for retail investors to buy. 26% went to VCs in private seed sales and the rest went to insiders (20% directly to the devs/creators, 30% under control of Terraform Labs and 20% kept as reserves). So in reality the creators made a token, gave it to themselves and sold some to some VCs, and have now created an elaborate way to convert it via UST into direct dollar value... but apart from this complicated conversion machine no actual value is being added to the system, which makes it look a lot like an obfuscated ponzi scam.
Algorithmic Stablecoins are fragile as fuck, see FEI and IRON's past example. Once market goes panic mode, peg takes a nosedive. I won't put my money in them anytime soon.
> Sole individuals have pressured the three big pools in Ethereum to block certain wallets (by not processing transactions from them). Do you have a citation for this? I can't find any information about this happening. This doesn't strike me as a particularly effective way to censor someone considering how many different pools have successfully mined blocks just within the last hour. At worst you'd have to wait a few extra minutes to have your TX confirmed. And yes, if you use centralized stables you're subject to the whims of the issuing entity. DAI isn't restricted this way, and neither are the other DAO stables like FRAX, FEI, or LUSD.
Yes, algorithmic stablecoins. FEI and RAI are some good examples
What about FEI? It's decentralized and backed by ETH.
I usually just buy more of what I already have. Lately I’ve been binging on COLI and FEI