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Flamingo launches FUSD on TestNet, to begin beta testing margin maintenance bot soon
Do stablecoins really need a collateral when they're big enough?
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I cant access the first article as its behind a paywall. Regarding the other two, they are not exactly confirming that bitcoin is the least volatile. Found this one which is probably the simplest method to measure volatility over time (and not just specific timeframe which is favourable for the argument):[link]( https://medium.com/swissquote-education/bitcoin-vs-risk-understanding-volatility-472efe96e439#:~:text=Besides%2C%20we%20observe%20that%20Bitcoin,volatile%20than%20the%20EUR%2FUSD)
*Proceeds to market sell all BTC and crash market* "We told you BTC was shit. Now, if you want stability, come on over to FUSD where the F stands for Freedom. The official CBDC of the US."
Flamingo USD, 3x over collateralized with BTC and NEO https://medium.com/flamingo-finance/flamingo-finance-defi-releases-usd-stablecoin-fusd-49d61657a2c4#:~:text=FUSD%20is%20a%20decentralized%2C%20over,designated%20price%2C%20most%20often%20%241.00.
tldr; Flamingo Finance has launched the FUSD stablecoin on Neo N3 TestNet ahead of its tentative MainNet launch in early 2023. The stablecoin will be modeled after MakerDAO’s DAI token, which uses over-collateralization of digital assets to ensure its peg is held to US $1. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
While I agree with your sentiment because of recent experience, FUSD is backed by two yield generating assets, and overcollateralized like DAI, which has so far stood the test of time and market cycles.
Lot's of cool things! [NeoNS](https://neo.link/) domain name service went live this quarter. There's a great cross-chain NFT marketplace called [GhostMarket](https://ghostmarket.io/), and then there are Neo-only NFT marketplaces, [Sky Hut](https://skyhut.app/) and [Mega Oasis](https://megaoasis.io/). There's also an NFT lending protocol called [Rentfuse](https://www.rentfuse.com/). [Demex](https://dem.exchange/) just launched the first lending program using bNEO, and [Flamingo Finance](https://flamingo.finance/) is launching Lend and the FUSD stablecoin early next year. There's also a solid community-sprung DeFi platform called [Forthewin Network](https://www.forthewin.network/) that has novel use cases Multiple games are building on the chain, Neo Soccer, [Dogerift](https://dogerift.com/), [Quirky Soul College](https://www.quirkysoulcollege.com/), [Neo Candy](https://neocandy.io/), and [TOTHEMOON](https://tothemoon.net/). Beyond games, there's also a the [Meme2Earn.com](https://www.meme2earn.com/) platform that rewards users for making memes, and community members use $NUDES tokens to upvote or downvote memes. The native oracle network is live, and [NeoFS](https://fs.neo.org/), the native distributed storage network is make huge strides - a dropbox-like dApp called [Greenfinch](https://www.greenfinch.app/) just got grant fundnig from Neo Global Development. The community funding DAO, [GrantShares](https://grantshares.io/) recently awarded a soul-bound NFT project that incentivizes blood donations in Nigeria, community NFT campaigns, iOS SDK development, academic studies, and more. The 300th smart contract just went live on Neo N3, which is the third iteration of the blockchain (Antshare -> Neo Legacy -> Neo N3) which went live just over a year ago. So, network activity is growing slowly and organically. I implore anyone who is interested to check out the dApps on [nDapp.org](https://nDapp.org) and to keep up with ecosystem news at [www.neonewstoday.com](https://www.neonewstoday.com). Lastly, I just want to mention, the student grant we distributed was the result of a [month-long tour that the Neo team went on](https://neonewstoday.com/events/neo-touring-top-colleges-across-the-us-throughout-october-including-harvard-yale-and-more/) to top-notch universities in the US (i.e., MIT, Stanford, Harvard, U Mich, Berkeley). I hope that anyone who was once interested in Antshares/Neo will come to see that there's lots of great things happening in this ecosystem, which has out-lived and out-developed several L1s over the bull/bear cycles since 2015.
VITE is a feeless L1 with a burgeoning ecosystem which includes a [dex with a orderbook](https://vitex.net/) (allows native limit orders). There is staking on beefstake and Viva. GNS is on Polygon and expanding to Arbitrum shortly. Its the most capital efficient decentralized leveraged trading platform in crypto. If you hold and stake GNS, you collect trading fees including liquidations. Best part it pays out in hard currency (DAI rather than the native token). Can [see it all on chain](https://dune.com/unionepro/Everthing-Gains-Network?Trade%20Pair=ETH%2FUSD) too.
FUSD ? Thanks for alpha get early on this one guys, all other stablecoins like USDT USDC BUSD are at same price since years, hope FUSD breaks the curse on stablecoins, FUSD TO 100$ EOY 2024🚀🚀
Press F.... For FUSD.
FUSD to compete with BUSD. Bankman's clearly trying to distance himself from the rogues over at tether he's been sleeping with the past few years.
You will never get your account with crypto back. Yobit.net is a crappy exchange with rude administrators who have no problems public embarrass you. My account was mysteriously hacked two years ago and I lost 2000 USD worth of crypto. Of course I contacted them, but they do NEVER respond. I gave Yobit a second chance to this year and entered the FUSD AirDrop and never got it. Yobit is known for changing the rules every minute of course to their advantage, making it an extremely unreliable exchange. Plus you have to remember that the owners are Russians. Given the fact what is going on in Ukraine, it is questionable whether you still want to do business with it.
tldr; Flamingo is absorbing the Lyrebird stablecoin project and plans to launch a new stablecoin tentatively called FUSD. The stablecoin will be modeled after MakerDAO’s DAI token, which uses over-collateralization of digital assets to ensure its peg is held to US $1. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
I dont knoe exactly, maybe he didnt want FUSD ending up like USTC.
Fantom has been working on launching the liquidation mechanism to repeg FUSD, a stablecoin collateralized by the staked FTM used to secure the network. My question on FUSD: Do you think FUSD is necessary for Fantom and what is the intended purpose of even creating FUSD? While it's different from UST and doesn't have the same death spiral risk, doesn't it introduce more leverage into the system, which means it would come with cascading liquidation risk?
https://twitter.com/FantomAlpha/status/1526241854643228672?t=awCUm4Jy9sle9QSS0jt2gQ&s=19 Read this thread on Twitter, it explains very nicely how FUSD is not UST.
Their stablecoin is Not like UST at all. The price of FTM, doesnt care if FUSD isnt pegged to a dollar. Thats why the peg has been off for so many months. Its a nice little thing if FUSD is at 1$, but for the price of FTM it doesnt matter, because it has a limited supply. Ill link a twitter thread where this is explaindd.
lol i had the same reaction until i looked it up and saw both FUSD listed on coingecko
Yes. FUSD aka Fuse Dollar aka fuse
I dont know enough about it yet. Does anyone know if its an Algorithmic stablecoin like Luna or not? Most Algorithmic stablecoins fail at some point, so if FUSD is an Algorithmic stablecoin, that would be even more concerning. It really sucks, because its a great project, but the one thing weighing them down rn is their "stablecoin"
Is Fantom gonna follow Lunad crash, as FUSD had depegged massively already? Kinda concerning if your a holder.
FUSD is a different issue. FUSD was just an attempt by Fantom Foundation to get traction for their stablecoin. They listed it on Scream to help build out the ecosystem. At the end of the day, there is easily enough FTM to collateralize FUSD. There is 60M FUSD in circulation. Fantom Foundation is WAY more capitalized than DEUS Finance. Both were a mistake. The Fantom Foundation can fix the FUSD situation. DEUS is legitimately insolvent.
They knew exactly what they were doing. Their argument is "But there's no Oracle for it!" Okay, so don't list it then? Keep in mind, they listed DEI on May 12. Several days into the UST collapse. The excuse that it was just some lapse in judgement is not reasonable. They also had a similar issue with FUSD in the past. They knew the risk they were taking. The only logical explanation to why they took that risk, is because they were deliberately trying to help/save DEUS. A completely unrelated platform. That is inexcusable. Shame on everyone involved.
right... what broke LUNA was that they kept burning LUNA to keep the stablecoin pegged. I still don't think this is a great solution, won't the volatility of FTM, especially in a downmarket cause the collateral to get liquidated much more easily and have FUSD be de-pegged? Also won't the liquidation cause FTM to tank further and in a way create death spiral until everything is fully liquidated?
Is anybody bullish on FTM at these prices? I see a lot of Fud regarding FTMs new "stablecoin" FUSD currently at 79 cents to the US dollar
I can't agree enough with this. Blockchain is the new backbone of trust we have been missing. So many good projects are solving some real world problems with using blockchain technology. We cannot deny Bitcoin's power. OIN Finance is also creating many opportunities for those who want to earn through defi. OIN has launched a governance proposal on Fantom FDN!! OIN is proposing to rebuild the FUSD, restore it to peg, and take over branding and development. DYOR as always!
> low transaction cost Where? FTM gas fees are far from being low. I "play" with many DeFi chains and of all the ones I'm using, I would consider FTM to be one of the most expensive, along with AVAX. When the network is even slightly congested, gas prices can easily jump up to thousands of gwei, which translates to more than 1$ for a single TX. If you wait for favorable conditions, when gas price is in a more reasonable range (300-400), then sure, the fees are ok, but still far from being cheap. It also depends a lot on the contract you are interacting with, because the range of fees you will face is really extreme: from less than 0.01 FTM (interacting with yearn), through ~0.1 FTM (interacting with REN bridge), up to ~1 FTM or even more (minting FUSD - ~0.5 FTM, interacting with Geist - 0.3-0.5 FTM, interacting with Tarot - ~0.8 FTM). You want cheap fees, go to Solana or Harmony. Want medium (and consistent!) fees - try LUNA/Terra. Want high fees - try AVAX or FTM (; If you want extremely high fees, then there's obviously ETH (;
Figured it was going to potentially be the kick off point to formalize the centralized banking digital currency that has been murmured about for some time now. No need to allow unrestricted access to BTC et al anymore, just use the Fed's FUSD coin now! Centralized control, complete with the ability to blacklist users/businesses, reverse transactions and more! I was surprised to see this thread tie the announcement to anything positive given the US's already overbearing regulation in the space and aspirations for more. Couple that with the week's rhetoric of 'avoiding sanctions using crypto' and I can't believe the sudden announcement for review is anything good.
Hear me out, I think I got this. You create a defi bitcoin-backed loaning company and Make the whole thing legit. You will also need to create a new stablecoin that you can mint as you wish. Let's call it Fake USD. FUSD$ Use the stolen bitcoin to make loan paid in FUSD and wait to get liquidated. Your legit company recover the bitcoin when the price drop because it cant cover the loan ratio. Of course, it's a lot Of work since you will need real user and everything to cover the whole charade. But you've got fund to finance the project. Done right I feel like it could work. Hey, It's not your fault if stolen bitcoin are used on your legit defi platform. Just tell the police to freeze those FUSD$ that the hacker have in their wallet instead of the BTC. Easy life.