/biz/ - Business & Finance

>>49819581
Don't bet against Justin Sun

>>49819581
>it's actually real
Holy fucking kek, this is the real Luna 2.0

Who among ye is man enough to buy the dip?

>>49819581
Looks stable to me

>>49819581

>>49819581
literally backed by $1bil usdc

>>49819632
Hell no i'm not touching that shit.
Should I withdraw my tether?

>>49819581
IM FREEEEEEEEEEEEEEEEE
FREEEEEE FAAAAAALLIIIIIING

Zoom oat

>>49819581
GET OUT OF USDD NOW! NOW GOT DAMNIT NOW!!!!!

>>49819581
>>49819596
>>49819608
>>49819632
>>49819635
>>49819639
>>49819656
>>49819666
>>49819696
It’s pumping back up a bit
Bros should I short this shitty “stablecoin”?

>>49819581
>ANOTHER logarithmic stablecoin
there should be a rule that logarithmic/non-redeemable "stablecoins" cannot label themselves as such. it is false advertising
if they do, exchanges should ban them

I guess we'll get another one of these soon

Buy the dip

>trusting chinks

you guys just never learn, do you

>>49819581
the stability is implied. Volatility is guaranteed.

>>49819581
the liquidity windows are shrinking in every direction... there's only way to get a pig through a keyhole.. pic related

>>49819751
It's algorithmic

>>49819827
my life is over

>>49819581

Ok, if you bought UST, I can see how you got fooled, it was shilled everywhere and you might not have done your research even though it was pretty obvious it would collapse eventually.

But USDD... LMAO come on now. You had a full month to get out after UST... If you are holding this you deserve to lose all your shit.

>>49819581

>>49819581
stability is only a suggestion :^)

is shorting tron good idea?

>>49819999
shorting any algo is a good idea

>>49819999
They are going to have to sell a fuck ton of TRX to buy enough USDD to recover the peg, so Id say yes shorting trx is wise

>>49819999
Short Tron instead

>>49819863
>the chink said funds are safu
phew, got me there for a moment

>>49819999
Checked

Tether will do the same
kek

>>49819999
Shorting any crypto while the market is this much down would be a terrible idea

>>49819581
What advantage is there to creating your own algorithmically based stablecoin? This just seems like a giant liability for the value of Tron with questionable benefits.

>>49819581
No stable coin is stable right now. More reason why I think spool's diversification pattern is brilliant. The risk is everywhere at the end of the day

>>49820207
This it's being rugged as we speak, it's already depegged. Imagine the meltdown kek

>>49819999
If you have to ask, no fucktard you’re going to lose everything. Do you even know the key supports and resistances for it? No? You’re just going to open a short and hope? Have fun

JUSTIN SUN HAS GONE RADIO SILENT
PEOPLE ARE BEGGING HIM TO PROVIDE LIQUIDITY
IT IS UNIRONICALLY HAPPENING

>>49819581
>stable at 1 for a while
>goes to zero
>stable at zero forever
what's the problem?

>>49821095
looks like he is trying to pump TRX again

>>49821072
>Do you even know the key supports and resistances for it? No? You’re just going to open a short and hope? Have fun

>>49819753
>joker laser eyes nft monkey
literally a parody of real life. how is anyone stupid enough to associate with this? because he's "being ironic" and so are you?

What the hell is USDD? Why are there a dozen different shitty stablecoins for the Dollar and literally none for other currencies?

>>49820290
Decentralization

>>49821152
yeah no shit
heard about it first ever time today... because it's suddenly a dumpster fire. wow, i am missing out? crypto gains are measured in psychological scars?

Fist LUNA, now this. Are these coordinated attacks?

>>49821188
no, it's just what happens when you build platforms on sand...the tide comes in and everything collapses at the same time

>>49819736
Is there anywhere you can borrow it at higher than 10x leverage?

Lmao, don't short you idiots. You retarded niggers are exactly the reason why Justin is doing this.

>Justin only needs to buy $30m to repeg USDD
>there is no arbitrage/redemption mechanism for USDD yet (so it can't enter a death spiral like LUNA did)
>funding rate on binance is -0.15%
>justin is earning over 100% apy by having leveraged longs open which he is using to provide the 30% yield on USDD
>boboniggers are about to get gaped

If you're shorting with this funding rate you are a braindead nigger

>>49821188
luna was not the first, there have been a few algo stable coins before it. Even the partially collateralized ones fail.

>>49819581
I have seen worse dumps

>>49821268
You don't just pay the difference in the marketcap to repeg a token, there's an entire orderbook of people who want to cash out the whole way back up to a dollar.

>>49821268
>>funding rate on binance is -0.15%
On cuck it was 0.022% a couple days ago, but that seems all gone.

So yeah, once it expires I'm out.

>>49821327

Justin has absolutely billions of stables ready to deploy, unironically. Even at $0.70 it'd cost him less than 5% of his aave stash - plus niggers would probably bring the funding rate down to -1/2% kek which would be over 800% apy.

If you're betting against this sophisticated scammer, you are actually a retard. He knows what he is doing.

>rockets fly
>a rocket crashes
>abandon all rockets

>>49819581
Why do people buy shitty algo stablecoins instead of USDC or USDT? I get the Tether fud, but what's wrong with USDC?

imo this purely manipulated by justin... he will just fuck all the bears and take your money

>>49821268
>>Justin only needs to buy $30m to repeg USDD
Hahaahahahhaha

>>49819581
unironically asking why you guys buy these random stablecoins instead of any of the biggest 3 that are clearly fine

>>49821423
You can loan out algorithmic stable coins to shorters for decent interest.

Though I doubt anyone is taking it at the 0.15% the other anon is talking about. You can find it much much cheaper.

>>49819753
History repeats twice-over, first as a tragedy, then as a farce

>>49819767
Biz is a blue balls board. Reported. Garloid torture porn belongs in /frku/

>>49821462
Simple. Because it is easier and less risky to make yields with them

>>49821497

the -0.15% is the FUNDING rate, aka SHORTERS are paying 0.15% every 8 hours (funding time) on binance to longers to keep their position open.

>>49821423

because they fall for the biggest midwit trap ever, which is muh "passive incooooom"
you see these idiots do the same thing with staking, like for CRO. Lock your coins up and get 20% per year! But then they lost 80% by holding kek.

Staking/APY etc. is all just whale psyops to get plebs to hold their bags while they dump on them. Obviously a POS blockchain is different

>>49821555
>binance
Not the only game in town.
>>49821508
These are the realistic APY lenders are getting. Binance is getting a massive spread at 0.15%, not everyone is just a sucker giving Binance money.

>>49821497

Also, the 30% APY which you can get for staking USDD should be coming from deposits/lenders. But in reality who the fuck is going to pay 30% to borrow a shitty algo stable?

Nobody.

And nobody did that for UST either. If you looked at the deposits/borrow ratio in anchor you would have seen just how unsustainable it was. The luna foudnation was basically just throwing money at UST stakers, to maintain the 20% apy, so it was bound to fail. That is what Justin sun is doing with USDD but there is no death spiral since there is no USDD redemption mechanism yet like there was for luna/ust

People are shorting trx with asymmetric information - they just think its the same algo ponzi. it isnt. they will get burned 100%

>>49821508
>>49821622
If that is Spool, then the APYs are a product of the aggregation of existing yield protocols including the lending protocols Aave and Compound. I think the best rates is coming from those two at the moment. Binance rates are super low in my opinion

>>49821642
>People are shorting trx with asymmetric information - they just think its the same algo ponzi. it isnt. they will get burned 100%

At 0.022% daily interest rate and with the coin still near the peg a week ago, it was a cheap bet. You literally couldn't get burned 100% at 10x leverage, because it can only go to 1$. Most of the principle was safe on an upswing.

It's getting less interesting, but it was worth a gamble to learn. I should have done done it with half my life savings instead of just playing around money though.

>>49821764

I'm talking about shorting trx - you're talking about shorting USDD

>>49819581
I never once fell for the stablecoin meme

>>49821072
>key supports
>resistances
hfsp

https://twitter.com/TheImmutable/status/1536928828479590400?t=bThGVK0kkE7Rg7iO60HIDw&s=19

>>49819845

You learn something new every day.

>>49821385

The fuck is the funding rate and why is it connected to the APY????

>>49819656
>usdc
Wait, the stable coin is backed by another stablecoin? Is that like a CDO made up of other CDOs?

>>49822368
Yeah except CDOs were made by trillion dollar corporations and these are made by Pajeet and Ivan after a booze binge.

>>49821508
These are unrealistic APYs, it should be like 2 % at most with current market status

>USDD depegging
>Tether still barely not depegging
>BTC having a mini rally
>ETH going back to the moon

I give up, this is literally nonsensical

>>49819581
Nothing is assured in crypto, not even the stables. I am beginning to be more skeptical even with nft games, although they are still my most preffered niche in this failing market especially p2o games where I can trade my nfts for money.

no, seriously
what the fuck is going on here

>>49822759
That's what I though but it seems to be the average of the best yield farming strategies combined.

So who slurped?

I am not shocked as bitcoin is going through this actually. We can only speculate its movement, but in all, we believe and agree it'll rise to the occasion. And I don't just believe it's bitcoin that would, ETH, syscon and most alts would too...

>>49819581
Why is TRX a better stable coin than this? It's consistently at .60c

>>49819753
does this guy not look at do kwons situation and not take a step back? this retard is doubling down?

>>49822368
Apparently they have tranches.
So polite to even acknowledge that there’s risk.