Discover and read the best of Twitter Threads about #3pool

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简单解释一下稳定币 $USDC $BUSD 和 $DAI 今日为啥都会脱锚?

$USDC 是在2018年由 #Circle#Coinbase 联合推出的稳定币,根据官网显示其有435亿美元的储备,其中持有324亿美元的短期美国国债和111亿美元现金托管在银行。根据Circle在2023年1月份的证明报告中显示托管在7家银行,每家银行的分配比例未公布,
7家银行分别是Bank of New York Mellon, Citizens Trust Bank, Customers Bank, New York Community Bank (a division of Flagstar Bank, N.A.), Signature Bank, Silicon Valley Bank and Silvergate Bank,最后两家就是本周爆雷的银行。
Read 6 tweets
We should consider looking back at the #UST collapse. I watched it go down first hand and have a list of 3 wallets that were buying and immediately selling at a loss perpetually to intentionally run charts down. Would love to have proof of what I witnessed.

A thread 🧵...
The primary contributors came from just 3 wallets:

Wallet 1: terra1yl8l5dzz4jhnzzh6jxq6pdezd2z4qgmgrdt82k (0x8d47f08ebc5554504742f547eb721a43d4947d0a)
Wallet 2:

terra195wtjmpjxhp336mclqfsyk2plvs8mw3lhsc5nc (0x4b5e60cb1cd6c5e67af5e6cf63229d1614bb781c)
Read 37 tweets
【Curve Stablecoin $crvUSD - First thoughts on the train】

1. Totally new model. No endogenous collateral. $CRV is not even mentioned once in the whitepaper. So like neither $LUNA nor $FRAX.
2. Fundamentally like $DAI, a CDP stable, but with a new liquidation mechanism.

2/ #LLAMMA: old CDP stablecoins have a liquidation price. Once it hits that, gg liquidated. #LLAMMA continuously liquidates and recollateralises as the price of @ETH the collateral moves.
3/ The #LLAMMA also deals with the bad debt situation we've seen on Solend. With traditional lending borrowing markets, you can b
Read 24 tweets
Why $ust's peg has everything to do with @CurveFinance's #3pool

A thread on $ust's collapse with @dicksonlai_ @GabrielGFoo @themlpx 🧵

@TheSpartanGroup @nansen_ai

1/ The story begins - believe it or not - with $DAI, and how it maintains its peg.

As a stablecoin backed by collateralized debt positions, the outstanding loans within DAI’s economy play an important role with regard to DAI’s ability to maintain its peg.
2/ When DAI is above peg, borrowers will be incentivized to take more loans with their collateral and sell DAI off on the market.

As a result, this increases DAI’s circulating supply, bringing DAI back to peg.

Vice versa.

Diagram by @dicksonlai_:
Read 16 tweets

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