Discover and read the best of Twitter Threads about #DeadSpiral
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🔑 points from this 1hr+ AMA @michaelfkong said:
1. FTM is a General Smart Contract Platform, not limited to DeFi, NFT, GameFi, Metaverse, etc.
2. fUSDv1 is the biggest failure in @FantomFDN (FF) history.
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1. FTM is a General Smart Contract Platform, not limited to DeFi, NFT, GameFi, Metaverse, etc.
2. fUSDv1 is the biggest failure in @FantomFDN (FF) history.
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3. Revamp into fUSDv2 its an unfinished job for FF.
4. It adds more utility to sFTM & can be used to engage DeFi activity on-chain while staking $FTM.
5. reiterate fUSD is not algorithmic stable such as UST, it will not have #DeadSpiral.
Summary:
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4. It adds more utility to sFTM & can be used to engage DeFi activity on-chain while staking $FTM.
5. reiterate fUSD is not algorithmic stable such as UST, it will not have #DeadSpiral.
Summary:
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6. There is liquidation cascade risk, mitigation is to limit 10million fUSD for now, & grow over time when FTM price becomes more stable.
Why FTM?
7. Because it never goes down, Reliable. Cheaper & faster than other chains in the same traffic.
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Why FTM?
7. Because it never goes down, Reliable. Cheaper & faster than other chains in the same traffic.
(3/x)
