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Time for the #Waves DeFi Revival Master Plan! 📜
Here is the plan to build Waves #DeFi back better than ever 👇🏻
wav.ink/3MX3PCv
Here is the plan to build Waves #DeFi back better than ever 👇🏻
wav.ink/3MX3PCv
2 major problems started April 2nd:
1️⃣ @neutrino_proto, $USDN stablecoin depegged from the USD - due to large selling of the USDN in the @CurveFinance pool
2️⃣ @viresfinance suffered a liquidity crunch - due to all the lenders deposits being loaned out to large borrowers
1️⃣ @neutrino_proto, $USDN stablecoin depegged from the USD - due to large selling of the USDN in the @CurveFinance pool
2️⃣ @viresfinance suffered a liquidity crunch - due to all the lenders deposits being loaned out to large borrowers
Both problems are still existing today.
$USDN is - almost - back to peg at $0.97 and Vires withdrawals are limited by the amount of liquidity that is repaid every day by borrowers.
We understand how hard this has been on the community, which is why this plan is so important.
$USDN is - almost - back to peg at $0.97 and Vires withdrawals are limited by the amount of liquidity that is repaid every day by borrowers.
We understand how hard this has been on the community, which is why this plan is so important.
Welcome to #WavesGate - laid out what I found on #WAVES, #USDN and @sasha35625. medium.com/@orisdorch/on-…
#Neutrino #viresfinance #wavesarmy @wavesprotocol @neutrino_proto
#Neutrino #viresfinance #wavesarmy @wavesprotocol @neutrino_proto
I got digging into the rather curious #WAVES address #3PEEsRmcWspCxhKqobvKY3axW1846AMRwzr, which is the center of some controversy since some analysis was performed on its recent activity in lending USDN to borrow USDC/T presumably to manipulate the market
On November 22, 2020 #3PEEsRmcWspCxhKqobvKY3axW1846AMRwzr withdrew 1,325,034.714 $WAVES from @binance. This address's first transaction was only a few days earlier, and this was only the beginning.. In the course of just over a month, it withdrew 5.64M Waves from #Binance...
4.95M of these were used for #USDN issuance, for a total of 41.28M $USDN. 30.88M USDN was transferred to what appear to be Liquidity / Lending platforms, but I haven't fully confirmed this as of yet..
