Nothing we say in this thread is the official policy of @CurveFinance. This is merely what one long-standing observer has pieced together from public channels.
An official update is expected if the dust ever settles.
March 4, 2024: ETHDenver Recap ๐๐ ๏ธ
21 Attendees Share Their Takeaways from #ETHDenver2024
๐งต1/24๐
๐งต2/24
The inevitable question: "How was #ETHDenver2024?" seemed impossible to answer... the event was too big to get a proper sample.
Instead, we asked everybody we met to share their takeaways, and 21 were kind enough to so!
Excerpts follow, full quotes in article at end...
๐งต3/24
@scupytrooples, Founder @AlchemixFi:
"ETHDenver was a massive jubilation...
Each bear market we survive, the bond we share grows stronger. The sheer amount of development happening in the Ethereum ecosystem is staggering, and it is honestly too much to keep up with."
The rates are too high! Can't Powell do something?
Not much. The $crvUSD borrow rate is governed by math and onchain inputs, so Fed Chair Jerome Powell would have limited tools at his disposal.
Here's how it works...
๐งต1/13๐
๐งต2/13
$crvUSD's borrow rate has whipsawed from nearly 0% to 10% multiple times in the weeks since launch.
The Monetary Policy contract is responsible.
This contract considers the balances in the Peg Keeper pools and the debts of the Peg Keepers to set this borrow rate.
๐งต3/13
The first input into the Monetary Policy is the balances of the affiliated Peg Keeper pools.
With healthy liquidity in the the v1 pools with major stablecoins ( $USDC, $USDT, $USDP, $TUSD ), $crvUSD has an implied price and a robust ecosystem of utility.