As strange and wild as #DeFi is, by being decentralized everything is ultimately transparent so you’re able to understand the risks, causes, and effects of specific actors in the space
2/ I don’t know with any certainty Celsius’ financial positions or treasury management and I can’t find out through any objective measure. Everything is unfortunately speculation. Maybe they have bad debt from stETH (cobie.substack.com/p/staking-pegg…)
May 23, 2022 • 18 tweets • 7 min read
Demystifying FUSD and the recent Fantom craze
A thread from a RugDoc engineer without insider knowledge 🧵 👇
1/ A week ago, Andre Cronje, the FTM godfather who supposedly left development completely, was seen deploying a contract on FTM after receiving 70M FTM (~$35m) from a Binance withdrawal presumably by the Fantom Foundation.
@FantomFDN@tombfinance@TombForkWatch@Forgiving15
As most of you know, one should not leave their tokens within a genesis for too long, as most of these contracts eventually (usually 90 days after genesis finishes) allow governance to take out all staked tokens.
Remember that one fork where they inverted the < to a >?