@Multisiteltd It is not being increased over time on sgb. It starts with 2m on flr and then it is going to be increased. On sgb it is going to stay 2m and Hugo was very clear about it in todays ama
@4DadsFtso@HugoPhilion@SongbirdNetwork@FlareNetworks Serious question- seems like putting faith in a collateral based on low liquidity brand new stable coin is creating a single point of failure for fassets? Am I wrong?
@_Jayachi_ My guess is that flare intentionally wants to cap maximum fassets amount that can be minted in order to avoid raising sgb price. Its stupid if you ask meโฆ
@iaian_s@JasonPe17336925 And? I have millions of sgb wrapped. I will unwrap millions with a single press of a button and then put that amount into fassets. I will not buy any aditional sgb so i will not cause any extra demand even when i will put millions into fassets. MOST are in the same boat.
@0xMetavault @xrpjesus2@SceptreLS Battletests are often done against 3rd party inferior enemy because risking cutting edge tech falling in the hands of the equal opponent because of small unforseen quirk is too high of a risk.
@0xMetavault @xrpjesus2@SceptreLS Thats is the main purpose of sgb. It is high risk canary network with actual value tokens. So attacker can attack it, gain value. The protocol will lose assets but the loses will be limited because on the canary network the worth deployed is limited.
@Multisiteltd@sandydylan Any crypto to crypto tx is considered same as crypto to fiat to crypto. So taxable event. Wrapping and unwrapping- dont think so since it is same token with same price but this one is not clearly described as it is new concept.