Sam

[Sam @Sam748762011485]

@CristianIonita6 @veloprotocol @krakenpro It's also on the regular kraken app with 'trading will start soon'

[Sam @Sam748762011485]

@veloprotocol Next Gen smart contracts need next Gen security audits...

[Sam @Sam748762011485]

@RonnyCrypt0 Thank you for the summary.

[Sam @Sam748762011485]

@castifao_kh .. It would be good if the team shared more about this so that we were all clear on how it works.

[Sam @Sam748762011485]

@castifao_kh 2.4.4 of the payfi white paper outlines a mechanism to prevent depegging. Usdv is 200% backed on minting including 150% in velo. The fall in velos price would possibly cause this mechanism to activate but I guess it would depend on when the usdv was minted. As someone said..

[Sam @Sam748762011485]

@LinkWarLord @JoelKatz @CatfishFishy @Qrypt0s @_Haedron @scottmelker Price and value are different things. The price doesn't always reflect the value.

[Sam @Sam748762011485]

@wideopentruth The apps on the play store link back to the website you posted a couple of days ago. There seems to be a lot of information on it, developer kits, user manuals etc

[Sam @Sam748762011485]

@wideopentruth Interesting and a good find. The descriptions of both apps mention many different tokens and Blockchains but not velo. I think more research is still needed.

[Sam @Sam748762011485]

@ChartNerdTA Do we know if these other stablecoins will be over-collateralized with velo like USDV?

[Sam @Sam748762011485]

@shanesek1 This seems reasonable. AFAIK the native velo token is on stellar. The tokens on bnb are bridged versions. Iirc velo is using axelar - I don't know if that means there might be a change in token standard later like there was with shx. Just something to think about too.

[Sam @Sam748762011485]

@vincent_vancode An enterprise using one of these services, like Ripple custody, will quite naturally be easier to onboard into the other services. Acquiring the businesses also allowed them to aquire customers.

[Sam @Sam748762011485]

@RWASUI Can I ask specifically what help you were looking for from the Sui foundation? You mention that your team has an almost unlimited development budget, so it sounds like you do have some support of some kind. I appreciate other projects may not be in your situation.

[Sam @Sam748762011485]

@AZCryptoNut @TammyCamp Those bridged tokens are using a token standard that is becoming outdated. If you have any of those bridged tokens you should exchange them for tokens of the new standard or presumably bridge back to stellar. That's how I understand it anyway.

[Sam @Sam748762011485]

@AZCryptoNut @TammyCamp My understanding is that the shx tokens are native to stellar. If you have shx on stellar you don't need to do anything. If you have bridged your tokens over to another chain your bridged tokens are locked on stellar and then a counterpart token is issued on the other chain.

[Sam @Sam748762011485]

@thinkingcrypto Borrowing against your crypto for any reason puts you in a similar situation. A huge dump in price leads to liquidation.

[Sam @Sam748762011485]

@ChartNerdTA Both using axelar