Aureolus Bombastus von Hohenheim

[Aureolus Bombastus von Hohenheim @DanielM57918966]

#Bitcoin has an infinite inflation bug. It's called halving!

[Aureolus Bombastus von Hohenheim @DanielM57918966]

@SIN3R6Y Love it how you handle the current situation! @SIN3R6Y you are a real GOAT of the ecosystem

[Aureolus Bombastus von Hohenheim @DanielM57918966]

@maria_wats8492 Claude

[Aureolus Bombastus von Hohenheim @DanielM57918966]

@TommiPedruzzi Doc

[Aureolus Bombastus von Hohenheim @DanielM57918966]

@SIN3R6Y True!

[Aureolus Bombastus von Hohenheim @DanielM57918966]

@TheCryptoMando Amen

[Aureolus Bombastus von Hohenheim @DanielM57918966]

@RichardHeartWin @PeterSchiff @PeterSchiff interesting chart. It totally underlines you argument, not.

[Alex McWhirter @SIN3R6Y]

Kevin, this isn't a new problem. We hit this same problem with web-servers in the late 90's. Simply scale out, have more chains, and get them all to talk to each other. None of this L2 over L1 BS. All L1's, speaking a universal language.

#PulseChain is just one of these chains, there will be many. And the asset to connect them all will be stables, and there will be many more stable options over time.

[Aureolus Bombastus von Hohenheim @DanielM57918966]

@SIN3R6Y @_SigmaProtocol Love this post! It's like you said. The community should stick and build together. Not against each other. Which is kind of the case right now. But this can be changed. Also, we should focus on things that move the chain forward and not things that don't provide new value.

[Richard Heart @RichardHeartWin]

So crypto, what are you gonna do when the mass marketing starts ripping faces off? People are going to hear about PulseChain, PulseX and HEX and pump dot tires directly before they hear about anything else. They're going to hold something in their hands that works great and is impressive. Something they're not going to throw away.

HEX did a 10,000x in price the first time, while being murdered with deca millions in fees to ETH. Now PulseChain exists and when PLS goes up, HEX goes up. PLS, PLSX, HEX, pump tires, they all reinforce each other! Coin burning everywhere you look. It's amazing. Dry powder ready to explode. The weak hands shaken out violently. Amazing designs and reliability with years of track record.

The match is nearly struck. Be ready for greatness. And haters, you mind as well get your memes ready, because you're going to be very butthurt.

[Aureolus Bombastus von Hohenheim @DanielM57918966]

@lynk0x Stopp lying. Its the house of Walter White! https://t.co/XfehYT8DOx

[Aureolus Bombastus von Hohenheim @DanielM57918966]

@RackhamRishel You should first sign up before you can buy. Just a friendly hint ;)

[win @plsdotwin]

IMAGINE 🌈 @zkp2p + @RelayProtocol + pStables = UNSTOPPABLE

[Aureolus Bombastus von Hohenheim @DanielM57918966]

@RokketHeart @Kryptosparbuch I don't care. I'm fine with both. But I'll my own r:r which says pDai is not an asset I'll invest in ever. So don't care about the outcome.

[Panos @stridentcitizen]

Alex Hedron dev (@SIN3R6Y) explains $pDAI situation

FULL CLIP

[Aureolus Bombastus von Hohenheim @DanielM57918966]

@stridentcitizen Greed is the real reason why the pDai maxies still buying. And that's the most fatal way to try to make it in life!

[Alex McWhirter @SIN3R6Y]

Maybe a picture will spell it out better. I decided to fork the unified liquidations UI to pulse chain. It's not super useful, but is nice to be able to see things happening near real time. Replace ETH with PLS in your head.

1. When a vault gets below the safe collateralization level, you can liquidate it and start an auction. You get a pDAI reward when you do this.

2. When an auction is started, it starts at the OSM (oracle) price + a governance defined buffer. Here you can clearly see the oracles think PLS is worth a lot more than it is.

3. Because the OSM is broken, the prices make no sense. You would lose money bidding on these.

4. But, what if it was your debt? You put in the PLS, borrow the pDAI, then you pull a bit of the collateral (or dump a little illiquid amount on broken forked DEX's with OSM's) and liquidate yourself. Which you get rewarded for, then you can wait for the price on the auction to decrease enough that you make a profit. Because the OSM is broken, it doesn't make financial sense for anyone else to compete with you and buy your debt. It only makes sense if you own the debt yourself.

5. if the price doesn't make sense, just let it expire and call "redo" to restart the auction. You get rewarded for this as well. And you can let your auction go another round until prices line up with what you want.

6. Put all of this into a smart contract that ends by re-collateralizing your vault in the same TX so you don't get liquidated by someone else, and also the debt ceiling is hit so no one else can make a new CDP. Only you get to play the game.

6a. At least until pDAI gets so cheap from this process that someone else justifies liquidating some of these. so they can make new CDP's for themselves or something. Got a long way to go for that.

This is directly related to the OSM's being broken. Between the reward for starting / restarting auctions and being able to self liquidate at a lower entry price, but still maintain a state that no one in their right mind will liquidate you, you win.

[Aureolus Bombastus von Hohenheim @DanielM57918966]

@KR4ATH @yourfriendSOMMI You basically can see it by observing the gas fees when the guy is starting to mint again.

[Aureolus Bombastus von Hohenheim @DanielM57918966]

@KR4ATH https://t.co/XOHwxqCgOz

Check @SIN3R6Y : I think the is one of a kind that really understands what he is talking about.

The rest 99% are just rugged pDai bag shillers

[Alex McWhirter @SIN3R6Y]

The part you are missing....

Internally, there are a handful of oracles in the forked maker system that are reporting incorrect prices. Any easy one to point out is the USDC oracle, which always assumes 1pDAI = 1pUSDC. pUSDC is a value CDP asset.

But let's do PLS, Some of the forked DEX oracles properly report the current PLS price, some don't, and many other centralized ones report a price of 1 PLS = ~2300 pDAI. The maker oracle system uses a median of many oracle price feeds. Manipulating a few of them from forked DEX's which no one puts LP on so that the median is a very high number is not that difficult.

So now, assume you can make pDAI think internally that 1 PLS = 2300 or so pDAI by doing a few forked DEX manipulations + chainlink and others that will enforce that fact. The PLS collateral required is effectively $0, and you can get a large amount of pdai.

Now flip those low LP DEX's and poke oracles till median reports a more accurate number. Reprice the auction, and pay way less dai to liquidate it than you got out of the deposit.

This is how you inflate above the debt ceiling. Because you can flip flop the valuations between high and low, in one action you are above the debt ceiling, in the next you are not. Over and over. As long as you can flip the maker system state between thinking PLS is very expensive, and very cheap (especially how 5996 is doing it in the same TX using flash loans), you can arb LP out of pools until the debt ceiling in the cheapest case it hit.

[Aureolus Bombastus von Hohenheim @DanielM57918966]

@Mich924851311 @SIN3R6Y Don't do pDai is the solution.