Someone should make a CMC/Coingecko for cash flow/dividend tokens like $FXS $CRV etc. The absolute price per token doesn’t tell the whole story anymore. It will also encourage fee switches.
Or @coingecko should have a historic cash flow chart/rank view instead of price chart. 📈
Right now, we're effectively capped at burning 200m $UST per hour (with the current price of UST).
That's 1.4% of the total supply per hour.
If the peg drops further, we can burn more.
Arbitrageurs will not burn anything over the 200m UST per hour as the spreads are too high.
I’m a licensed CPA in the US. If you need help navigating the tax implications of the $UST $LUNA and overall #crypto / #stock market crashes, comment here or DM me. No charge.
I don’t have a large network here so please retweet if you think this is valuable to the community. 💛
Most of the people calling for $UST to hit $0 know absolutely nothing about the mechanisms.
They haven't done research, they simply feel the need to say something about todays most talked about topic.
Blackrock and Citadel. The culprits.
Messing with #LUNAtics was not a good move.
As soon as Blackrock invested into Circle (USDC issuer), $UST became a competitor.
Here is what happened over the past few days (supposedly).
🧵👇
At the current burn rate, I'd expect $UST back at peg in around 16 hours.
Of course, the burn rate will decrease as we approach peg.
Take that as you will. Maybe I'm delusional. Maybe I'm not.
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Here's the hard truth that no one likes to talk about:
Anonymity in crypto is a myth. KYC is the future.
You'll most likely have to do KYC for everything that you want to do with your coins in the future. No matter if DEX or CEX.
I don't like it but it's happening.
I am not a maximalist in any way, there is no investment I’d continue to hold after a thesis becomes invalidated.
This space changes so quickly it’s unfathomable.
Your bags are not loyal to you, don’t become overly loyal to them.