TCC

Solidity dev est. 2017

[TCC @tcc701]

https://t.co/fOzTQGrjLY

@defichain's light wallet is now available in chrome store as community edition (compiled and published by me).

I just had to add some slight UI changes for "web release".

#defichain #dfi

[TCC @tcc701]

@0xsurferboy @defichain Great summary. My thoughts about making $dUSD worth 1.20$ as collateral.

https://t.co/riHW8eONQn

[TCC @tcc701]

1/6 I talked about it on reddit here: https://t.co/iFv165Bd8f and copy paste it here as well.

As a second thought I mentioned when the ticker council proposed to make dUSD worth 1.20$ as collateral:

[TCC @tcc701]

6/6 Julian Hosp denied my arguments, the ticker council knew it better and since then dUSD is crashed further from 0.84 USDT to 0.65 USDT.

If we would follow their logic, the dUSD collateral value have to increased to 1.54$. As I told them, this is a death spiral.

[TCC @tcc701]

1/6 I talked about it on reddit here: https://t.co/iFv165Bd8f and copy paste it here as well.

As a second thought I mentioned when the ticker council proposed to make dUSD worth 1.20$ as collateral:

[TCC @tcc701]

1/ After a lot of thinking, I see some disadvantages of @julianhosp current approach for @defichain

#DeFiChain #Dfi

[TCC @tcc701]

5/6 Looped dUSD vaults would not be liquidated while stock loans have to be paid back (lowering TVL, higher APR) or adding more DFI / other cryptos as collateral (more DFI demand, higher DFI price, higher APR).

[TCC @tcc701]

@JoeMNowak @mark_19_76 @DFIblock1430640 @defichain Sure they are. If they can push their opinion that much so MN vote for it without hearing an opposite opinion as loud as the first one, it is a problem. I hope MN realize their responsibility for the ecosystem!

[TCC @tcc701]

@DFIblock1430640 @defichain 4/ But we should all think about solutions and just add as much DFIPS as possible. Would be great if some people with a lot of followers would not try to manipulate the opinion of masses with a continuous tweet fire.

[TCC @tcc701]

@DFIblock1430640 @defichain All of this actions and comments of the last few months clearly show that defichain is operating in emergency mode.
Every single action is tried to show as a positive signal, but each action and how they will be performed talking the opposite.

[TCC @tcc701]

@DFIblock1430640 @defichain So while we are working on dUSD repeg, the next issue is evolving. And like the last time, NOBODY is f****ck listening!
All actions are provided like the only and right thing. That's simply not true.
Some people are thinking too often like a trader than like a system guard.

[TCC @tcc701]

@DFIblock1430640 @defichain Overall the chain has not enough use cases. Except yield farming which is already done to more than 75%, the chain have to solve a lot more problems than just dUSD peg and lose a lot of time through this.

[TCC @tcc701]

@DFIblock1430640 Great summary!

[Michael aus Lönneberga @DeFiChainInfo]

@julianhosp @defichain Why the heck is there no announcement or timeline for such fundamental changes? It stinks like hell that something like this is implemented spontaneously without informing the community. Transparency is a key object of DeFiChain and Cake, both of which have been ignored here.

[TCC @tcc701]

No

[TCC @tcc701]

#CeFiChain 💪💪

[DeFiChain Ticker Council @tickercouncil]

Today, the ticker council has unanimously voted on raising the DEX stabilization fee for selling $DUSD back to 30% on all 3 pools of $DFI, $USDT and $USDC. The higher fee has clearly shown to keep short sellers out of the system and stabilized the price at around 1 USD.

[TCC @tcc701]

@phigo90 Everything you can use to get more coins out than you put into it is an attack vector.
1. FS AAPL at 150 to mint AAPL stocks
2. FS AAPL at 200 to burn AAPL stocks
50 dUSD (-10%) out of thin air!

[TCC @tcc701]

@phigo90 dUSD is useless if you measure its dollar value in USDT and USDC.
If one of them crashes, dUSD is crashing as well.
So why is it that important to have its own stablecoin? Why not use $USDC / $USDT / $DAI ...?

Future swaps will be the next harmful attack vector.

[TCC @tcc701]

@DFIblock1430640 Great idea 👍