![]() But it crumbled under the pressure of billions of dollars in liquidations - particularly on Anchor, a lending platform that promised users interest rates as high as 20% on their savings. The whole system was designed to stabilize UST at $1. Luna, UST's sister token, is now basically worthless after having previously topped $100 a coin earlier this year. 2010 Dodd-Frank Act that allows an entity called the Financial Stability Oversight Council made up of the. So if UST was worth 98 cents, you could essentially buy one, swap it with luna and pocket 2 cents in profit. New York State regulators in 2019 opened a fraud investigation into Tether. The idea was that you could always buy $1 worth of luna for one UST.There was also an arbitrage system at play, where traders were encouraged to profit from deviations in the price of the two tokens.smart contracts - lines of code written into the blockchain - would kick in to take the excess UST out of supply and create new units of a token called luna, which has a floating price.2.1.2 FDIC Reimbursement Resources and Measures. The price of UST can fall below a dollar when there's too many tokens in circulation but not enough demand 2.1.1 Financial Stability Oversight Council Resources and Measures 23 C FDIC Reimbursement (4,301,000 from Assessments): Certain FDIC expenses are treated as expenses of the Council. What is another word for main source of stability main source of stability. ![]() Instead, UST relied on a system of algorithms. The Financial Stability Oversight Council (Council) is proposing to adopt an analytic framework that describes the approach the Council expects to take in identifying, assessing, and responding to certain potential risks to U.S. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |