Yeah, good luck with it. vote passed, so now we rewarding the people who don’t pay off their debt. Good job. Too many idiots with money thanks to crypto… Decentralized governance will never work.
Not to mention the platform don’t even work now… Good job guys, well done. I’m out.
The team has all the votes do what they want. As cheeky as earning 80% and borrowing at 40%. They pause the borrow request without prior notice and without fulfilling their own proposals, so they can borrow at a certain APR and then pause the system to make sure it won’t go up. The web works as it pleases.
I hope you sold USDC LPs before the whale, if you had any. debt will never decrease now, and price will probably stay down…
700 million in supplied USDN… Only possible to borrow 25 million.,. Yet 700 million have 90% utilization with 50% APR. Either the UX gives wrong numbers somewhere, which is reeeeeaaaally bad, considering people already run around saying that waes is scamming through vires… but if that’s not the case, then It’s not sustainable at all, where’s the extra money to pay interest coming from?. And people have zero incentive to pay off USDC now. USDC is much safer. USDN might spike again tomorrow, so who cares if I’m doing 40% interest on my debt, when I get 50% on my supply. The only people putting money here now, either don’t know about the issues, cuz ofc there’s zero warning anywhere, we want new money supplied to bail us out after all, so we can stick them with the loss, instead of it being us having to sell at 40% less on dex. AND wavesarmy cult members.That’s it, no one else puts money here anymore, APY is much better everywhere else, without the risk of locking money forever.
I don’t even think this is the team… Reading comments, it’s obvious there’s a billion greedy people, who just vote on anything they think will benefit them, at the expense of others. There’s zero thought put into how shit affects everything. If I make money, then fuck you… It’s obvious. Especially when they go out of their way to pretend the opposite. Decentralized governance will never work, for the same reason democrazy leads to war. People are greedy, thinking they’re the smartest.
The only reason USDN still somewhat keeps peg, is due to this dude Zhuralev and his snsbt thing. Hyping people about the arbitration profits, making them send him supply to bring peg closer to normal.
That’s what’s keeping waves alive right now…
Ofc the rest of the nsbt holders are doing some too. But the dude that always does usdn arbitration, haven’t touched waves this time, at all. I know, cuz I bought and locked a ton of extra nsbt because of his arbitration, just before he stopped.
$662 million USDN is non-borrowable, so it isn’t earning yield. The 90% utilization number comes from the $27 million that is borrowable.
Yes, that’s what it says. But why the fuck is it counted as supply, if it’s not borrowable, and why the hell is it in the same pool as the rest, so it shows it paying?
It’s not borrowable but could be liquidated, in theory.
So… It’s not borrowable, I got that the first time, and I got that from looking at the UX before I even posted my comment… Let me rephrase my question then. If you’re just going to repeat yourself again, don’t bother.
Why is it in the pool with supply then? It’s not borrowable, it have zero reason to be there. To skew numbers? Pretend like there’s more liquidity than there really is?
Its not borrowable for anybody else but the depositor. So it is supply but only for that wallet. It cant take APR beacuse nobody else can borrow that part of asset. In the end, it is a UX issue yes.
Becasue , when USDN is below 0,995 dollars it is profitable to do USDN>WAVES.
when USDN is above 1,02 it is profitable to do WAVES>USDN .
Last 2 days , He couldn’t find any volume to sell on waves.exhange thats why. You could ask him on Telegram: Contact @puzzleswap .I believe he is open to talk usually.
All in all, i feel you are frustrated as most of us but the i dont appreciate language and attitude.
With respect.
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lol, you actually reported my comment. Way to prove my point.
pathetic.
You ignored the answer. It could be liquidated at some point because it’s being used as collateral to borrow all the USDT and USDC. He can’t withdraw it until he pays back the USDT and USDC.