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0 pointszionic3y ago0 comments

On the other hand DAI fluctuates between 0.999 and 1.001 all the time. Is it not "stable".

I am no fan of tether, but small fluctuations like this have always been normal for "stable coins".

0 comments

DAI has been designed to be soft-pegged. It is meant to fluctuate around the $1 mark, but it never guarantees any kind of parity.

retcon3y ago

This is why in regulated markets you can inspect the ticker: to provide a audit record for proof that nobody is funding themselves or the asset by arbitrage.

SilasX3y ago

That’s the point. Dai goes below and above $1. Tether has stuck below $1. That’s an important difference.

Longer comment: https://news.ycombinator.com/item?id=31449400

retcon3y ago

This might be fine in a open regulated market. See my above comment.

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0 pointszionic3y ago0 comments

On the other hand DAI fluctuates between 0.999 and 1.001 all the time. Is it not "stable".

I am no fan of tether, but small fluctuations like this have always been normal for "stable coins".

0 comments

rglullis3y ago

DAI has been designed to be soft-pegged. It is meant to fluctuate around the $1 mark, but it never guarantees any kind of parity.

retcon3y ago

This is why in regulated markets you can inspect the ticker: to provide a audit record for proof that nobody is funding themselves or the asset by arbitrage.

SilasX3y ago

That’s the point. Dai goes below and above $1. Tether has stuck below $1. That’s an important difference.

Longer comment: https://news.ycombinator.com/item?id=31449400

retcon3y ago

This might be fine in a open regulated market. See my above comment.

j / k navigate · click thread line to collapse