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0 pointsSilasX3y ago0 comments

I’m familiar with the others and use them as well.

https://news.ycombinator.com/item?id=31422545

https://news.ycombinator.com/item?id=31417134

https://news.ycombinator.com/item?id=31412835

My comment was answering a question about “why stablecoins at all”.

To answer your question, because some uniswap v3 pools with USDT offered competitive returns, like the 0.05% WETH/USDT one. That was one of many I used, which included those that paired DAI or USDC with ETH.

I considered the concerns overblown at the time and so was okay with making some the USDT pools a part of my LP portfolio.

I’m honest.

0 comments

rglullis3y ago

It's not about the "concerns" that we should be worried about. We should also be worried about not perpetuating a gigantic scam.

Honesty is not just about "I wasn't the one profiting from the bad thing". It's also "I'm willing to call evil/immoral for what it is".

SilasXOP3y ago

I don’t consider being slightly undercollateralized a “gigantic evil scam” and the rhetoric around Tether is still definitely overblown, and if that were your primary concern (or am I not supposed to say that anymore?), you should have led with it rather than comparing it to similar defi returns.

rglullis3y ago

No. USDT undercollaterization is not my primary concern: https://news.ycombinator.com/item?id=31451820

And I wasn't comparing in terms of returns. I just pointed out that there is no real use-case for USDT that can't be served by the other tokens, including yield-farming in liquidity pools.

j / k navigate · click thread line to collapse

0 pointsSilasX3y ago0 comments

I’m familiar with the others and use them as well.

https://news.ycombinator.com/item?id=31422545

https://news.ycombinator.com/item?id=31417134

https://news.ycombinator.com/item?id=31412835

My comment was answering a question about “why stablecoins at all”.

I considered the concerns overblown at the time and so was okay with making some the USDT pools a part of my LP portfolio.

I’m honest.

0 comments

rglullis3y ago

It's not about the "concerns" that we should be worried about. We should also be worried about not perpetuating a gigantic scam.

Honesty is not just about "I wasn't the one profiting from the bad thing". It's also "I'm willing to call evil/immoral for what it is".

SilasXOP3y ago

rglullis3y ago

No. USDT undercollaterization is not my primary concern: https://news.ycombinator.com/item?id=31451820

And I wasn't comparing in terms of returns. I just pointed out that there is no real use-case for USDT that can't be served by the other tokens, including yield-farming in liquidity pools.

j / k navigate · click thread line to collapse