cryptobanking

The 4 prices of money:

- Forex (Price vs. Other Monies)
- Interest rates (Time swaps of the asset)
- Price vs. Commodities (Price vs. stuff)
- Peg (Price vs. equivalents)

Crypto USD peg breaks are pretty much impossible to manage if the asset isn't backed by dollar-like assets, like short term bills or at least extremely liquid high quality assets.

It's kind of noteworthy sUSD got this far without peg breaking when it's only backing is SNX.

summary

This is a very good article by @AustinAdams10 on the failure of the $IRON peg way back in 2021 (a run that I recall watching in near real-time). https://t.co/CN6DfeLZS1

Jack

https://x.com/secjack_/status/1912749156361506997?s=46

this is amazing! love how you captured the vibe 🎨✨