Content
@
0 reply
0 recast
0 reaction
Monteluna
@monteluna
Something just worries me about Ethena. The USDe is a long ETH, short ETH-USD perp synthetic, and that screams bad to me. There's plenty of times when the perp funding rates are negative or even the spread becomes massive between spot and perp markets. I'm not sure I would call this a "dollar" at all.
4 replies
0 recast
1 reaction
Monteluna
@monteluna
OK I'm not the only one here who thinks this is crazy. People believe perps just magically enforce par as if we haven't had multiple flash crashes and even speculative attacks to try and knock out shorts. This feels like a crypto version of a Soros style attack in the making and likely wildly dangerous.
0 reply
0 recast
1 reaction
