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Tonyp
@tonyp
In a disorderly unwind of USDe, do holders sit in stETH or swap that to USDC/T?
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onetruekirk.eth
@onetruekirk
Redemptions are in kind (stETH or other backing assets) If rates go negative, individual holders must redeem into one of the underlying assets, meaning the risk of holding USDe or using it as collateral is equal to the underlying assets’ price/liquidity risk + custodial risk
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