see what happens to cause it to recover.
this should set you up as a starter: https://www.liquity.org/blog/on-price-stability-of-liquity
I was under the impression that the oracle signal was on chain, from liquidity pools against other stables
that would mean that if even one of those stables dies, LUSD would destabilize too (and there would be no possibility of intervention, since that protocol is completely ossified). that's worse overall.
Maker was not immutable yet
I was talking about Chronicle, the oracle protocol that spun off from Maker.
basically that is never going to happen.
look at Maker's history, what's been promised, and what's been delivered. don't take it for granted that puredai will ever happen.
yeah, you created an account and posted this right after and nothing else. you must be totally not Majestic Bank yourself.
you ripped me off every time I used your service. you skewed the price in your favor by several percentages after my transaction was detected, while the trade was processing. I even corrected my calculation for price volatility during the trade, so you can't say "sorry, the market tanked while you were waiting". overall I usually ended up losing 4-5% compared to mid-market prices at the time of the first confirmation of my deposit. (for perspective, this was in times when XMR had good global liquidity and anything above 2.5% loss was basically a ripoff.)
the only remotely positive thing about you is that you pour a lot of money into Monero conference sponsorships. this self-advertising is the sole thing that keeps your reputation within the Monero community from going to zero.
your shitty practices ensured I will never trust you again. get lost.
they've done worse every time I used them: they jacked up the price well after my deposit was detected by them. I ended up losing several percents compared to the price they promised.
it's a scammy service and they invest a lot into event sponsorships (for conferences, meetups) to gain visibility. they also leave useless comments on GitHub issues, which also looks like self-promotion. just like this useless Lemmy post. I'll never use them again.
as someone who has studied both, I would recommend LUSD (v1) over dai. LUSD was launched 3 years ago, so it stood the bear test. the minimum collateralization ratio of 110% applies to individual troves as long as the total system collateralization is over 150%. once that's breached, troves are required to have 150% minimum. the Achilles heel is the oracle. if Chainlink pulls the rug, which they can, it's over (sadly, Tellor is used by Liquity in a way that it can't protect against a Chainlink apocalypse). Maker is somewhat better in this because they use Chronicle, which is ran by more trustworthy people, but I'm almost sure they haven't made their contracts immutable. if that is the case, then the same attack vector exists there.
as you'll see, neither of these are the solution we're looking for, and they both run on the no-privacy, hypercomplex, captured, constantly changing Ethereum blockchain, so... fuck.
but dai for a long time has not been what the market thinks it is. avoid it.
Rucknium brought up your concern during today's Monero Research Lab meeting, some people commented on it: https://libera.monerologs.net/monero-research-lab/20240410#c361656
there is:
IRC: irc://irc.libera.chat/#no-wallet-left-behind
Matrix: https://matrix.to/#/#no-wallet-left-behind:monero.social
there is nothing that requires a perpetuals market to have a lower volume than the whole spot market for the underlying asset. perpetuals are derivative assets, the reason they exist is to enable trading regardless of access to the underlying asset's supply.
side note: Binance will shut down their XMRUSD perpetuals with the delisting, but they will keep running their XMRUSDT perpetuals (USDⓈ-M XMRUSDT):
Please note that users may continue trading USDⓈ-M XMRUSDT and ANTUSDT Perpetual Contracts.
on the major existing decentralized exchange, Bisq, you already have a publicly observable price feed for XMRBTC. you can calculate XMRUSD based on that and a BTCUSD price feed that you trust.
DEXs that are in the making, namely Serai and Haveno, both plan to have at least one XMR pair with an Ethereum-based dollar-pegged coin. I suppose, although I'm not sure, that at least in the case of Serai the trades on that pair will have publicly observable prices.
Haveno will also have non-blockchain, actual fiat (cash, wire, payment apps) pairs with XMR.
you can take sources like this and calculate an average or a median. current price aggregators, like coin listing sites, will probably do the same, so it's likely that even in a DEX-only future you'll get your prices from the same sources as today.
heads up about the screenshots -- when you need to obscure text (or anything else) on a picture, don't use blurring, pixelization or similar effects. they can be brute-forced and the original text can be retrieved, with trivial computing power. always use color fill to obscure data, and don't make it exactly as big as the data is (~visual padding).
this concept has been discussed before as "return addresses". it would marginally increase the transaction size and thus the storage requirements, but it's possible and seems reasonable. it looks like no one pursued it since knaccc formalized it. nevertheless it's on the roadmap ("Future" tab).
https://old.reddit.com/r/Monero/comments/b0gjud/monero_return_addresses_who_would_use_this_feature/
