🚀 Gate Fun Chinese Meme Fever Keeps Rising!
Create, launch, and trade your own Meme tokens to share a 3,000 GT!
Post your Meme on Gate Square for a chance to win $600 in sharing rewards!
A total prize pool of $3,600 awaits all creative Meme masters 💥
🚀 Launch now: https://web3.gate.com/gatefun?tab=explore
🏆 Square Sharing Prizes:
1️⃣ Top Creator by Market Cap (1): $200 Futures Voucher + Gate X RedBull Backpack + Honor Poster
2️⃣ Most Popular Creator (1): $200 Futures Voucher + Gate X RedBull Backpack + Honor Poster
3️⃣ Lucky Participants (10): $20 Futures Voucher (for high-quality posts)
O
Opinion: Market feeding price + high collateral rate leads USDe to repeat the UST tragedy, LSD-type assets face the same problem.
BlockBeats news, on October 11, dForce founder Mindao posted on social media stating that this big dump is similar to the Luna crash in that both occurred when major trading platforms began accepting illegal fiat stablecoins as high LTV collateral, leading to risk penetration among trading platforms. Back then it was UST, today it is USDe, and the "stability" + high loan-to-value confused most people. When introducing illegal fiat stable assets as collateral, the worst combination is to use market price feeding while allowing high collateral ratios; combined with the fact that CEX itself does not have a fully open arbitrage environment, arbitrage efficiency is low, and risks are further amplified. LSD type assets face the same problem. These types of assets are essentially volatile assets disguised as "stability."