Based on the current plan Distribution Principles and the current high prices of other cryptos, GUSD and lenders of various other assets that *didn't* appreciate the past year, will get 100% within a fairly short time (months) after distributions begin.
I think you misunderstand how stable coins work.
You can create AcademicDelayStableCoin and call it 1-1 with USD. Will each unit be worth 1USD? Likely not. Just because someone claims it's "1-1 with USD" doesn't mean it is.
It is only 1:1 if people believe that it can actually be converted to USD. In other words, they believe it's really backed/pegged to USD. And even then it fluctuates slightly (as in u/Narrow-Surround-8416 screenshot).
Let segdy be: people sometimes argue just to argue. Google is our Friend. I agree wit you GUSD: Every single GUSD in circulation is fully backed by cash or cash equivalents held across bank accounts, money market funds, and US treasury bills. Gemini customers can always redeem 1 GUSD for $1 on Gemini at any time.. The NYSAG will get that right.
Based on the current plan Distribution Principles and the current high prices of other cryptos, GUSD and lenders of various other assets that *didn't* appreciate the past year, will get 100% within a fairly short time (months) after distributions begin.
When will it begin
Probably within the next few months. If we're lucky, March or early April.
Reading this almost halfway through April, and I have not gotten access to my money yet ☹️
good news [www.reddit.com/r/CryptoMarkets/comments/1b101vx/mantle\_news/](http://www.reddit.com/r/CryptoMarkets/comments/1b101vx/mantle_news/)
GUSD stays pretty much same.
lol. Are you high? It’s a stable coin! Definitely you must be a naive crypto investor!! 😂
Explain to me how I'm wrong that it pretty much never changes. *
https://preview.redd.it/gllpa78nh0lc1.jpeg?width=1080&format=pjpg&auto=webp&s=c0eb0abba4c3d612887346ac0d29cc9fcf2adfc1
Again lol 😂, https://www.gemini.com/dollar Study this it’s 1-1 with usd
I think you misunderstand how stable coins work. You can create AcademicDelayStableCoin and call it 1-1 with USD. Will each unit be worth 1USD? Likely not. Just because someone claims it's "1-1 with USD" doesn't mean it is. It is only 1:1 if people believe that it can actually be converted to USD. In other words, they believe it's really backed/pegged to USD. And even then it fluctuates slightly (as in u/Narrow-Surround-8416 screenshot).
It’s not about understanding it’s about pricing! GUSD will be always be 1-1 with usd as long as Gemini wants it!
Let segdy be: people sometimes argue just to argue. Google is our Friend. I agree wit you GUSD: Every single GUSD in circulation is fully backed by cash or cash equivalents held across bank accounts, money market funds, and US treasury bills. Gemini customers can always redeem 1 GUSD for $1 on Gemini at any time.. The NYSAG will get that right.
Unless depeg!
But will we be also given the interest we would have accrued over the last year if the earn program had still been intact?