<story><title>Another stablecoin loses peg – DEI team working to restore the peg</title><url>https://finbold.com/warning-another-stablecoin-loses-peg-dei-team-working-to-restore-the-peg/</url></story><parent_chain><item><author>Ekaros</author><text>Isn&amp;#x27;t entire point of stablecoin that you can redeem it for the face value at any time? Not being able to redeem it seems like violating the contract or changing the rules while game is running...</text></item><item><author>logifail</author><text>&amp;gt; Traders are taking advantage of this arbitrage mismatch, buying up DEI coins and exchanging them for $1 worth of collateral, making matters worse. Deus Finance reacted by halting the redemption process in order to try and stabilize the coin.&lt;p&gt;Good luck with that.&lt;p&gt;Who else is reminded of the story of George Soros &amp;quot;[making] $1.5 billion in just a single month [in late 1992] by betting [that] the British pound and several other European currencies were priced too richly against the German deutsche mark&amp;quot;[0] ?&lt;p&gt;[0] &lt;a href=&quot;https:&amp;#x2F;&amp;#x2F;www.forbes.com&amp;#x2F;sites&amp;#x2F;steveschaefer&amp;#x2F;2015&amp;#x2F;07&amp;#x2F;07&amp;#x2F;forbes-flashback-george-soros-british-pound-euro-ecb&amp;#x2F;&quot; rel=&quot;nofollow&quot;&gt;https:&amp;#x2F;&amp;#x2F;www.forbes.com&amp;#x2F;sites&amp;#x2F;steveschaefer&amp;#x2F;2015&amp;#x2F;07&amp;#x2F;07&amp;#x2F;forbes...&lt;/a&gt;</text></item></parent_chain><comment><author>DebtDeflation</author><text>Yes, a true &amp;quot;stablecoin&amp;quot; would be 100% backed by deposits in a known and verifiable money market account and able to be withdrawn into USD or other real currency on demand at a 1:1 ratio.  None of the things called stablecoins today meet this very simple set of criteria.</text></comment>
<story><title>Another stablecoin loses peg – DEI team working to restore the peg</title><url>https://finbold.com/warning-another-stablecoin-loses-peg-dei-team-working-to-restore-the-peg/</url></story><parent_chain><item><author>Ekaros</author><text>Isn&amp;#x27;t entire point of stablecoin that you can redeem it for the face value at any time? Not being able to redeem it seems like violating the contract or changing the rules while game is running...</text></item><item><author>logifail</author><text>&amp;gt; Traders are taking advantage of this arbitrage mismatch, buying up DEI coins and exchanging them for $1 worth of collateral, making matters worse. Deus Finance reacted by halting the redemption process in order to try and stabilize the coin.&lt;p&gt;Good luck with that.&lt;p&gt;Who else is reminded of the story of George Soros &amp;quot;[making] $1.5 billion in just a single month [in late 1992] by betting [that] the British pound and several other European currencies were priced too richly against the German deutsche mark&amp;quot;[0] ?&lt;p&gt;[0] &lt;a href=&quot;https:&amp;#x2F;&amp;#x2F;www.forbes.com&amp;#x2F;sites&amp;#x2F;steveschaefer&amp;#x2F;2015&amp;#x2F;07&amp;#x2F;07&amp;#x2F;forbes-flashback-george-soros-british-pound-euro-ecb&amp;#x2F;&quot; rel=&quot;nofollow&quot;&gt;https:&amp;#x2F;&amp;#x2F;www.forbes.com&amp;#x2F;sites&amp;#x2F;steveschaefer&amp;#x2F;2015&amp;#x2F;07&amp;#x2F;07&amp;#x2F;forbes...&lt;/a&gt;</text></item></parent_chain><comment><author>davidcbc</author><text>The big stablecoins have terms of service that say they don&amp;#x27;t guarantee you can &lt;i&gt;ever&lt;/i&gt; redeem them.</text></comment>