#pdai
Remember when #pDAI hit $1 back in July? For a few minutes, pDAI and dozens of other PulseChain assets all jumped 36.9× (yes… 369, our Chain number) and then everything snapped back to normal. No buys. No liquidity movements. Just a chain-wide repricing. The most plausible explanation? The State Root of #PulseChain was temporarily overwritten. The State Root is the cryptographic summary of the entire chain at a given block: liquidity pool reserves, balances, contract storage - everything. If the State Root changes, the entire economic state of the chain changes with it. My belief: PulseChain briefly reflected the state of the L2, where pDAI is already over-collateralised and correctly priced. And this is exactly what we will see the moment pCopies are loaded into the new 1:1 Instant Convert contracts. It can happen atomically: Update State Root ➡️ load Instant Convert asset list ➡️ Glory. All in the same transaction 🪄 #pDAI to $1 #PulseChain season
DecentraliseMe74,165 Aufrufe • vor 10 Monaten
Richard is creating a secondary market for #Hex that also enables him to collateralise #pDAI, monetise his OA holdings and pump #pulsechain into oblivion. One of the easiest ways he can encapsulate his stakes after they've been made, is by using a tracking system that logs the stakes into a smart contract that can later be used to mint the derivative tokens. To create a secondary market he needs to place this derivative in places where people can trade it. Liquidity pools. Lending protocols. #plsx, #pAAVE, #pComp People will be able to buy & sell fractional shares of hex stakes. They will trade at either a discount or a premium. This is useful for those who don't want to hold hex directly but want to earn a yield bearing asset. 1. Create long Hex stakes 2. Mint your derivative 3. Create a market by putting half of your derivative holdings in pools & lending protocols 4. Realise the other half as a stablecoin that kicks off your own virtuous circle and protects the price of your derivative God I love this man
DecentraliseMe61,104 Aufrufe • vor 1 Jahr
The #pDAI picture has become clear, in what some believe are the final moments before the peg p-DaiMaxi has found that the secret L2 will deliver the peg through a protocol using a sealed vault model - where collateral goes in, but isn’t redeemed by us or arbitrage bots. Think of it like the Greyscale model. Where assets flow in and tradable shares are distributed. In this model, #pDAI acts as a share. #pDAI as a share of this vaults value can maintain its peg to $1 without the need for it to be redeemed by the underlying assets. ⬇️ If pDAI $1: The treasury sells pDAI to the market and uses the proceeds to buy #WPLS, #HEX, #PLSX - injecting value into other ecosystem tokens. ⬇️ This is where we’ll see the #Hex encapsulated stakes appear as collateral. This is where the OA bags will end up. This is where our story comes to its climax. #pDAI to $1 Video from @files_dirty 👇
DecentraliseMe32,984 Aufrufe • vor 1 Jahr
If you won’t believe me that this #pDAI cross-chain route enables arbitrage… maybe you’ll believe Richard. Here’s Richard himself explaining that once ERC20/PRC20 cross0chain routes open up, arbitrage becomes unavoidable - for '10,000 new coins'. ...and if he pushed 'wide-band,' the resulting arb activity would fill #Ethereum first... ...because bots will automatically, instantly, attack these price gaps. That’s the whole point. Open a route → Reveal the same assets at lower price → bots chase the spread → prices converge. #pDAI to $1 #PulseChain season
DecentraliseMe26,921 Aufrufe • vor 11 Monaten
#pDAI is close to moving into the collateralisation phase. The #hex OA has staked the majority of it's supply for 15 years. Pulse Recycled found that years ago Richard spoke of encapsulating Hex stakes and using it as a collateral asset within various protocols including compound and AAVE - both of which have been taken over and worked on, on #PulseChain. Encapsulating stakes works much like liquid staking, where a user stakes an asset and mints themselves a token of equal value that accrues interest. Richard is able to collateralise the vaults using a derivative of his Hex stakes. Hex holders will be able to do the same. They can create long term stakes, collateralise a pMKR vault with their wrapped stake of equivalent value and mint themselves $1 pDAI. Earning interest whilst getting immediate access to their liquidity. This is incredibly bullish for #Hex, #pDAI and all of #pulsechain. The collateral types look to be wrapped staked HEX, WLPS & PLSX. pDAI is, and always has been the plan to pump this chain.
DecentraliseMe35,811 Aufrufe • vor 1 Jahr