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🎁 We are doing a GIVEAWAY to celebrate the #CitizenNFT mint (phase 2)! ⏳ Get ready, Cyberpunk City enthusiasts! The clock is ticking, and in just 24 hours, the highly anticipated CitizenNFT minting (phase 2) will be LIVE. So don't miss out.⏳ 🚀 Here are the minting details: 🕖...

13,835 views • 3 years ago •via X (Twitter)

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Cyberpunk City3 years ago

The winners are..... 🥁 🏆 @georgestoian231 - 1 $EGLD 🏆 @Lumber_MOH - 1 $EGLD 🏆 @Flowing24360433 - 1 $EGLD Send a DM to get your rewards 🥳 Congratulations 🎁

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👑×KingD¤vid⚡🐳3 years ago

@kingjimmyc @danplatanetwork, @realProEGLD @ReyesSteven1988 @Benbenj9 @Norman63851285, @McHavefun, @AllenOneDC, @kingjimmyc, @IliePlaias, @BlazzordNFT @jeff_wainwright @MultiversX

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thekidₓ🔮🪓🦆3 years ago

@BuntiJustme @TazzXXD @cuciorva13 @VladW23 @MariusOrcasgg @Mga2504

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Blazzord (MultiversX Memes)3 years ago

@Ariefansclub @nl_dogecoin @razisvan

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TazzXD3 years ago

@MelegaRolf @WolfeZvan @VladW23

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Hitchy.EGLD3 years ago

@BJakeyy @smarh_EAPES @jpegpresto

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Techie3 years ago

@dnsv123 @razisvan @NikitaDNSe

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Baggins3 years ago

@crypto__nothing @yaminono @FriendlyBearMVX

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Constantin3 years ago

♥️🍀 @02Roche_ @6realvendo @alin6roman

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USH, the first native stablecoin on MultiversX, easily explained. TL;DR - USH is an overcollateralized stablecoin (similar in a sense to DAI) built by Hatom Labs (Hatom Labs), natively on the MultiversX blockchain. #USHto1 🔊 Hatom (HTM) is a leading DeFi platform offering 💧 $EGLD and $TAO liquid staking (sEGLD & sTAO) 💱 A Money Market (lending & borrowing) 💵 And, now, USH. --- TIMESTAMPS Introduction - 0:00:09 Exploring Hatom - 0:00:25 USH Isolated Pools Explained - 0:01:00 USH IP Liquidation Explained - 0:01:38 USH Arbitrage Opportunities Explained - 0:03:04 What Else Can You Do With USH - 0:04:29 Open EGLD Long Positions - 0:04:35 Buy Things With USH - 0:05:05 Provide Liquidity to USH-Related Pools - 0:05:20 Conclusion - 0:05:45 --- ## USH Staking Hub and the Isolated Pools The isolated pools are the core and heart of USH minting. So, how do the isolated pools work? Here's an example, supplying $1,000 worth of EGLD as collateral. As an overcollateralized stablecoin, the pool will always require a higher collateral deposit than the maximum possible minting amount. For EGLD, users can only mint 70% of the collateral deposit. Thus, for a $1,000 worth of EGLD deposited to the isolated pool, you could mint a maximum of $700 in USH. This, however, is super risky, and would set your minting limit to 100%. This is risky because if EGLD drops in value against the dollar, for example making your collateral worth $900, your position would be eligible for liquidation, crossing the 100% limit. In an oversimplification of the liquidation mechanism, a liquidator could repay 50% of your USH loan and take 50% plus an 8% penalty of your deposited collateral. In this example, the liquidated user would end with a position of $522 worth of EGLD as collateral. And a debt of $350 in minted USH. His minting limit would now be 95%, temporarily preventing another liquidation. It's worth noting that the liquidation wouldn't affect the USH you are securely holding in your wallet (like xPortal). Just your USH minting debt with the Hatom Protocol. Another user playing safer could, for example, mint only 50% of the available seven hundred dollars for a $1,000 deposit, minting $350 worth of USH. This would have avoided liquidation for the same price drop as before, as the mint limit would increase to 55%, still far from the 100% limit that makes an account eligible for liquidation. These mechanics guarantee that 1 USH is always redeemable for 1 dollar worth of assets in the protocol, opening doors for price arbitrage. **this is an oversimplification of the liquidation mechanism. DYOR! --- ## USH Arbitrage Opportunity (1 USH = 1 USD) Once one USH is always equal to one dollar at a protocol level, traders can arbitrage the USH value in different markets, making sure it will always get back to one dollar. Let's say 1 USH is now equal $1.10 worth of EGLD in xExchange ⚡. Then, users can use the mint function to benefit from this arbitrage opportunity. Depositing EGLD as collateral in the isolated pool. After that, the user can mint USH to sell for EGLD with a premium in the xExchange LP, using this EGLD to replace the deposited collateral, or deposit more to mint more USH and continue selling with a premium until the price is back to one dollar, profiting on the difference (around 10%). The opposite is also true when, for example, 1 USH is worth $0.90 in EGLD. This arbitrage opportunity will appear when repaying USH to get EGLD back. In this case, the user can buy USH with EGLD from the xExchange liquidity pool and use these tokens to repay part of his USH position in the Hatom's isolated pool, withdrawing part of the EGLD collateral. 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34,546 views • 1 year ago