> Their docs state that there should be a max supply of 1 billion iron titan tokens[0]. But according to coingecko, there are over 27 trillion in circulation[1].
"[EDIT: I’ve since learned that the developer(s?) behind this are already the laughing stock of the DeFi community, having wrecked each of their 3 previous projects (now 4) — though this might be their biggest hit yet]"
That seems like a poor idea when the collapse of this project was preceded by their failing token doubling in price before falling to zero. You’d need an unknown amount of collateral for an unknown period of time.
Screwing up the maximum supply seems like an enormous blunder while I kinda understand the assumption that “price > 0” if they’re supposed to be backed by 75% usdc.
You might be confused. The "price > 0" refers to the price of TITAN. TITAN isn't backed by USDC at all. IRON is (ideally) backed by 75% USDC and 25% TITAN.
