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0 pointspants22d ago0 comments

Unbacked stablecoins like USR make no sense - but USDC is one of the few real uses that crypto has.

0 comments

USR is not unbacked. You have a severe misunderstanding of the whole situation if you say that.

To be fair, the article itself says "unbacked" right upfront:

> an attacker was able to mint tens of millions of Resolv’s unbacked stablecoins (USR) and extract roughly $23 million in value

gwd2d ago

If I understand the situation properly, the system is only supposed to mint backed stable-coins; the hack resulted in unbacked ones.

mememememememo2d ago

Decentralized. Stable. Pick one.

Jommi2d ago

Decentralized > the transfer of authority, decision-making, or operational functions away from a central authority to smaller, local, or distributed nodes, systems, or entities

DAI is decentralized and stable

j / k navigate · click thread line to collapse

0 comments

Jommi2d ago

USR is not unbacked. You have a severe misunderstanding of the whole situation if you say that.

oersted2d ago

To be fair, the article itself says "unbacked" right upfront:

> an attacker was able to mint tens of millions of Resolv’s unbacked stablecoins (USR) and extract roughly $23 million in value

gwd2d ago

If I understand the situation properly, the system is only supposed to mint backed stable-coins; the hack resulted in unbacked ones.

mememememememo2d ago

Decentralized. Stable. Pick one.

Jommi2d ago

Decentralized > the transfer of authority, decision-making, or operational functions away from a central authority to smaller, local, or distributed nodes, systems, or entities

DAI is decentralized and stable

j / k navigate · click thread line to collapse