✅In the last 24 hours, there has been worrying activity for ETH. Just how worrying? A total of 10,500 ETH has moved to exchanges, and there are signs of upcoming sales.
✅Due to such conditions, there have also been Negative Funding Rates on Binance, and the amount of Short Positions in Future Trade has reached about 51%.
🔴🚨In the last 24 hours, the price has dropped by about 4%, and due to ongoing concerns about Sell Pressure, there is still no sign of a price increase, making Short Position the best option. #Ethereum #myanmar
Why Does RESOLV Exist Among Countless Stablecoins?
Stable coin are an area where a Crypto ethos don't seem to apply i.e centralized and partially controlled. (also heavily regulated by the government since it is equal to fiat value and essentially digital dollar).
Many decentralize stable coins have come and go due to the un-predictable nature of the crypto market.
The infamous Terra LUNA (UST) collapse was partly triggered by the rapid crash in crypto prices.
So how RESOLV keep it's stable coin decentralize and at the same time , not repeating the mistakes LUNA (UST) did ?
Delta-neutral strategy, by using delta-neutral positions, BTC and ETH that backed RESOLV stable coin (USR) will maintain it's market value even when market is in turmoil.
From delta-neutral positions, the protocol will earn funding fees and those fees will be directed to another token (RLP), thus generating Yield and keeping the stable coin (USR) stable.
RESOLV has 3 tokens structure unlike others.
1. RESOLV (Governance and Utilities) 2. USR (Stable Coin) 3. RLP (Yield generating , high risk - high yield token)
We should applaud RESOLV for its attempt to build a truly decentralized stablecoin.
Sure, it may be difficult to take market share from USDT or USDC — but having another decentralized option besides DAI is a step forward.