Omid Malekan 🧙🏽‍♂️
Omid Malekan 🧙🏽‍♂️
USDC+0.01%
SCR-0.90%
Let's start differentiating where stables trade in the secondary market vs what they can be redeemed for in the primary. Temporary depegs that can be arbed are normal. But it's unclear what this means for tokenized deposits where the secondary market could trigger a run.
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Stablecoins are supposed to always equal 1. But they don't. Right now USDC is $1.0007 on Binance. And a few mins from now, it can be $0.9994 on Uniswap. That's a (potential) $13 profit on every $10,000 traded. Here's how traders turn these tiny gaps into income:
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