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Forwarded from Lawrence James
Burning tokens won’t do much…USDX is one problem. In the wild it won’t hold its peg. They are protecting it by paying rewards for depositing minted USDX in Hard pools, so it all goes there. No liquidity for, no useage outside of Hard. Second issue is liquidity of rewards. Freezing them for a year is a turn off. Subsequently there is no market for Hard or Swap. Juxtaposed against the Terra ecosystem or Osmo (which recently flipped Kava despite only being three months old) where there are no restrictions on ecosystem tokens, airdrops or rewards. Third issue is no assets can flow into Kava because there is very little in the way of connectivity and Binance is the main source…scary for big money. Further, kava team insists on not adopting IBC yet and has there own ethereum bridge development on the road map. By the time they connect to cosmos and ethereum they will be way behind…and no serious money is coming to a platform with no liquidity. Rather than a burn, how about freeing up rewards, implementing IBC, working on USDX peg?
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