While many thought that TerraFormLabs’ UST was unshakeable due to the underlying technology of the Tendermint protocol, time has shown that algorithmic stablecoins have the most risk of depegging.
USDT is one of the asset backed stablecoins that people can use to trade on Tradecurve, a new decentralized platform that offers investors access to crypto but also gold, bonds, stocks, forex and leveraged trading products.
Assessing Tether’s Bitcoin-Buying Strategy and Potential Risks
While Tether’s bitcoin-buying plan may be viewed as a way to speculate on BTC prices and strengthen its financial position, it raises some concerns.
Following allegations from the New York Attorney General about Tether’s misrepresentation of reserves, the company continues to release attestations. Tether’s recent move to accumulate bitcoin might be seen as an unnecessary risk, considering the asset’s volatility.
However, as a decentralized stablecoin issuer that is asset backed, Tether’s investment strategy differs from algorithmic stablecoins like TerraFormLabs’ UST, which depegged, in part due to lack of transparency around their reserves. Although an algorithmic coin, Terra supposedly had a large reserve of BTC in the case of algorithmic failure, but it seems that most of that went to founder Do Kwon’s pocket. This is currently under review as Do Kwon is being prosecuted.
Despite potential regulatory implications, Tether’s decision to buy bitcoin is unlikely to directly impact its users, although it highlights the risks and benefits associated with its main product, USDT.
If anything, the latest ‘Attestation Report’ shows us that Tether is less likely than ever to de-peg, given its wide range of assets such as bitcoin, and the fact that it no longer holds unsecured debts as reserves.
Introducing the Tradecurve Ecosystem: Empowering Traders with $TCRV
Tradecurve is a new way to do DeFi and TradFi, with the benefits of both – a wide range of asset classes mixed with the transparency and clarity of the blockchain. By using crypto deposits as collateral, people can avoid privacy invading KYC procedures, and USDT is one of the coins that will be accepted for that, as well as for trading with. Similarly, for those who are concerned about stablecoins, Tradecurve offers the potential to store savings in commodities such as gold, or things like bonds and shares.
In the world of trading, having the right tools and resources can make all the difference. That’s where the Tradecurve ecosystem comes in. They have a range of features that I have not previously seen on a DeFi platform, for example, access to a vast array of algorithmic and artificial intelligence trading systems. This is great for beginners and those who are interested in the power of AI.
Also, Tradecurve will host trading contests where participants have the chance to win prizes. The most successful traders not only walk away with cash rewards but also get the opportunity to be backed by the Tradecurve treasury. It’s a chance to showcase talent, earn recognition, and potentially secure additional financial support for talented traders.
In crypto, where there is so much happening at any one time, building a network of trusted people is essential. Tradecurve, therefore, enables talented traders to create their own trading communities, where members can automatically copy their trades using ‘social trading’.
This opens up new possibilities for both traders and their followers. Traders can not only profit from their subscriber base but also provide full transparency by storing their real-time trading results on the blockchain, fostering trust and accountability within the community.
TCRV serves as the native token of Tradecurve, and it’s anticipated to experience some serious growth. During the presale, there’s talk of a potential 50x increase, and after the launch on Uniswap and other Tier 1 exchanges, market analysts forecast gains of around 100x. You can buy into the presale using a variety of cryptos including USDT. The current price of the token is $0.012, with over half the tranche sold before the prices go up to $0.015
For more information about TCRV presale tokens:
Website: https://tradecurve.io/
Buy presale: https://app.tradecurve.io/sign-up
Twitter: https://twitter.com/Tradecurveapp
Telegram: https://t.me/tradecurve_official
