Quote:
Originally Posted by PsYcNeT
Yeah Tether and DAI use AI/smart ETH contracts to keep their value at $1 USD. They use some complicated collateral and token burning systems beyond minting to keep things as close as possible.
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They must not really be decentralized then if they can arbitrarily burn tokens, right? They could start burning their own tokens but can only do that for so long. Then burn tokens in private wallets? I'm not sure if there is really any point to tether, is it just used as a safe place to keep things in the crypto space during market corrections maybe?
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