After the investigation is over no doubt, I hope they bury them.
Something more transparent would be better as a stable coin, gemini dollar or other.
Just to play devils advocate once again I’d say this is definitely worth a listen, I still think there’s a risk associated with the negative “group think” going on around Tether and deciding not to list USDT without doing some solid research. There’s a huge arbitrage market opportunity we’ll be missing out on by not listing Tether, if I understand correctly there’s a ton of on-chain arbitrage related transactions happening on Tether that aren’t happening on-chain with USDC. It’d be wise for Nash to expose themselves to that market if they’re satisfied with the legitimacy of Tether. Maybe it’s worth it for the team to reach out to iFinex and come to their own conclusion. Skip to 1:07:15
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I think the issue is no one is satisfied with the legitimacy of tether other than Bitfinex and for some strange reason all the employees at Blockstream. At one point they were short over $850M in reserves, meaning if everyone went to cash a tether out at the same time people would be left holding a bag (fractional reserve?)
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This is a good topic of discussion, since there are good arguments to be made for both the decission to include as wel as to exclude Tether markets. It all comes to a weighing of which risk you are willing to take.
Excluding Tether markets from the exchange would mean we would miss out on the most widely used stable coins there is to date. For the exchange, this (theoretically) could create liquidity problems, which could discourage larger players from trading on our platform because of the slippage.
Including Tether markets on the exchange would probably have a positive effect on the liquidity of our exchange. However, as the conduct of the company has been opaque (stating it lightly), exposure to these markets comes with another risk. In the event where the trust Tether diminishes, or if there would be a cease and desist order from the authorities, this would probably lead to an exodus from tether the likes we’ve never seen before. Taking into account that quite a few exchanges have large tether holdings, it’s not out of the realm of possibilities they would trade their holdings for any coin/token that has any value. As insiders usually know this kind of information before the public, retail investors would probably be holding the bag in the end.
However, one could make a compelling case it’s not our responsibility to babysit retail investors. They should’ve done their due diligence and understand the underlining value/risks what they are trading. Furthermore, we would probably profit quite a lot from such an event since there would be a lot of trading volume in such a scenario. On the other hand, i feel the implosion of tether could damage the trust in cryptocurrencies as a whole. Including it as a trading pair would legitimise it only further, possibly creating bigger problems further up the road. All in all, i’m a bit conflicted on the issue. The pragmatist in me says we should include tether, the idealist says we should refrain from it.
Taking both sides into consideration, i have to say that the pragmatist in me has the upperhand. As long as it’s legal to trade Tether, i don’t think it’s wise to take the risk from excluding our exchange from such a huge market. It’s a free market after all, and people should be hold accountable for their own actions. Furthermore, as a start-up, i think it’s important to remember our place in the space and focus on what we need to do in order to survive. We could adjust course on this issue on a later time-frame anyways.
Well that are my thoughts on this topic. However, I can perfectly understand if the team differs on the issue.
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Hi all, I just read through this thread to see if Nash will list USDT/any stablecoin in the near future but did not seem to get an answer. @DeadPool_56 asked this question when he created this thread.
Does anyone know if a stable coin would be listed after the launch of the exchange? It would also be great if the Nash team can give us a clarification on this. @canesin
Thank in advance.
Yes, USDC at launch