Zašto je osnivač WAVES-a navodno kupio 5 miliona 'jeftinih' ex-stablecoin USDN

If you’re into crypto news that comes from beyond the top 20 coins, you might be familiar with the drama okolo Waves [WAVES] and Neutrino USD [USDN]. In short, this involved the stablecoin USDN losing that status as it oozed value, while Waves founder Sasha Ivanov blamed Alameda Research for leading a FUD campaign against the flailing WAVES.

Izvršni direktor FTX-a Sam Bankman-Fried rubbished these claims, but now that the waters have settled (a little), let’s take a look at what’s going on in the WAVES community.

Waving goodbye to the past

On 6 April, Ivanov claimed that he had bought five million USDN. The ex-stablecoin, which fell down to $0.78 at one point, was trading at $0.9131 close to press time.

Danas ja:

– Trčao 5 milja
– Napisao 1000 poruka
– Kupljen jeftino za 5 miliona $ USDN
– Smislio sam novu ideju za #wavesdao
– popio kafu

Sada krenite da kupujete jeftinije $ USDN

— Saša Ivanov? (1 ➝ 2) (@sasha35625) April 6, 2022

What’s more, the Waves founder indicated that he planned to buy more USDN at a discount and perhaps turn Waves into a DAO. Strong ideas do have the potential to attract investors, but USDN was still trading far below its original price since being de-linked from its peg early in April.

Izvor: Santiment

However, DAOs are a glamorous word in the industry – take a look at the TRON project, now officially called TRON DAO on Twitter.

Making a splash. . .or a bellyflop

What about WAVES, in that case? Even though the market was turning red, the #44 biggest crypto by tržišna kapitalizacija was trading at $29.27, after falling by 13.50% in the last 24 hours and diving by 44.28% in the last week.

However, trading volumes were still spiking, suggesting that many investors might be looking at this fall as a “buy the dip” opportunity – in case WAVES sees another vertical rally again.

Izvor: Santiment

Is Vires veering or stabilizing?

Another puzzle piece: Vires Finance, the liquidity protocol for Waves – where Ivanov tvrdio he discovered evidence of Alameda Research’s attempt to short WAVES – put out a proposal explaining how the economics of the ecosystem might be changing to stop price manipulation in the future. It navedeno,

“Kako bismo spriječili manipulaciju cijenama i zaštitili ekosistem, predlažem da se privremeno smanji prag likvidacije za zaduživanje Wavesa i USDN-a na 0.1%. Takođe predlažem da se maksimalni APR zaduživanja ograniči na 40%.”

When users complained they did not understand the impact, Waves developer advocate and engineer Inal Kardanov said an explanation would come – if his tweet got enough love.

I see that many people don’t understand what this proposal for @viresfinance means for them and their money ? Like and retweet it if you want to read a thread-explainer ? https://t.co/ST9hhhW2Qm

— Inal Kardan ? ? (1 ➝ 2) (@ikardanoff) April 5, 2022

Što se tiče vremena štampe, 28.9k were in favor of prijedlog, dok 24.7k were against it. What’s more, Waves and USDN were still trending terms on Santiment.