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RE: LeoStrategy Token Buybacks | Re-Pegging After a 50% BTC Drawdown

3 hours ago

And this solution is comming from the same genius mind that thought it was a good idea to sell that many tokens in a limited community, in a short time and think that by some magic that community has more money then they need and just keep buying them, u released the 3 tokenized tokens so close after eachother that u couldn't even know that the peg mechanism would work. Now with this u break the trust as u change the contract, that "Temporarily" is going to be everlasting as all those that now feel like the trust is gone will sell against u to just swallow an acceptable loss and be glad that they get at least that back. I stopped buying after i had that figured out, sadly i was in too deep with surge to just take my loss, so i used that yield for something else in the hope that i wouldn't get screwed again, but there goes my plan.

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1 comments

@leostrategy69

2 hours ago

The documentation is quite clear that "Emergency Mode" will be activated in times of extended severe deviations

Here's the good news: we had two options

Let the status quo remain and tokens would continue to deviate to the downside. SURGE likely would be worth $0.25 in the near future but you would've gotten your 15% APR
Temporarily divert stablecoin yields into rebased yields which still pays the yield but pays it to token rebasing (buybacks + removal from market) which leads to SURGE rising toward its peg of $1 where the stablecoin yields will then be turned back on. You're now 100% ROI from the current price + yield is back to paying HBD

It seems many aren't reading the mechanics of this before reacting.

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