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Thanks for highlighting and especially that you have made the effort to work through this. For me it was over when he wrote BSC is good and then in the research I came directly to the fact that the team has the funds for $Trunk geruggt.... Thereupon their "stablecoin" is depegged. So the project is not "almost failed" in my eyes, it was already dead last year. Soberly seen the only reason to shill would be that you need exit liquidity, because he will probably not believe in it himself as BTC Maxi...
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@Magellan Not a thing. Yes, BSC and defi is rarely good. And that with the funds I did not get. I had understood it so that the stable coin has no direct peg but only about this Redemption receives a peg and since the waiting time is getting longer and longer and TRUNK continue to be created, the price on Pancake obviously goes down. I can also really not understand how you can shill the project. So makes absolutely no sense to me since it is already more or less gefailed.
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@TradingMelone the redemption was to ensure the peg short term, but at the same time there were also many funds in bonds to secure the whole. They have to do that to be recognized as stablecoin. The team has officially declared Trunk as an "elephant money stable coin". That's why they have to meet basic conditions otherwise the whole thing won't be recognized by CMC. Then in the high the funds suddenly disappeared and as a result Trunk depegged and $elephant crashed by 90% in one day. The project has a similar course, as Luna, but that is also not all agree that this was a mistake and not a rug, but at least no one questions that the project is dead🙃
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•@Magellan Interesting. I have not researched that far. Oh, people didn't believe me in March 2022 that Luna would eventually go to 0. They started big discussions with me when we were at 100. Well. What happened? People often do not think as soon as it comes to money.
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