It’s ironic that a token pegged 1:1 to USD should be called a “stablecoin”. Nothing about this USD chart implies stability. Since its inception, the dollar has lost over 96% of its value. The only sure thing about the dollar is that it’s purchasing power will continue to decrease.
The Fed printed 65% of the entire supply of USD in the last 18 months. In response, the price of Lumber hit 5x, Gasoline 2x and stablecoins printed exponential charts.
Janet Yellen just admitted USD inflation in the month of June 2021 alone was 5% and that’s with massaged numbers. How safe is it to hold stablecoins that look to be losing half their buying power every six months? It’s time for a legitimate “stablecoin”.
With Solid Defi the Fed can print all they want. They're just giving the market more USDt to add to the Solid Bonding curve. Since the Solid Bonding Curve issues SolidUSDT priced at the square root of supply the more the SolidUSDT supply inflates, the greater the purchasing power will be for each SolidUSDT.
Buy Price = (3/2*x+s**(3/2))**(2/3)-s = The square root of supply Sell Price = Integral of x**(½) dx = ⅔*x**(3/2) + c x = The amount in USDt you are sending to the Solid Bonding Curve Contract s = The current supply of solidUSDt
While the Solid Bonding Curve will eventually accept USDT. We like to support native crypto currency projects so the initial Solid Bonding Curve will accept DAI and mint SolidDAI according to this formula:
$1 Trillion dollars in market cap evaporated in the massive May 19th 2021 sell off. People lost $300 billion because of a single tweet from Elon Musk. What if there was a market manipulators tax that went to holders? With SolidDAI there is. Up to 20% of massive sell offs go to Solid token holders.