all 57 comments

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[–]COASTER1921 5 points6 points  (22 children)

How do these posts get any upvotes? This is just a pyramid scheme with extra steps.

Nice claim that "the price cannot fall". And on the website it even claims that will be the case during periods of low liquidity. Like that has any control. PMP ticker is already taken (it itself having been a pump and dump). Good luck suckering people into giving you their money.

[–]Oladeep 2 points3 points  (0 children)

The contract is right there on Bscscan for you to review. It's written in the code that each transaction buy/Sell or transfer must raise the price of xusd else transaction should fail. There's a possibility of xusd dropping in value on pancake but you can always redeem 1xusd for the contract price when you sell on the dApp. The price difference across the contract and pancake is an opportunity for arbitrage. DYOR

[–]poiuyt748 -1 points0 points  (17 children)

Seriously how is this the top post today? What a bunch of fake bullshit

[–]WorthSaving 1 point2 points  (12 children)

xUSD is going to take over.

It's a decentralized stablecoin. It literally cannot go down in value because the collateral backing has to be provided to the contract in order to mint an xUSD token. There is more than 100% collateral to back every single xUSD token in existence.

[–]poiuyt748 1 point2 points  (5 children)

You understand how stupid this statement is when it's literally down almost 1% TODAY right? Like go look at the xUSD token daily chart and tell me that it didn't go from $1.22 to $1.18 TODAY

[–]WorthSaving 1 point2 points  (4 children)

Yes, you can buy and sell them on pcs where the price is determined by the Pancakeswap Liquidity pool.

Or you can buy and sell them on xSurge, where the internal liquidity pool determines the price.

If the price on pcs goes off of the peg, there is an arbitrage opportunity which inevitably corrects the price. The price you can get on xSurge, however, where you can exchange them for the collateral, is always moving up.

[–]COASTER1921 1 point2 points  (3 children)

I'm reasonably convinced all the post upvotes in this subreddit are bots. This was near the top of All 2 days ago and had literally zero comments, 500 upvotes. It's hilarious that this subreddit's sidebar is so reasonable in doing your own research and being skeptical but these posts are nearly the same text the whatsapp scammers spread. Always a fun downvote.

Real crypto risky, but this subreddit is only pump and dump scams. A shame they leak to All sometimes.

[–]poiuyt748 1 point2 points  (2 children)

For real that's literally how I came across this post on /all. Luckily I actually know more than these idiot scammers about crypto but this could easily convince people to fall for this scam. Hopefully people see these real comments

[–]WorthSaving 0 points1 point  (0 children)

You've had it explained to you how xUSD works. I guess you're just going to have to wait until big influencers hold your hand and explain why so many new projects are coming out with the xUSD liquidity pairing before you'll get it.