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RE: Chaince airdrop and EOS centered exchange

in #eos • 7 years ago

Thanks this is a good trace! Yet it seems to work differently, as you freeze CET and get EOS out, so this is the opposite of the Maker/DAO system, at least according to this: https://medium.com/cryptolinks/maker-for-dummies-a-plain-english-explanation-of-the-dai-stablecoin-e4481d79b90
The Chaince guy on telegram promised to explain it better, but has been quiet for 3 days

7 years ago in #eos by
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     7 years ago  

    Oh yeah, for sure it will work differently as there are only two coins in the mix rather than three. That Medium article is the "simple" version, believe it or not and focuses on creating a stablecoin. This YouTube video focuses on creating a collateralized debt position, a CDP:

    I'd advise you to get a big jug of coffee or a a few beers as it takes a bit of effort to wrap your head around.

    I'm guessing, and it is a guess, is that CET is functioning as both the collateral (the Ether) and the payment coin (the Maker). The concept could well be applicable for an exchange though.