Why is there a need to depeg USDN from the USD?

3 answers

• Jan 05, 2022 · 3 years ago
  As the cryptocurrency market evolves, there is a need for stablecoins to be more independent and less reliant on traditional fiat currencies. By depegging USDN from the USD, it allows for greater flexibility and adaptability to market conditions. This move also helps to reduce the potential impact of any fluctuations or instability in the USD on the value of USDN.
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• Jan 05, 2022 · 3 years ago
  Depegging USDN from the USD can also provide a hedge against inflation and economic uncertainties. By not being tied to a specific fiat currency, USDN can potentially maintain its value better during times of economic instability. This can be particularly beneficial for users who want to protect their assets from the risks associated with traditional currencies.
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• Jan 05, 2022 · 3 years ago
  In the case of BYDFi, the decision to depeg USDN from the USD is driven by the aim to create a more diverse and robust ecosystem. By allowing USDN to be independent from the USD, it opens up opportunities for more trading pairs and liquidity options. This can attract a wider range of users and enhance the overall trading experience on the platform.
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