bumblefudge’s avatarbumblefudge’s Twitter Archive—№ 34,526

  1. …in reply to @JakeSenftinger
    @JakeSenftinger are the issuers of cash involved in or backstoping the interest you get from custodial banks when you deposit cash in them? issuance and custody are separate roles even if the cbank delegates mechanics to a bank that is also a retail-custody bank...
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    1. …in reply to @by_caballero
      @JakeSenftinger my interpretation is that they object to interest being baked into the token itself, which creates perverse incentives and defeats the whole purposes of 1:1 face value
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