🚨Has THORChain been precisely “immobilized”? Tether can freeze DeFi treasuries with a single click!
A THORChain co-founder has made a bombshell revelation: Tether secretly froze the USDT treasury on its network, then unfroze it without any explanation!
This “ghost operation” has sent chills down the spines of DeFi users everywhere. Although the broader market $BTC is still trading back and forth above $83,900, this incident has torn away the last veil hiding the truth about decentralization:
1️⃣【The fatal flaw of faux permissionlessness】: No matter how decentralized a protocol’s architecture may be, as long as its liquidity pool is fueled by centralized stablecoins, their issuer can cut off its lifeblood of liquidity at the push of a button!
2️⃣【The arrogance of black-box power】: Freeze funds without giving a reason; unfreeze them without warning. The centralized Sword of Damocles hanging over the decentralized world has finally revealed its sharp edge.
If underlying assets can be remotely unplugged at any time, where should we look for a security premium on on-chain liquidity?
Do you think DeFi protocols will have to completely eliminate centralized stablecoins in the future? Leave your hard-hitting take in the comments!
$BTC $ETH $BNB #币安广场 #DeFi #CryptoRegulation
A THORChain co-founder has made a bombshell revelation: Tether secretly froze the USDT treasury on its network, then unfroze it without any explanation!
This “ghost operation” has sent chills down the spines of DeFi users everywhere. Although the broader market $BTC is still trading back and forth above $83,900, this incident has torn away the last veil hiding the truth about decentralization:
1️⃣【The fatal flaw of faux permissionlessness】: No matter how decentralized a protocol’s architecture may be, as long as its liquidity pool is fueled by centralized stablecoins, their issuer can cut off its lifeblood of liquidity at the push of a button!
2️⃣【The arrogance of black-box power】: Freeze funds without giving a reason; unfreeze them without warning. The centralized Sword of Damocles hanging over the decentralized world has finally revealed its sharp edge.
If underlying assets can be remotely unplugged at any time, where should we look for a security premium on on-chain liquidity?
Do you think DeFi protocols will have to completely eliminate centralized stablecoins in the future? Leave your hard-hitting take in the comments!
$BTC $ETH $BNB #币安广场 #DeFi #CryptoRegulation