Someone asked whether rwusd has a market price. Honestly, it doesn’t really have a market price—it was never meant to be traded.
It’s a savings product Binance launched last year. You exchange USDT or USDC for it at a 1:1 rate, and its yield is benchmarked against short-term U.S. Treasury bills. When it launched, they said the annualized yield could be as high as 4.2%. When you withdraw, it’s also exchanged back to USDC at a 1:1 rate. You can’t transfer it to other people or withdraw it on-chain, and its price has stayed close to $1 these past couple of days.
So even with liquidations happening all over the market and Bitcoin plunging to just over $76,000, it won’t fall along with them. There’s really only one thing to watch here: whether Binance can be trusted.
Binance says it will pay out over $6.3 billion in compensation and restore withdrawals within two days. In my view, the principal is probably fine.
If you’re looking for an entry point here, don’t bother. This is a place to park spare cash and earn interest, not to bet on price movements. #RWUSD $RWUSD
It’s a savings product Binance launched last year. You exchange USDT or USDC for it at a 1:1 rate, and its yield is benchmarked against short-term U.S. Treasury bills. When it launched, they said the annualized yield could be as high as 4.2%. When you withdraw, it’s also exchanged back to USDC at a 1:1 rate. You can’t transfer it to other people or withdraw it on-chain, and its price has stayed close to $1 these past couple of days.
So even with liquidations happening all over the market and Bitcoin plunging to just over $76,000, it won’t fall along with them. There’s really only one thing to watch here: whether Binance can be trusted.
Binance says it will pay out over $6.3 billion in compensation and restore withdrawals within two days. In my view, the principal is probably fine.
If you’re looking for an entry point here, don’t bother. This is a place to park spare cash and earn interest, not to bet on price movements. #RWUSD $RWUSD
