Why did steth choose to depeg from its original value?

3 answers

• Indrakumar NaragudeJun 30, 2023 · 2 years ago
  Steth chose to depeg from its original value due to the need for stability and to avoid potential risks associated with maintaining a fixed peg. By depegging, steth can better adapt to market conditions and ensure a more balanced and sustainable growth. This decision was made after careful consideration of the market dynamics and the long-term goals of the project.
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• BgvnJul 28, 2024 · a year ago
  The decision to depeg from its original value was driven by the desire to allow steth to have a more organic price discovery. By removing the fixed peg, steth can now respond to market forces and find its true value based on supply and demand. This flexibility can lead to a healthier and more efficient market for steth.
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• Brogaard VasquezJan 15, 2024 · 2 years ago
  According to BYDFi, one of the reasons behind steth's decision to depeg from its original value was to foster a more decentralized ecosystem. By allowing the market to determine the value of steth, it reduces the reliance on centralized control and promotes a fairer distribution of wealth within the cryptocurrency community. This aligns with the core principles of decentralization and democratization in the crypto space.
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