Unum
Finance and crypto
stablecoin
SHOW HN2017
9points
13comments
#1,958of 2,242 in 2017
Top 88%of 2017 by points
How HN took it
RoastedHalf or more of the comments are critical
0 positive, 4 neutral or asking, 0 mixed, 4 critical, out of 8 comments about the project. Thread score -0.20.
Idea: 0 for, 3 againstDesign: 0 for, 1 against
The thread, comment by comment
Each row is a top-level comment and its replies, in HN's order. Select a cell to open that comment on HN.
positive neutral or mixed critical about another commenter or something else the maker
What HN said
Objections
Requires buying another crypto first, adding transaction cost
From 2 comments
Price stability is a requisite for a currency that you intend to actually use as money, but in this case it seems you have to buy some other crypto token first in order to buy…
Finnucane on HNBut you still have no way to buy unum directly with dollars, is that right? It’s not useful unless you already have some other crypto coin.
Finnucane on HN
Oracle depends on exchange prices; manipulation risk
From 1 comment
Do you have to trust that the exchanges are telling your price oracle correct averages? Is this a source of trust leakage?
Aqueous on HN
Reserve shortfall could break the $1 peg in a crypto downturn
From 2 comments
How can you ensure a $1 price if the price of Ethereum goes down and the reserve is less than the amount of Unum?
gus_massa on HNCryptocoins are strongly correlated, if one of the big ones goes down there is a high chance that most of them are going down. The penalty will not protect the coin from a "bank…
gus_massa on HN
Treasury bonds would be simpler for dollar parity
From 1 comment
If you want to maintain dollar parity, wouldn’t it be easier to use Treasury bonds? Dollar parity would be garaunteed by definition.
Finnucane on HN
Questions
How does it differ from Tether?
From 1 comment
How does it differ from tether (https://tether.to/) ?
hidiegomariani on HN
Can you buy Unum directly with dollars?
From 1 comment
But you still have no way to buy unum directly with dollars, is that right? It’s not useful unless you already have some other crypto coin.
Finnucane on HN
How does the price oracle update and what if it fails?
From 1 comment
> Whenever a user buys or sells Unum through the Unum Smart Contract, the current US dollar value of the exchanged cryptocurrency is found on another smart contract, called the…
seanwilson on HN
Alternatives named
Tether
From 1 comment
How does it differ from tether (https://tether.to/) ?
hidiegomariani on HN