Tether: Why We're Discontinuing EUR₮ and What’s Next

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(if i recall correctly, the contract allows to change the withdraw window, so you can get shafted with negative rates for a while)

Currently it has a 7 days withdraw lock, in the contract it can be set up to 3 months max.

The product is a short / long eth position while pocketing the yield. A synthetic stable dollar purely based on crypto without the need for real world assets.

It's pretty much an on-chain version of what Binance is doing with BFUSD

 

[JackAlabama]

Currently it has a 7 days withdraw lock, in the contract it can be set up to 3 months max.

3months of negative interest rates can cause some damage.