Wanna have some fun?
Here are three ways to materialize $USK.
- trade $axlUSDC for $USK on the FIN axlUSDC/USK order book.
So, there's our basis.
Next approach.
- We arb USK with OTHER TOKENS.
I just had a $gPAXG catch-all bid hit on the gPAXG/axlUSDC order book when $gPAXSG knifed down.
The price has recovered, so I can sell it back for $USK
... or 2 $USK more.
Nice!
- Well, this OTHER TOKEN just happens to be $gPAXG, which can be used as collateral to mint $USK, ... in fact: 21 $USK. So, in this scenario, I keep my $gPAXG AND get the 21 $USK.
... OR. IS. IT???
I, in fact, use that 21 newly-minted $USK to pay down a bit of my $ATOM $USK-mint.
My plan here is to use $gPAXG, $wBNB, and $wDOT as collateral, and pay off the $ATOM and $wETH, as I have uses for them elsewhere (@demexchange and @Umee_CrossChain and @OsmosisFrontier).
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