Orby and Cryptocom.
Why am I mad about what's happening right now?
Not because the market is bad, nor because
$CRO is struggling (I had five years to get used to that).
The reason I'm mad is that USC has been depegged ever since Cryptocom withdrew most of its initial liquidity from
@OrbyNetwork โ around 20k
$CDCETH and
$USC โ making USC far less stable than it was supposed to be. It's Cronos Chain's only native stablecoin.
It was meant to show stability, professionalism, and most importantly, trust. None of these are present right now.
At the start of the depeg, some
@cronosapp users took risks to repeg it, which helped somewhat, but now โ due to many people having to readjust their debt on Orby โ USC has depegged even more. So the initial users who tried to fix the problem are now in even worse trouble, while everyone else has been left without help.
Meanwhile,
@cryptocom is sitting on $80,000,000 worth of CDCETH (which was initially in Orby) and waiting for CroFam to sort out THEIR problem.
I personally am not much affected by the USC depeg. I'm not in danger or even remotely close to liquidation. But seeing many people take heavy losses just because the parent company fails to care or act โ again โ is beyond infuriating.
I became an ambassador for multiple reasons, one of them being to help the community, and I'm not afraid to criticise them when they deserve it.
While it's public knowledge, I'll leave this here since no one is talking to us:
The
$USC contract was deployed from the same deployer as the tax contracts for Manecity โ meaning they are affiliated with Cryptocom. With that affiliation, I expect them to behave like a trustworthy company, not like a random no-name project that goes radio silent when things get hot.
To the CroFam trying to help with their own resources: you guys are the heroes of the chain, as usual.
Massive props to the absolute legends out there grinding to repeg this
$USC corpse back to life, you all are out here doing CPR the Central Bank of
@cronosapp .
Now
@OrbyNetworkโฆ my dudesโฆ this is your moment. Stop hiding under your office desk like shy virgins at prom.
Get on the mic, tell the community what the f is actually happening, and maybe - crazy idea - educate people instead of letting them panic like a cat on the cucumber field.
Community and ambassadors are here to help, but we are not running your show. โค๏ธ
Cheers!