304 sats \ 0 replies \ @nb 3 Aug 2022 \ parent \ on: Galoy Brings U.S. Dollars To Bitcoin’s Lightning Network bitcoin
Fufi.Money is somewhat different.
AFAIU, Fuji.money, instead of relying on derivatives, relies on overcollateralization. ie: you need to put $2 in bitcoin value to create one fuji dollar, such that even if the price of bitcoin drop by 2, there is still some collateral. at this point the person creating the $1 would need to add more collateral to not be liquidated.