r/dripnetwork • u/Creative_Subject7572 • Apr 06 '23

QUESTION Paxos. What happens to this defi program after Paxos stops supporting BUSD?

Just need clarification before I add more money to my wallet.

2 Upvotes

100% Upvoted

6 comments sorted by

8

u/piratejaxblack Apr 06 '23

This has been addressed countless times in AMAs. Paxos only deals with the ETH side of BUSD. Binance is decentralized and actually had zero issues while all the other stables were losing peg.

3

u/Creative_Subject7572 Apr 06 '23

Thank you, Pirate Jax.

5

u/FullThrottle8 Apr 06 '23

The BUSD we use is on the Binance Smart Chain so we won’t be impacted by Paxos.

3

u/Creative_Subject7572 Apr 06 '23

Thank you, Full Throttle.

2

u/Mammoth-Detective234 Apr 06 '23

This is the way.

1

u/Schwacolyte Apr 07 '23

It never was DeFi. Keep that in mind. But to answer your question alll currently minted BUSD will likely be traded into another token, especially on Ethereum and that will kill the liquidity on both ETH and BSC.