When FTX’s Users’ Debt (FUD), meaning the debts of bankrupt crypto exchange FTX users, became extremely popular, the governance unit DebtDAO decided to burn 18 million tokens.
FUD tokens, which were recently released and stated to act in line with the value of FTX creditors’ debts, faced excessive demand shortly after they were put on sale. for $200 had risen. Upon this situation, the token governance unit, as a result of the overvaluation of the FUD. realistic express a value should argued.
DebtDAO is the price of the asset relative to its total fair market value. under 1 dollar should watch that you foresee however excessive demand Due to the fact that the real value is quite outside He said he was out. With the aim of bringing the total market value of the DAO back to the appropriate levels, on February 7, 18 million He stated that the FUD token will be burned.
Huobi made a statement on the subject, saying that after the burning, the total market 2 million FUD announced that the token will remain. Stock market FUD price 1 to 10 dollars fluctuation between envisaged He also added to his comments.
Huobi Advisory Board Member on the recent listing of FUD on Huobi Justin Sunheavily by users to criticism had been exposed. In addition, the project’s securities law will violate was also among the legal criticisms leveled at it.