An ELI5 Explainer About Where to Look When The Depegging Begins
> Except Tether charges a 0.1% redemption fee, which means they’d actually net $29,976,075.2988.
This is wrong, Thether charges max(0.1% x TOTAL, $1000). So your final argument is not valid.
I'm not sure I follow. 0.1% of $30,006,081 is $30,006, so max($30,006, $1,000) means the fee would be $30,006. That gets us a payout of $30,006,081 - $30,006 = $29,976,075. Am I doing that calculation incorrectly?
Also, thanks for reading!
> Except Tether charges a 0.1% redemption fee, which means they’d actually net $29,976,075.2988.
This is wrong, Thether charges max(0.1% x TOTAL, $1000). So your final argument is not valid.
I'm not sure I follow. 0.1% of $30,006,081 is $30,006, so max($30,006, $1,000) means the fee would be $30,006. That gets us a payout of $30,006,081 - $30,006 = $29,976,075. Am I doing that calculation incorrectly?
Also, thanks for reading!