Post
Topic
Board Announcements (Altcoins)
Re: [ANN] VETHER: A STRICTLY-SCARCE ETHEREUM-BASED ASSET
by
strictly-scarce
on 12/05/2020, 23:20:48 UTC
Not trying to create FUD in anyway here but a possible flaw may have been discovered as touching the valuation mechanism for VETH emission.

I could create a shit token and it would be easy to make its price high on uniswap, and as no one else can mint/own that token so there's no way anyone can sell to crash the price. I could then simply burn that token to receive VETH.

Is there any plan to mitigate the possibility of such an event? IMO value should've been tied to burning ETH alone.

That won't affect Vether Emission, since the *price* isn't used. Instead the asset is *sold* for Ether atomically, and that Ether is burnt. So the attacker would be burning their own Ether.

Thanks for your attention.