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TheCoinCritic⚙️🇺🇸 @TheCoinCritic on x 1246 followers
Created: 2025-07-24 21:11:02 UTC
Not really.
So say that XXXXXXXXX PLS=1ETH; then because of the peg, XXXXXXXXX pwETH=1 ETH;
however while the PLS:ETH will vary with market pricing…the wETH:PLS ratio will not vary as shown by the charts peg to X.
The m-stable coin (market stable coin) is ‘pegged’ to the PLS value…BUT the market decides the value of the PLS:ETH and thus the pwETH:ETH ratio is set by the market value of PLS.
So wETH in this case is always by design is only pegged to PLS and the wETH will derive its fiat or ETH price in terms of PLS…it is a different way of thinking.
The Chain defines the peg without oracles; Instead of the peg defining the Chain through oracles.
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Related Topics ethereum coins layer 1