Business director of Coinbase: Pulsechain Sacrifice wallet exchanged 155 million USDCs for 153.7 million DAIs

According to the report, Conor, the business director of Coinbase, tweeted that the largest net outflow of USDCs seen on the chain belonged to the Pulsechain Sacrifice wallet. At the weekend, they exchanged 155 million USDCs for 153.7 million DAIs. They should use MakerDAO’s PSM directly, and Pulsechain finally took on the sliding point of $1.4 million, which they don’t need to do.

Interpretation of this information:

Coinbase’s business director Conor recently made a tweet about the largest net outflow of USDCs, which belonged to the Pulsechain Sacrifice wallet. It was reported that over the weekend, they exchanged 155 million USDCs for 153.7 million DAIs. This means that Pulsechain Sacrifice made a significant move, as it sold a considerable amount of stablecoin and bought a stablecoin pegged to the US dollar.

Conor went on to suggest that Pulsechain should have used MakerDAO’s PSM, which would have enabled them to make the same trade without having to bear the sliding point of $1.4 million. This point refers to the difference between the actual exchange rate and the preferred rate that was assumed by Pulsechain. Therefore, using PSM would have made the trade easier without incurring any unnecessary expenses.

It is noteworthy that Pulsechain is a new platform that is built on Ethereum, and it aims to offer faster and more affordable transactions. It is also intended to be a fork of Ethereum that will provide a stronger foundation for other projects in the blockchain space. As a result, Pulsechain Sacrifice could have made this trade out of any operational requirement or simply to free up funds.

Overall, the tweet by the Coinbase business director provides insights into the crypto industry, indicating that it is not static but rather dynamic, with players often needing to switch strategies and portfolios to stay ahead. While Pulsechain Sacrifice’s move indicates a willingness to adapt, the criticism is that they didn’t take advantage of readily available resources to effectively make the trade.

In summary, the keywords for this message are “Pulsechain Sacrifice,” “USDC,” and “MakerDAO’s PSM.” Pulsechain Sacrifice made a considerable move by selling 155 million USDCs and buying 153.7 million DAIs. Coinbase’s business director suggests that the platform should have used MakerDAO’s PSM to avoid the sliding point of $1.4 million. Using readily available resources will enable blockchain companies to reduce their expenses and make more effective trades.