What's the point of this? I looks like it's some sort of token that represents bitcoin, on the etherum network? Why not just hold bitcoins directly?
Those are interesting because the economics are set up to turn greed into a stable value. If the price of the token gets too high or too low, people can make money bringing it back to the peg.
[1] https://www.investopedia.com/terms/a/authorizedparticipant.a...
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