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How a Can of Arizona Iced Tea Became a Sarcastic Stablecoin -Breaking

by Mike Robinson

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USDTea: The Story of Arizona Iced tea and its transformation into a sarcastic stablecoin

Arizona teamakers have decided that they will enter the chaotic cryptocurrency landscape and offer true liquidity. They are backing a stablecoin, which comes with an iced can of $0.99 tea.

Mossy was a team of skilled tech workers who chose to donate the most well-known American brand of Ice Tea for charity. Brief background: AriZona Iced Tea was priced identically since 1996. This surprised the LA Times as AriZona Iced Tea represents a very rare item in America, where inflation tends to have a high impacy on retailers brands.

The Search for Liquidity In Not-So-Solid Crypto Times

USDTea’s official website claims that the inspiration for the new stablecoin comes from a desire to “stabilize the troubled ecosystem”, and clearly states the difference between USDTea and the rest: “While other stablecoins attempt to peg to dollar amounts through questionable algorithms or opaque investment strategies, we guarantee our liquidity with sweet, delicious liquid.” That certainly does sound like a sweet deal.

By definition of stablecoins they are expected to monitor assets and maintain their stability. The original stablecoin is, for example, the U.S. Dollar being backed with gold. The flaws in algorithmic stablecoins were exposed by the (LUNA/UST) market crash. Having no physical reserves led to a whopping amount of losses for investors—amounting to over $400 billion and counting. At press time, Terra Classic UST (UST) is trading at $0.03669 – 97% less than what is to be expected of a stablecoin backed by the USD.

Give the Crypto Community Certain-Tea

The IT team at Mossy took inspiration from AriZona Iced Tea, which has been a pillar of stability for Americans for over 30 years, thanks to its founder Don Vultaggio, who eagerly asked on Twitter (NYSE:): “AriZona stablecoin:?” Sure enough, the three guys behind Mossy explained that “Each USDTea is equivalent to, and redeemable for one 23 ounce can of AriZona Iced Tea. Simply send us your tokens as well as a processing fee and we’ll ship you physical cans of AriZona.” People clearly enjoyed the offer, as the first 1000 cans were sold in less than two hours.

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