[mathieubordere]

“ETH will be added over the next hours to ensure wETH is backed 1:1,”

Are they just going to create 320M USD out of thin air?

[angio]

They're going to buy 320M USD worth of ETH and use it to replenish the reserves. Solana has big VC backing it so it shouldn't be an issue to find that money.

[baobabKoodaa]

That's 320M USD. It might be an issue.

[pawelduda]

ETH cannot be minted "out of thin air" so I guess this will go from reserves?

[user-the-name]

Reserves of 320M just sitting there?

[pawelduda]

https://news.ycombinator.com/item?id=30196343

[tomcam]

I can’t imagine a more important question to ask. That jumped right out of me too.