Does anyone else find it strange that MCO is 2.4% the market cap of CRO?
I know market cap is far from a perfect measure for actual allocation in crypto holdings, but it is the best proxy for my argument.
I find it hard to fathom that people in this ecosystem have allocations that reflect this ratio of MCO/CRO market caps. I personally hold 30% MCO relative to CRO and im not even American. I imagine their allocations will skew more heavily in favor of MCO relative to CRO.
There is a lot of talk of CDC having the potential to be running a fractional reserve with their MCO supply. Obviously this is just rumour so take everything I say with a pinch of salt- im not here to FUD, but rather to better my understanding with regards to the situation. If CDC are operating a fractional reserve then it effectively means the MCO supply has no bearing whatsoever. 100 people could effectively be staking the same 50 MCO. Since MCO has no real use case outside of CDC wallets they could operate a fractional reserve with quite high confidence that there will never be a substantial 'run' on the MCO in their custody.
Is there a way we can have access to a more transparent view on our MCO holdings? We currently do not know the circulating supply of each tier card and the number of cards with an associated stake... We do not have the ability to locate our individual MCO on the blockchain explorer... There is talk of audits, but we all know how reliable an audit can be.
Thanks in advance. Hopefully someone can provide me some reassurance as to how this cannot be the case <3