Just a question.
There are some de-pegged assets with low liquidity on dexes, for example BUSD (from ETH), and actually none liquidity like bscBUSD/BNB (from BSC).
For example Modulo USDC burn is based on arbitrage between burner and dex with liquidity, for example sushiswap - someone is buying USDC on dex, and selling/swapping to USDS at modulo burner. This works because there is a place which allows such actions (dex with liquidity)
Question is - how to buy & burn assets where there is no liquidity allowing this action?
You cannot buy assets from the market when there is nowhere to buy it from. And users are not really keen to burn/swap anything at funny rates like 1 depegged to 0.1 pegged etc.
Looks like only way to redeem would be resuming horizon bridge?