pull down to refresh
0 sats \ 0 replies \ @One_O_One_O_One_CM OP 11 Dec 2023 \ parent \ on: 10101 presents : USDp, the first USD on Lightningโก๏ธ lightning
Yes indeed
There are plenty of use cases
Historically, stablecoins where used as a divisible and transferable hedge by traders.
Now StableCoins are widely used. Even by those who can't rely on their own national currency (LATAM, AFRICA, or even in LEBANON)
They often end up living with and spending USDT over TRON ๐คฎ
For those who can't afford the volatility of Bitcoin for their day-to-day expenses, or for small businesses that accept Bitcoin but have to manage their cash flow because they have employees and suppliers who only accept dollars... it's a great way to provide them a solution while promoting the use of Bitcoin the right way, the self-custodial way.
Not even mentioning that in the future, funding rates from the LONGS will probably pay the USDp holders...
This could be an EXPLOSIVE adoption vector, while getting users accustomed to Lightning, Bitcoin and self-custody
For many Westerners, this may seem insignificant, as the banking and financial system is (still) more or less functional. Nevertheless, could you imagine having to rely on Bitcoin for your family's everyday spending budget? Or having to manage your treasury when you're a small business with customers and suppliers operating in (or indexed to) fiat currency?
This.
Sir, USDp is just Bitcoin (sats+a short position)
โ No token โ No issuer โ No counterparty risk...
Traders can hedge in one click... Also, if you don't understand the interest of it, that's totally fine. Please note there are people out here that cannot afford taking risks on their weekly budget for groceries ;)
Just catching up
Bitcoin volatility can be frightening to some users that already have to escape hyperinflation with their own currency.
USDP allow them to dodge volatility for their daily expenses and that's just one of the arguments.
Futures trading using DLC allow users to have lore control on their funds while getting rid of the counterparty risk and the need to trust someone with your funds..
If this is shitcoining to some, fair enough, keep stacking sats in self-custody and leave the rest of the world do what they want with their bitcoins, as long as they own their keys
All good!
If your channel gets force closed, you should be able to find your sats in your on-chain wallet after a day or two..