0 sats \ 2 replies \ @antic 11 Dec 2023 \ on: 10101 presents : USDp, the first USD on Lightning⚡️ lightning
This is really neat as a technical implementation but I can’t help thinking, “why would I solidify sats to USD value?”
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 🤮
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
reply
That’s a great point. I’ve heard McCormack talk about that a lot—people using Tron to USDC or the like. If this can take off and replace that, it could be huge. A good reminder to me to think outside my own bubble. 🚀
reply