I don't believe that decentralized stablecoins are even possible. There's going to be a part of the stablecoin's operation that will be centralized because you're essentially trying to control the price of a product. If you let the market determine its value (like Bitcoin does) it will always go off the peg.
It's backed by bitcoin. It comes with risks, like RSK peg and flash crash price of BTC. But I'm fine with it for very few % of stack.
Stablecoins will never be "fully decentralized" but there is huge demand in South America, even Africa. People trying to find a reliable one and they can't. There is real demand for mother stable currency, that you like it or not.
I think that there's real demand and utility for stablecoins too. I don't buy that just because something is centralized or requires trust automatically makes it bad. Both centralization and decentralization have their risks and trade-offs.
Decentralized stable coins are almost certainly dangerous scams. They're essentially guaranteed to fail eventually, requiring human intervention to fix, maybe.
I don't believe that decentralized stablecoins are even possible. There's going to be a part of the stablecoin's operation that will be centralized because you're essentially trying to control the price of a product. If you let the market determine its value (like Bitcoin does) it will always go off the peg.
Dollar on Chain on RSK merge mined sidechain.
https://moneyonchain.com/doc-bitcoin-backed-stablecoin/
It's backed by bitcoin. It comes with risks, like RSK peg and flash crash price of BTC. But I'm fine with it for very few % of stack.
Stablecoins will never be "fully decentralized" but there is huge demand in South America, even Africa. People trying to find a reliable one and they can't. There is real demand for mother stable currency, that you like it or not.
I think that there's real demand and utility for stablecoins too. I don't buy that just because something is centralized or requires trust automatically makes it bad. Both centralization and decentralization have their risks and trade-offs.
Decentralized stable coins are almost certainly dangerous scams. They're essentially guaranteed to fail eventually, requiring human intervention to fix, maybe.