Why I think Algo stablecoin protocols will do better than USDC

6 Okt 2021

DAIUSDTThere are numerous ideas and some real facts of and continuing act of regulators hammering some of the pioneer Stable coin companies LIKE Circle, Blockfi, Celsius for different reasons; all sums up that centralized issue USDCs are looked upon as bonds that does not back 100% USD for one USDC and on top of that, Blockfi celsius service include lending and borrowing mediator for USDC - deems mediator that creates open borderless market for buying and selling security i.e. USDC in view of the US govt.
Let's know we will likely not conclude this debate anytime soon, as legal issue is take long time especially for big firms with good lawyers already knew this scenario in their monopoly playbook.
Sorry, I stop rant about USDC's issue.
Unless ETH or other aseets crash to near zero, algo stablecoins should do fine and may likely avoid scrutiny from regulators of the world (IF, DAO is perfectly designed to be decentralized as time passes)

Yes many VCs back Terra (LUNA) that issues algo UST (USD in Terra protocol) so having a clear VC, Terra team location and identity not so good for avoiding govt. scrutiny but still higher chance of get away from prohibit act- since their UUST isn't 1:1 to USD, it is pegged by LUNA just like Maker DAO.

I find Olympus DAO and Frax share, Alchemix to be interesting Algo stablecoin protocols b/c they utilize bonds of other asset. For now I do not know deeply about OHM FXS ALCMX's tokenomic and their stablecoin issuance. But it feels like digital nomads could get their hands on decentralized stablecoins like these UST DAI for now

IF 50% in BTC, 25% ETH, 10% Shitcoin 15% in stable coins ----------------> 7.5% in USDC and 7.5% in UST, DAI is just an idea for now.

Peace,

Fleeangel

6 Okt 2021

Dagangan ditutup: hentian tercapai

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