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I have searched extensively and surprisingly failed to find even a discussion on the matter. Any hints?
You can make any token you want, there's still counterparty risk with the mint. Even the btc denominated tokens are really stablecoins backed by bitcoin.
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20 sats \ 1 reply \ @telcobert 11h
With the mint it's actually 'issuer risk'. Small but important difference.
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Is the issuer not a counterparty?
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Thank you both @96c0b276a3 and @telcobert for your observations.
@telcobert would you mind to elaborate on the 'issuer risk' detail?
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20 sats \ 3 replies \ @OT 4 Aug
I remember seeing that one if the projects has it.
Not sure why you would want it though. It would be pretty risky and likely not backed by anything.
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Please, point me to the project you're referring to :)
The reason I'm leaning toward a cashu-like protocol is that I have been developing a stablecoin protocol, and one of my conclusions is that such a service is unavoidably custodial, by definition.
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20 sats \ 1 reply \ @OT 23h
They are custodial whether its a stablecoin or Bitcoins.
I'll try find it.
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Thank you! :)
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Thank you for your answer :)
Would you mind to elaborate? I have a protocol for a stablecoin, and I have long been leveraging platforms, increasingly growing convinced that a protocol like cashu is optimal, but unsure on how to proceed.
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We have built fiat channels very early. In the end of 2021. Galoy released their product around the same date.
Ecash dollars may exist pretty much similarly and may do even benefit from proof of reserve schemes. But overall Fiat channels was the best tech because it just worked on LN, that's it.
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So ecash dollars backed by bitcoin still do not exist but are possible. Interesting.
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There was this idea of stablenuts and then I thought Boardwalk Cash was a stable coin on ecash. Here's the github for Boardwalk Cash.
On lightning there is the idea of stablesats.
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Thank you!! Will check them! :)
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stackers have outlawed this. turn on wild west mode in your /settings to see outlawed content.