Really interesting question! The idea of building a stablecoin on top of Cashu isn’t crazy at all but it does come with a set of challenges. Cashu is designed as a privacy-focused ecash system with custodial mints, which makes it great for anonymous micropayments, but less straightforward for representing stable assets like USD. One theoretical path would be to have a mint issue ecash tokens backed by fiat (e.g., USD), similar to how USDT works. But that introduces trust in the issuer, which goes against the ethos of decentralization and censorship resistance. Still, it’s worth exploring. I’m surprised more people aren’t talking about this. Maybe a multi-mint setup could help reduce centralization risks?
Really interesting question! The idea of building a stablecoin on top of Cashu isn’t crazy at all but it does come with a set of challenges. Cashu is designed as a privacy-focused ecash system with custodial mints, which makes it great for anonymous micropayments, but less straightforward for representing stable assets like USD. One theoretical path would be to have a mint issue ecash tokens backed by fiat (e.g., USD), similar to how USDT works. But that introduces trust in the issuer, which goes against the ethos of decentralization and censorship resistance. Still, it’s worth exploring. I’m surprised more people aren’t talking about this. Maybe a multi-mint setup could help reduce centralization risks?