0 sats \ 2 replies \ @d44d 16 Mar 2023 \ on: Launching the Sovryn Dollar, a new BTC-backed stablecoin bitcoin
Why?!
Why would someone want to hold/use a digital asset that is more stable on a day to day basis than BTC, more reliable than fiat in a bank account, and more portable than physical cash or gold? I can speak from experience and say as a business owner operating on relatively small margins, I could not afford to simply accept BTC and hold it without risking that at the end of the month I could not pay my vendors or make payroll. I need to convert at least a portion of my BTC revenue into some type of more stable value. Having an asset that I could convert a portion of my BTC to, which I know will have about the same purchasing power at the end of the month as it had at the beginning of the month, is very useful and even necessary to operate my business. If that asset is also digital, inheriting many of the same benefits of BTC like fast, global, low-cost, censorship-reistant transactions, then that would be very useful. That's the Sovryn Dollar.
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