🪙🥕 Stablecoin POC on Taproot Assets Protocol on Bitcoin testnet
10 sats \ 3 comments \ @snow88488 19 Sep 2023 bitcoin
I have minted an asset on the Taproot Assets protocol testnet. The price is being stabilized at USD / 0.0337 SAT .
Buying or selling the stable coin will cause a trading bot to intervene to stabilize the price of the coin. Right now the bot checks the price every 10 minutes.
The coin is only traded on the Tiramisu Wallet exchange but you can withdraw it to your own TAPD node if you want to.
Asset ID is a5ff60470be111b9e12a4638f64640de68dfe0bafc6825be9880ca8e9b6f4274 and the universe is URL universe.tiramisuwallet.com:10029
This link shows the coin info as well as the price-chart https://testnet.tarowallet.net/walletapp/currencies_public/131
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20 sats \ 2 replies \ @DarthCoin 19 Sep 2023
The whole idea of "stablecoins" is moronic.
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21 sats \ 1 reply \ @snow88488 OP 19 Sep 2023
You can use it to track cost of other assets like the price of lumber or coal for example. It doesn't have to be currencies. It can be used to track options and create leverage.
For me this was more about the technical exercise behind it and less about the philosophy of it.
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20 sats \ 0 replies \ @DarthCoin 19 Sep 2023
You can use it to track cost of other assets like the price of lumber or coal for example
That I could agree to be used. For companies this could be useful indeed, even for using it as tracking shares in a company, bonds or whatever financial instrument for internal use.
The only thing I am worried that many midwitts will understand it wrong when you say "stablecoins" or USDt or whatever term that for them could sound as a "new currency" they could trade as any other shitcoin on exchanges.
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