I think we should start talking about it in terms of a distributed stablecoin rather than a decentralised one. Not just for avoiding the negative connotations of “crypto decentralisation” but also because it more accurately reflects the technical behind this. It isn’t decentralised like Lightning or Bitcoin, but would be spread out.

Specifics aside, what we’re doing on Taro at Valera starts with the centralised stablecoins. Tether, USDC, etc. Distributed stablecoins, especially those that don’t use shit models, are a lot more difficult to make.

Which means there’ll be a lot of specialist tech built for each one that either becomes part of the world’s infrastructure or withers away into obscurity.

The way I’d approach this is to have threshold open federation type things acting as signers. What logic you want to add to actually make the stablecoin work inside of that federation is up for research.