5 sats \ 1 reply \ @takaponka 17 Nov 2022 \ parent \ on: Decentralized stablecoins are pitched as crypto's holy grail, so where are they? bitcoin
Dollar on Chain on RSK merge mined sidechain. https://moneyonchain.com/doc-bitcoin-backed-stablecoin/
It's backed by bitcoin. It comes with risks, like RSK peg and flash crash price of BTC. But I'm fine with it for very few % of stack.
Stablecoins will never be "fully decentralized" but there is huge demand in South America, even Africa. People trying to find a reliable one and they can't. There is real demand for mother stable currency, that you like it or not.
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5 sats \ 0 replies \ @Majjin 17 Nov 2022
I think that there's real demand and utility for stablecoins too. I don't buy that just because something is centralized or requires trust automatically makes it bad. Both centralization and decentralization have their risks and trade-offs.
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