An obvious, but so far intractable, solution to this problem would be a decentralized stablecoin. Or ideally stablecoins. Unfortunately, most of the top DeFi-native stablecoins depegged along with USDC, a centralized and censorable asset that makes up a significant portion of supposedly decentralized asset’s backing. LUSD, for instance, tied to the Liquity protocol, has been the most successful, truly decentralized stablecoin – unfortunately, it’s not that stable (it was trading above $1.01 at time of writing).
Related posts
-
CryptoQuant CEO Says Stablecoins Now Being Mostly Used for Purposes Other Than Exchange Trading
The chief executive of digital asset insights firm CryptoQuant says stablecoins are witnessing increased adoption via... -
With Decentralized AI and Tokenized Ownership, We Can Fight ‘The Six’
Just as was the case for Alphabet’s Google, Meta’s Facebook and Amazon’s marketplace, the development of... -
Venn Network Aims to Solve DeFi's Hacking Problem With More Decentralized Tech
Creator Or Dadosh says Venn creates a “completely new economy” for crypto security. Source Spread the...