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This is why I'm excited about Djed (https://djed.xyz https://djed.xyz). Input Output Global (creator of Cardano) has been researching stable coins and drafted a
by agotterer 5y ago
This is why I'm excited about Djed (https://djed.xyz https://djed.xyz). Input Output Global (creator of Cardano) has been researching stable coins and drafted a pretty extensive white paper on their solution (https://eprint.iacr.org/2021/1069.pdf https://eprint.iacr.org/2021/1069.pdf). The white paper also include a mentions for how they will prevent bank runs.
- andred14 5y agoDjed is garbage Coti, Cardano and friends are all about CBDCs, KYC and tracking people. No thanks.
- tick_tock_tick 5y ago> Input Output Global (creator of Cardano) I worry there target release date of 2042 seems extremely aggressive for them based on past performance and some of there research might not be relevant by the time it comes out.
- tome 5y ago2042? Perhaps 2024?
- JumpCrisscross 5y agoOne of the problems this class of mechanisms runs into, in the real world, is that--particularly in times of crisis--liquidity and prices are discontinuous. Djed doesn't seem to be vulnerable to the former. (Reserve coin holders transparently give up liquidity for their yield. Though, as the paper admits, reserve coin holders are subject to run mechanics.) It would be to the latter. Still, fascinating stuff.
- fMwhy 5y agoI read the first two sentences and immediately pondered "so how could one profit if they knew which volatile coin the bank kept as it's reserve?"