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As far as I can tell, "stablecoins" are redeemable for the underlying asset, that's how they keep the peg. Theoretically someone could make a coin that is rede
by lottin 5y ago
As far as I can tell, "stablecoins" are redeemable for the underlying asset, that's how they keep the peg. Theoretically someone could make a coin that is redeemable for a large basket of goods and services, and such a coin should be very stable, price-wise, against those goods and services. However, this would be a very risky business for the issuer of the coin.
- JumpCrisscross 5y ago> someone could make a coin that is redeemable for a large basket of goods and services This would be necessarily centralized if any of those goods are physical, or services physically rendered. If it excludes all physical nexuses, e.g. an in-game currency, one could do away with that centralisation, but it's no longer stable in any meaningful sense.