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Maybe someone should make a stablecoin that aims to trade $1 to $.9999 and the operators take their cut purely for auditing and maintaining the backing. Thus a
by reedjosh 4y ago
Maybe someone should make a stablecoin that aims to trade $1 to $.9999 and the operators take their cut purely for auditing and maintaining the backing.
Thus a true backed stablecoin where the operators have proper incentives.
- rsync 4y agoOr you could run it exactly 1:1 with 7 day redemption- and charge varying extra percentage fees for faster redemption…
- reedjosh 4y agoSure, that'd be cool too. Basically just make the incentive not about using the backing to gain money.
- tyrfing 4y agoThat's a unicorn that doesn't exist because after you set up your Proper Incentives and take it to the Proper Government Agencies to get Proper Approval, they'll tell you "no". Then the project gets shut down and you get back in line to wait another 5 years for government regulations to maybe happen. And that's how you get sketchy companies in Bermuda holding $100 billion in Schrodinger's assets, as well as other oddities like mining companies holding billions in assets because an ETF holding billions in assets would be illegal.
- charcircuit 4y agoTether kind of already does this by taking a cut on redemptions.