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I always wondered if the USD based stablecoins just hold each other's coins in lieu of cash. It's like an infinite money glitch if it's circular.
by adrr 4y ago
I always wondered if the USD based stablecoins just hold each other's coins in lieu of cash. It's like an infinite money glitch if it's circular.
- Nick87633 4y agoOr like governments issuing bonds in foreign denominations.
- randomhodler84 4y agoThis is what is happening to an extent, however the reserve requirements do not allow undercollaterization so you can’t print more value than you put in. A large slice of DAI is USDC.